Australia, the place to invest?

In Australia there is firm commitment to invest in the commercialisation of new renewable energy technologies, including geothermal sources and wave technology, together with a new mini-grid project employing wind, solar, bio-diesel and energy storage technologies.
The EIB (European Investment Bank) has committed $2.33 billion (£1.4 billion) over the next three years.
The Greater Gabbard Wind project is proceeding forward at full steam (or under full sail).
However in contrast to these projects, the US has apparently been feeling some direct consequences of the economic slowdown, with a drop in demand for solar panels, resulting in stockpiling and a price drop of about 30%. With panel manufactures unable to match this revenue slump with any significant cost-savings, the sector is undoubtedly enduring some hardship.
So what does the future really hold for recruitment in renewable energy? In my view Europe and the Middle East will pave the way. Projects such as Nasdar in the UAE, combined with the availability of European grants, will result in greater economies of scale, and a general rationalisation across the industry. Companies will need to increase their commitment and investment, and essentially transform themselves into primary renewable energy businesses. This is illustrated by the success of companies such as Abengoa, and of course the demise of BP Solar and GE (Solar Manufacturing).
I do want to avoid oversimplifying the market, however, and am keen to hear your views on how the renewable energy market will evolve in the near future.