Article on Energy Policy of Australia-Free-Samples-Myassignment

Questions: Choose a topic from Microeconomics that matters to you and find a recent news article. Answers: Essence of The story The article addresses energy based issues such as reliability and efficiency, climate change and renewable forms of energy. Also, technological advancement in the field of the Australian energy sector has been touched on .Specifically, the article briefly recognizes the importance of renewable sources of energy ,mainly, solar and wind sources of energy(Parkinson 2017)Through the article, it is proposed that renewable forms of energy be adopted due to their cheap nature and ready availability. Noteworthy, the article is based on the speech of an energy minister for New South Wales .Majorly, the article stipulates what Australia s energy policy ought to embrace .Theres need to make energy more reliable ,affordable and up to date with the technological advancements for the benefit of the Australian people. Also, the article explores the importance of storing energy embraced through use of renewable sources of energy such as solar and wind Economic Concepts Based on the Article. Energy efficiency can be achieved through incorporation of reliable, renewable and environmental friendly sources and generation of energy .Energy efficiency. In addition, the affordability of energy sources is vital for all economies and its consumers. Noteworthy, the Australian government is yet to deliver affordable energy to its citizens(Wood 2016)Notably, South Australia s energy prices is considered the highest globally(Dayman,2017)Specifically, Consumers will experience price rises between 19.9 -16.1percent increment of prices from Energy Australia and Origin Energy thus the need for regulatory energy policy. High prices of energy will be burdensome and exploitative to consumers. Further, poverty will ensue from high power prices (Dayman 2017) Undoubtedly, technological advancements have made life much easier and efficient thus the need to embrace modern ways of electricity generation. Further, the Australian government is yet to afford reliable electricity for its citizens (Wood 2016) .Ideally, sources of energy ought to be reliable and sustainable. Usually, renewable sources of energy such as wind and solar are considered ideal for energy generation due to their sustainability and cheap cost. However, the Australian economy is yet to fully and exclusively embrace renewable sources of energy thus the costly prices. Coal isnt a reliable source of energy (Parkinson 2017).Theres need to device ways of storing energy through modern technology to ensure back to back supply of energy year in ,year out. Environmental friendliness is a concern for most energy generation players in the sense that nonrenewable energy sources such as coal are pollutants to the environment .Essentially ,theres need to reduce carbon emissions in relation to climate policy targets and environmental policies. Currently, the Australian energy policy has inadequate climatic policies thus the need to harmonize energy policies with climatic goals for an environment-friendly energy efficient forms of energy (Wood 2016)According to the article ,theres need to enact modern energy policy in harmony with climatic policies in order to protect the environment from carbon emissions which are harmful to the environment. Through the article, it is proposed that the Australian government adopt cleaner energy sources of energy production instead of sole reliance on non renewable energy sources. Arguably, there exists urgent need for government intervention in regulation of energy sector prices and formulation of modern energy based policies. To reduce environmental pollution and promote affordability of electricity, theres urgent need to generate energy using renewable sources of energy, Notably wind and solar energy. Typically, solar and wind energy are readily available and cheap too .Renewable energy sources require less cost in generation of power which translates into lower energy prices for electricity and other energy sources. In addition, theres need for formulation and incorporation of environment friendly policies on energy generation and distribution .Predominantly, generation of energy through no renewable sources transfers the relatively high costs to consumers in the form of tariffs. Also ,theres need to adopt technologically advanced sources of energy such as nuclear energy to substitute the use of fossil fuels such as coal. Mainly because, fossil fuels are expensive and non-renewable thus raising concerns of pollution and unreliability hence the need to adopt safer, readily available and cheaper energy generation sources. Fossil fuels are non-renewable and pollutants of the environment due to the large quantities of carbon emissions generated during energy production. In my opinion ,cleaner and renewable energy should be adopted because they are generated through environment-friendly technologically advanced processes and equipment which reduce and eliminate carbon emissions from the atmosphere .Further ,renewable energy tariffs are cheaper thus affordable for the Australian population. Recommendations. By and large, it's vital to incorporate renewable sources of energy into energy sector generation to reduce pollution and make the prices affordable (Pears,2017)Further, theres need to make energy supply reliable to the Australian population through incorporated various sources of energy production as opposed to reliance on rnon renewable energy sources .In addition theres need to implement strong and achievable energy sector policies and regulation. Moreover, the energy sector policies and measures ought to conform to overall climatic policies. Regarding high cost of electricity, there is need to have accessible energy regulatory bodies in each of the Australian states to monitor the electricity tariffs (Frydenberg 2016)Also, adoption of cheaper technological generation options will make the prices of electricity less costly for the Australian population. To ensure reliability of energy, renewable and non-renewable sources of energy ought to be available always (Mcleish 2017)Theres need for cleaner and renewable energy and practices for an efficient energy sector in Australia. Also ,in regulating price of electricity, mandatory rates of comparison and transparency in energy prices will keep prices in check and consumers enlightened(Clure 2017)Typically, every sector of the economy requires constant reforms due to the changing nature of technology and environmental factors (Zappa 2014) and energy sector is no exception. Theres need to formulate modern policies and measures to curb the existing energy challenges for an efficient energy sector in Australia. Further, theres need to use renewable energy for environmental friendliness purposes and affordable cost of generated energy through this easily available sources . References Parkinson, G. (2017) How the Far Right Have Hijacked Australias Energy policy.RE New Economy. Available at https://reneweconomy.com.au/far-right-hijacked-australias-energy-policy-11836/[Accessed 23 Aug 2017] Dayman, I. (2017) South Australia power Prices to Rise to highest in the world on Saturday, Energy Experts warn .ABC News. Available at https://www.abc.net.au/news/2017-06-28/sa-has-most-expensive-power-prices-in-the-world/8658434[Accessed 23 Aug 2017] Wood, T. (2016) Australia s energy Sector is in critical need of Reform. The Conversation. Available at https://theconversation.com/australias-energy-sector-is-in-critical-need-of-reform-61802[Accessed 23 Aug 2017] Clure, E. (2017) Power Prices: 13 ways government could Bring down Electricity costs .ABC .Net. Available at https://www.abc.net.au/news/2017-08-11/what-could-the-government-do-to-reduce-power-prices/8790952[Accessed 23 Aug 2017] Pears , A.(2017)2017 Will be a Big Year for Australia s Energy System: Heres What to LOOK Out For .The Conversation .Available at https://theconversation.com/2017-will-be-a-big-year-for-australias-energy-system-heres-what-to-look-out-for-71703[Accessed 23 Aug 2017] Frydenberg, F. (2016) The future of Australia Energy sector.[Opinion]Australian Mining. Available at https://www.australianmining.com.au/features/the-future-of-australias-energy-sector-opinion/ [Accessed 23 Aug 2017] McLeish, R. (2017) Elon Musk Resumes Twitter Campaign for Australian Energy Reform with Mike Cannon-Brookes. The Sydney Morning Herald. Available at https://www.smh.com.au/technology/technology-news/elon-musk-resumes-twitter-campaign-for-australian-energy-reform-with-Mike-cannonbrookes-20170313-guwr8g.html[Accessed 23 Aug 2017] Zappa, M.(2014)17 Emerging Energy Technologies that will change the world .Business Insider .Available at https://www.businessinsider.com/17-emerging-energy-technologies-2014-4?IR=T[Accessed 23 Aug 201 essed 23 Aug 2017]