In recent years, the Australian government has changed course with regard to the gradual replacement of the country’s energy supply by traditional energy resources to alternative renewable energy sources to preserve the environment. The research relevance is predefined by the need to introduce the latest technology and to find investors for the further development of the state energy sector. In this regard, the research to reveal the current state of the energy sector in Australia, the study of existing projects, their productivity, and their impact on the environment. The main methods of research are the method of analysis of existing publications describing the current state of the energy sector as well as the method of comparing the country’s energy performance before and after the implementation of relevant reforms to better illustrate the effectiveness of existing projects. As a result, it was determined that the Australian government pursues a policy of carbon neutrality in the energy industry to reduce the harm caused to nature by harmful emissions into the atmosphere. The state has a focus on reducing the cost of electricity. It is also determined that Australia has a positive attitude toward foreign investment and is open to proposals for new technologies that improve the efficiency and security of the energy supply. The research mentions Australia’s main trading partners, their joint projects, and enterprises. The main directions of alternative energy currently used, their advantages, and their disadvantages are identified. The research result may be of practical value for investors in the field of renewable energy sources in order to better understand the energy market in Australia and possible prospects, as well as for all interested parties.