Solar technology: the US and China look to Australian innovators for solutions

New ideas, such as solar panels that float on water supply reservoirs, could see Australia become a major renewable energy exporter

In the last fiscal year, Australia earned $172bn from international sales of its natural resources. But earnings are decreasing. The office of the chief economist estimates that energy commodities earnings declined by 6% to $67bn last year because of a decline in revenue from coal exports, and that exports of refined petroleum products have declined by an average of 11% a year over the last decade.

There are hopes however, that Australia could bolster its position by developing its exports of renewable energy - especially those generated through solar technology. The opportunity is there. China - one of Australia's major coal buyers - has committed to increase its share of non-fossil fuels as part of its primary energy consumption to around 20% by 2030.