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More Australians Support Renewable Energy for the Future

The future of Australia’s economy primarily depends on renewable energy usage, according to Australian economist Ross Garnaut. Garnaut noted that the country could emerge as an “energy superpower of the low-carbon world economy” if it begins to shift its Read more

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More Australians Support Renewable Energy for the Future

Posted on by Nihonmagazine in Promotions | Comments Off on More Australians Support Renewable Energy for the Future

Solar panelThe future of Australia’s economy primarily depends on renewable energy usage, according to Australian economist Ross Garnaut. Garnaut noted that the country could emerge as an “energy superpower of the low-carbon world economy” if it begins to shift its attention to finding alternative energy sources. As a result, energy prices, particularly for wholesale electricity, would become cheaper not only than the current rate but also compared to global prices.

Renewable Sources

Australia has sought to address its issues on energy security by commissioning the Finkel review, which recommended several ways to solve the problem. However, the report remains in limbo amid disagreements over the viability of fully embracing renewable energy sources. Petroleum products stored in diesel fuel tanks, natural gas and coal, provide a cheaper and more reliable power source. However, renewable sources such as wind and water are more sustainable. Each type has its benefits and flaws, but Garnaut pointed out that renewable energy represents the best solution for Australia’s energy crisis.

Public Insights

The federal government has been seemingly sceptic with the efficiency of clean energy, although a Climate of the Nation survey showed that most Australians are in favour of using more renewable sources. The poll gathered information from 2,660 respondents nationwide, with 96 per cent of them want renewable energy to be Australia’s main source. Still, tighter competition in the energy industry serves as one factor for the existing crisis, according to Garnaut. He also advised against a renewed push by the government for energy investments, including the Turnbull administration’s Snowy 2.0 initiative.

Conclusion

As talks for supporting renewable energy continue to gain traction, many people question whether renewable energy could solve issues on energy security and if it comes with a hefty price tag.