Today's release of the 2018 update to the Australian Energy Resources Assessment (AERA) reaffirms Australia as a powerhouse of energy resources.

Today's release of the 2018 update to the Australian Energy Resources Assessment (AERA) reaffirms Australia as a powerhouse of energy resources.

Geoscience Australia's Chief of Resources Division, Dr Andrew Heap said the latest update to AERA provides a snapshot of Australia's current and potential energy resources and how they contribute to our economy.

"From the alarm that wakes us up in the morning, to the last light we switch off at night; our everyday lives are fuelled by energy," Dr Heap said.

"The latest update to AERA shows that we have more than enough oil, coal, gas and renewable energy resources to not only meet our daily needs but also to export overseas."

Dr Heap said energy resource exports make a significant contribution to the Australian economy, creating investment and job opportunities.

"We are a world leader in exporting coal, oil, gas and uranium - they make up more than 20 per cent of our total exports, and are projected to earn around $90 billion a year over the next five years.

"Given Australia is largely under-explored for oil and gas, there is great potential for more to be discovered.

"Exploration and innovation are vital to ensuring that Australia has a secure, affordable and reliable energy supply for generations to come. That's why programs like Exploring for the Future are so important."

Dr Heap said the latest update to AERA also highlights an increase in renewable energy generation.

"We are only just starting to understand the scale of Australia's renewable resources, and to develop the technologies to harness them not just for electricity generation, but also for fuels. The latest data from 2016 shows renewable energy now accounts for around 16 per cent of Australia's electricity generation. We expect that share to increase as renewable energy technologies become more advanced."

This update to AERA is the third in a series of national assessments of Australia's energy resources, first released in 2010. It is the first to be published in a digital format. This new format offers enhanced functionality such as data download, and easier navigation. This transition from print to digital publication is part of the ongoing evolution of AERA to ensure it continues to provide relevant information to stakeholders.

AERA has been developed by Geoscience Australia in collaboration with the Department of the Environment and Energy and the support of the Australian Renewable Energy Agency.

Contact:

Phone:

Email: