Research Report on Energy Transitions
Energy is a critical aspect of the economic endowment of any territory. The features of energy command a lot of attention from the involved stakeholders. Such stakeholders comprise of the governments, the scientists, the environmentalists, the researchers, and so forth (D’Souza & Yiridoe, 2014). The dissection reviews the aspect of energy transitions in line with the global historical developments. Moreover, the study analyzes the main actors in the development of the energy regime in the global platform. The study also examines the inventions and strategies that attribute to the respective changes in energy regimes, and it analyzes the political, legislative, and organizational factors driving these developments. More intently, the analysis reviews the implications of these respective energy transitions on Australia. As figure 1 depicts, Australia highlights extensive sources of energy, and it is crucial to review how a shift from traditional sources to renewable energies can be realizable in Australia (Foran, 2011). In addition, the research examines the coupled risks, opportunities to the Australian territory, and the transferable lessons that may be applicable in different scenarios.
Figure 1: Australian Energy Sources (Source: GeoScience Australia ,2012)
2.0. The Historical Development of the Energy Regime and the Main Actors
There are two major energy regimes, and these are the age that relates to solar energy and the age relating to the fossil fuels (James et al., 2013). The solar power system was evident from around 10000 B.C.E. to about 1800 C.E., and this regime relates to the renewable sources of energy. The fossil fuels regime attributes to the periods of 1800 C.E. until the present day world. The fossils fuels are not renewable sources of energy, and they comprise of coal, natural gas, and petroleum products. In addition, another source of energy in the current world is Nuclear Energy. The main actors in the historical development of the energy regime included scientists, the society, the technology developers, regulators, and policy makers (LePoire, 2015). To review the historical development of the energy regime, the study focused on a Staircase that relates to the energy systems. As Figure 2 depicts, the staircase attributed to energy regimes is a conceptual framework based on the link between energy, complexity, and evolution. The model scrutinizes the evolution of life on earth in line with the respective energy regimes.
Figure 2: Staircase of Energy Regimes
2.1. The Thermophilic Regime
The thermophilic regime is the first energy regime to become apparent on earth, and the driving of the processes of change was dependent on heat. The first energy dissipating beings were hyperthermophilic, and their origination related to the heat flow attributed to the energy gradient between the hot earth and the cold atmosphere (Martin & Rice, 2015). Thus, because of this heat the pushing of the chemical systems occurred. Moreover, because of the chemical blueprints, the aspects related to cell division became evident, and cell division boosted entropy production and the global energy dissipation begun to increase drastically.
2.2. Phototropic Regime
Adjacent to the water bodies, organisms called hyperthermophiles underwent an exposure to sunlight. Some of these organisms exploited the incoming energy flow, and they gave birth to the photosynthetic processes (Mat et al., 2015). Hence, these innovative microorganisms became structures that dissipate solar energy, and that led to the formation of solar energy dissipating ecosystems. The phototropic regime highlights the aspects of photosynthesis, and in this regime, the presence of solar energy became prevalent.
2.3. The Aerobic Regime
In this period, the utilization of solar energy was extremely high, and this led to an increase in the processes of photosynthesis. Hence, there was a symbiotic alliance between the living organism resulted in the formation of transformed energy systems (McGuirk, Dowling & Bulkeley, 2014). Hence, because of the creation of new energy dissipating systems, the living organisms developed to become more complex. Moreover, a new energy gradient emerged because of the source-sink system of wood and water, and carbon dioxide and water.
2.4. Pyro cultural Regime
The pyro cultural system highlighted a societal nature, and the earth’s inhabitants burned wood to obtain heat and light to sustain their daily activities. The burning of wood to obtain heat and light was the main driving force in this stage, and this led to the conversion of solar energy (Moore, 2014). More intently, the main driving force behind an energy dissipating structure related to the activities linked with human ingenuity. Moreover, this stage comprised of fire masters invented technologies such as the torch and the fireplace to conduct their daily activities. The regime nurtured the fire economy, and this led to massive developments in the field of energy.
2.5. Agro cultural Regime
When the burning fields combined with seeds, carbon dioxide and water an energy sink becomes apparent. The agricultural regime involved satisfying societal needs and utilizing more solar energy. Agro cultural activities led to extensive human developments and many new properties such as crafts and energy chains became evident (Moore, Horne & Morrissey, 2014). More intently, other forms of energy such as wind power and waterpower emerged, and that led to immense developments in the field of energy in the subsequent years.
2.6. The Carbo cultural Regime
In this period, there was a creation of coal, petroleum, and natural gas from dead biomass on the earth’s surface, and the applicable process was fossilisation. More intently, the burning of fossil fuel in a combustion engine led to the production of mechanical energy (Morim et al., 2014). The mechanical energy resulted in the inventions such as a dynamo that produced electricity, a pump for generating water, and a vehicle for moving commodities. In addition, in this stage, several other carbonless forms of energy emerged and these comprise of nuclear power and photovoltaic energy.
3.0. Interventions/Strategies That Brought Change in the Energy Regimes
3.1. Human Development
As time went by, the capacities of human beings to execute all complex initiatives drastically increased. In addition, there was an urgent need to nurture energy systems that would solve industrial needs and all other societal needs (Trainer, 2012). Hence, because of the aspects of human development there was an enhanced research in terms of formulating advanced energy systems. In addition, human beings had an improved access to education, health facilities, and nutrition as time went by and such factors facilitated massive inventions and improvements in the energy sector. The enhanced levels of knowledge were of utmost vitality in the subsequent changes in the energy sector on a global platform (Vieira, Beal & Stewart, 2014). Human beings highlighted expertise, skill set as time went by, and this led to energy transformation initiatives in many countries. In addition, there was an urgent need to sustain a long and healthy life, and it was necessary to nurture energy systems that will certify the factors linked with a long and healthy life.
Australia highlights various aspects of human development, and the endorsement of the National Framework for Energy Efficiency in 2004 attest to this fact (D’Souza & Yiridoe, 2014). The framework advocates a number of energy efficient structures. It is crucial for human beings to nurture efficient energy systems that will also guarantee a long and healthy life. More intently, the Australia endeavors to implement sustainable energy systems that highlight the use of extremely low levels of carbon at all times. The urgent need to safeguard a long and healthy life led to the respective changes in the subsequent energy regimes (Foran, 2011). In addition, Australia endeavors to support social structures by improving sustainable energy systems in the country. For instance, one of the NFEE strategies was to phase out inappropriate lighting systems in all residential areas in Australia. The entirety of these factors link with human development interventions, and these interventions led to the respective changes in the energy regimes to nurture sustainable energy frameworks.
3.2. Development of Goals
The realization of any change in the energy systems necessitates the embracing of a strategy linked with developing particular goals. The development of these goals led to the various changes in the energy sectors in the world and particularly in Australia (James et al., 2013). More intently, in the changes between subsequent energy regimes the principal actors endeavored to implement sustainable energy systems. The aspect of sustainability functions as a goal that influences changes in the respective energy systems. In addition, the main actors in the change of energy systems all pursue different goals (LePoire, 2015). For instance, the companies will want to ensure that they operate efficiently, and the continuity in business is an assurance. Hence, the companies will formulate strategies that embrace the energy systems that are in line with their goals.
For some actors, the affordability is the critical aspect, and such actors ensured that energy transitions become successful in terms of minimizing the costs involved at all times. The development of goals acts as a strategy that influenced the energy transitions in respective regions. For instance, Australia has a goal that relates to attracting investments towards appropriate discoveries and enhancement of energy infrastructures for the benefit of all citizens (Martin & Rice, 2015). Hence, this goal acts as a strategy that relates to the respective energy transitions because Australia will change its energy systems so that these systems act as an endowment to all its citizens. The development of goals is a crucial strategy that came in handy in the process of transforming sustainable energy systems in Australia.
3.3. Development and Execution of Tests
As time went by, the concerned stakeholders formulated and conducted numerous tests that endeavored to transform energy systems (Mat et al., 2015). More intently, the performance indicators linked to sustainability, efficiency, and affordability were of utmost importance, and they had an influence on subsequent energy transitions in Australia. Various tests endeavored to establish various factors that relate to the energy systems. Such factors include the energy storage capabilities, system flexibility, communication, control models, transmission and distribution mechanisms, and so forth. All these factors associate to development and testing procedures, and they influenced the energy transitions in Australia in a massive manner (McGuirk, Dowling & Bulkeley, 2014). The implementation of a new energy system requires numerous testing interventions. More intently, the testing interventions affected the change in energy systems towards a more sustainable energy infrastructure.
3.4. Technological Interventions
There was a need to implement technological initiatives that will guarantee sustainability, affordability, and efficiency of energy systems. For instance in Australia, technological initiatives aim to reduce the carbon intensity of all energy services (Moore, 2014). Such technological initiatives contribute immensely to changing the energy regimes in Australia. More precisely, technological strategies seek to nurture energy systems that will alleviate poverty, enhance livelihood security, and improve the sustainability of natural reserves. The current technological interventions in the Australian locale aim to implement renewable energy sources at all times. Hence, the technological interventions coupled with energy systems exhibit unimaginable influences on energy transitions.
3.5. Long Term Thinking, Anticipation, and Adaptation
In the process of energy transition, the involved stakeholders have to project the outcomes for a period of at least 25 years into the unforeseen future (Moore, Horne & Morrissey, 2014). In addition, the energy regimes have to function as a framework for nurturing short-term policy to address persistent societal problems. The aspect of analyzing the long-term effect of energy systems lead to the respective energy transitions in Australia and the world. Moreover, the power systems in Australia had to anticipate and adapt to the future energy trends and development. More intently, the Australian energy sector ought to embrace renewable energy sources coupled with minimal carbon emissions at all times (Morim et al., 2014). Thus, it was necessary to anticipate and adapt the energy regime to in line with the future international conventions such as the Kyoto protocol. The pressure to conform to the future standards and the immense emphasis on carbon emissions led to many changes in terms of terms of the energy regimes in Australia.
4.0. Political, Legislative, and Organizational Factors Driving Energy Transitions
The industrialized territories have had the opportunity to encounter disruptions in the energy systems in the past. Examples of political crises that were evident in the energy industry in the past include the Suez crisis and the 1973 oil crisis (Trainer, 2012). The uneven geographical distribution of energy reserves makes the energy supply systems vulnerable to political instability and turmoil. In addition, the energy resources may be applicable as a strategic political weapon in many countries. Furthermore, as the cost of energy keeps on increasing, influenced by the fossil fuels market and carbon pricing, the political stakeholders face tremendous pressure to address issues linked with affordability and fuel poverty (Vieira, Beal & Stewart, 2014). Such factors comprise the political factors, and they drive various developments in the energy sector.
In Australia, the political landscape aims to transform the country into a low-carbon economy, and this will be significant progress in terms of achieving sustainable energy sources (D’Souza & Yiridoe, 2014). More intently, the Australian government aims to transform concern about climate change into pragmatic, efficient, and viable government policies. The political pressure to address the issues of climate change in the energy sector led to immense energy transitions in Australia. In addition, the environmental policy in Australia advocates for carbon control measures in the energy sectors and other areas in the country. More intently, politicians face tremendous pressure because of carbon control policies. For instance, in the 2010 election process, the urban voters abandoned the incumbent (Foran, 2011). Labor administration to support the Green Party candidates because of carbon control policies. Hence, the political influence on the energy regimes in Australia inclines towards the implementation of energy sources that adhere to carbon control measures. Such strict political policies drive the energy transition process in the Australian territory, and the power systems ought to highlight carbon control measures to guarantee sustainability (James et al., 2013).
4.2. Organizational Factors
The local and international organizations influence the energy transition processes in a massive manner. In Australia, the primary organization responsible for overseeing the energy sectors at the Federal level is the Department of Resources, Energy, and Tourism. The endeavor of this entity is to guarantee that the government receives appropriate advice concerning the matters related to energy (LePoire, 2015). Such institutions have the capacity to drive energy transition processes in the Australian region. In addition, the international conventions such as the Kyoto protocol come into play. The Kyoto protocol advocated the reduction of greenhouse emissions by 5% in the period between 2008 and 2012. Such international conventions have an impact on the Australian institutional policies, and they act in line with the provisions set by these international conventions (Martin & Rice, 2015). The Australian institutions and organizations have the capacity to influence energy transition practices by advising the government on the best practices of achieving sustainability in the energy sectors by embracing renewable sources of energy.
Various organizations promote stronger regulations in terms of technical efficiency, mandatory renewable energy targets, improved localized and distribution generation and more substantial role for the international organizations. Hence, these institutions influence the energy transitions from the archaic sources of energy to the renewable energy sources in Australia (Mat et al., 2015). In the Australian locale, The Department of Climate Change and Energy Efficiency ensures that the concerned stakeholders of the energy sector appreciate the aspects climate change in their daily activities. In addition, Australia has an obligation to implement the regulations set by international organizations. Such regulations may relate to implementing techno- renewable sources of energy such as geothermal power, wind, solar, and tidal energy (McGuirk, Dowling & Bulkeley, 2014). The organizational influence is of much importance in transforming the prevalent energy regimes in Australia, and they drive change in energy transitions aimed towards renewable sources of energy.
The legal framework in a particular territory influences the prevalent energy policies, and these energy policies drive the energy transition process at all times. For instance, in Australia the formulation of the Clean Energy Act by the Australian Senate in 2011, transformed the energy sector immensely (Moore, 2014). The Clean Energy Act promotes the best carbon reduction methods in Australia’s energy sector. Such pieces of legislation drive the energy processes in the Australian region. Moreover, legislation is critical to achieving sustainable energy sources in all territories. The change in energy regimes is dependent upon the prevalent pieces of legislation in particular areas. In addition, the Ministerial Council of Energy in Australia established the Australian Energy Market Commission and the Australian Energy Regulator (Moore, Horne & Morrissey, 2014). The latter body is responsible for the formulation of the energy regulations in Australia, and the former body deals with the formulation of rules and the market design. The prevalent legislative frameworks in Australia drive the energy transition process in an enormous manner, and all the energy systems ought to comply with these legislative amendments to realize the success of sustainability in Australia.
Important to note, is that the carbon pricing mechanisms coupled with the climate change plan of the Australian government will increase the prevalent prices of energy sources related to high levels of carbon emissions (Morim et al., 2014). Thus, encourages Australians to embrace fuel-efficient cars and energy sources that highlight less carbon-intensive procedures. For instance, the Australian government ensures that the production of electricity originates from natural gas reserves and not coal. Such features of legislation have an impact on the changes witnessed in the energy systems because these respective changes have to be in line with the set legislative provisions.
5.0. How the Existing Energy Regime was Changed and the Main Actors
The Mandatory Renewable Energy Target (MRET) came in handy in the energy transition coupled with transforming Australia’s energy systems from traditional sources to renewable sources (Trainer, 2012). The initiative targeted 9.5 billion Kilowatt hours of the entirety of the electricity generation to originate from renewable sources, solar energy, and wind energy by the year 2020. The Renewable Energy Target also came into play, and its targets are to attain 45,000 Gigawatt hours attributed to renewable electricity generation during the period of 2020. Through these two initiatives, Australia highlights a change from the traditional energy sources to renewable energies, which promote sustainability (Vieira, Beal & Stewart, 2014). However, the total of Australia renewable energy only accounts for approximately 5% of the country’s total energy consumption. The main actors involved in changing the energy systems from depending on traditional sources to depending on renewable sources are many. They include the environmentalists, the government, international community, technologist and researchers, and the local energy organizations.
Australia embraces renewable energy sources by promoting the use of solar energy, wind power, biomass energy, hydropower, geothermal energy, and ocean energy (D’Souza & Yiridoe, 2014). Carbon pricing initiatives also come into play. Excessive carbon dioxide emissions result in market failure and an increase in global warming because the ozone layer experiences depletion. The long run costs attributed to climate change are not dependable on the price of fossil fuels. Thus, a viable solution would be to regulate the prices of carbon. Carbon pricing initiatives are internationally compelling, and they propel carbon reductions through the demand effects and the substitution effect (Foran, 2011). More precisely, the demand effect relates to efficiency and conservation of energy, and the substitution effect relates to energy sources coupled with low carbon emissions and fuel switching. The transformation from the existing energy regime to renewable sources of energy in Australia occurred by the use of various initiatives. Such initiatives include the Mandatory Renewable Energy Target, Renewable Energy Target, the Carbon Pricing initiative, and the national Carbon Pollution Reduction Scheme.
Figure 3: Renewable Energy Generation in Australia
6.0. Conclusions Drawn in Regards to the Implications for Australia
In the year 2001, the Australian authorities introduced a piece of legislation, and the legislation advocated investments linked to renewable energy generation. The expansion of the law became evident in 2009 to initiate a 20% Renewable Energy Target (James et al., 2013). The policy enjoyed bipartisan support and it is in line with the global standards that relate to renewable energy. The section endeavors to review the implications of this new piece of legislation in Australia. The transition from traditional sources of energy to renewable sources is dependent on the provisions of the Renewable Energy Target.
6.1. Projected Reviews of the RET Target
Many stakeholders articulate concerns about the aspects related to increasing, or decreasing of the RET targets. Moreover, some stakeholders are of the notion that the current RET framework is adequate (LePoire 2015). The point of reviewing the RET targets is of much importance, and the Australian government ought to formulate a consultative framework in regards to reviewing the RET targets. For example in the past, the RET target decreased because of reductions in energy demand forecasts, and the 45000 GWH target contributing 26%, which was above the 20% threshold. The reductions in demand became evident because of an increase in small-scale renewable system installations, increased installation of energy efficient appliances, and the prevalence of milder seasons (summers and winters). Important to note, is that there is an increasing cost of electricity related to RET, and the involved stakeholders advocate the initial 20% target by 2020 (Martin & Rice, 2015). Projected reviews of the RET targets pose a tricky situation for the Australian government, and the state ought to formulate appropriate RET reviewing frameworks. Such frameworks will guarantee the thriving of renewable energy systems in Australia.
6.2. The Over Lapping Nature of State and Federal Policies
The overlapping nature of State and Federal policies adversely affects the renewable energy policies, and this exhibits a negative picture to prospective investors. The expansion of the MRET policy in 2009 gave birth to the 20 % RET framework (Mat et al., 2015). A last minute policy change also came into play, the change related to providing small-scale solar photovoltaic systems coupled with a multiplier for their respective outputs. Simultaneously, most state governments introduced premium feed-in tariffs, and there was a sought of conflict between the state governments and the federal governments (McGuirk, Dowling & Bulkeley, 2014). Such conflicts discourage prospective investors from venturing into the Renewable Energy Sector in Australia. More intently, because of the conflict between the two initiatives there was a significant distortion of the Renewable Energy Target framework. In addition, investors in the large-scale production of renewable energy sources faced difficulties. Due to the decline in the number of investors the RET framework underwent another amendment (Moore, 2014). It is crucial for the State and Federal entities to coordinate their efforts so that the realization of the sustainable energy systems becomes successful in Australia.
6.3. Inappropriate Credit Facilities
Another implication relates to the existence of phantom credit facilities. The Solar Credits Multiplier imitative led to the multiplication of falsified certificates, and this resulted in phantom credits. More precisely, some certificates did not equate to actual abatement and such certificates still counted in attaining the set targets (Moore, Horne & Morrissey, 2014). According to the Clean Energy Regulator phantom credits accounted for about 66% of the certificates required to achieve the RET targets between the periods of 2009 and 2012. It is necessary for the Australian government to nurture accurate frameworks, and this will come in handy in addressing the shortcomings posed by phantom credits.
7.0. Risks of the Energy Transition to Renewable Energy Sources
7.1. Damaging of Investor Confidence
There have been numerous policy reviews of the Renewable Energy Target, and this has an adverse effect on the confidence levels of prospective investors. More intently, it is disadvantageous that a policy consolidated to woo more investors undergoes numerous reviews that discourage the investment community (Morim et al., 2014). In addition, some investors believe that the RET framework will undergo subsequent reviews, and this makes these investors refrain from long-term investments in the Renewable Energy Sources in Australia. After the initiation of the Mandatory Renewable Energy Target, there have been five amendments to the policy framework.
The launch of the 20% RET framework was a great move, but the contributions of many other reviews were meager, and they did little to boost the investors’ confidence. Moreover, some reviews did not succeed in persuading investors to embrace long-term decisions concerning renewable energy infrastructure (Trainer, 2012). When investors’ confidence levels drop, it is a significant risk to the Australian government, and this inhibits the growth of Renewable Energy Sources in the country. The Australian government ought to embrace only the viable and necessary review to guarantee high levels of investor confidence.
7.2. Uncertainties Originating From Intense Debates about Climate Change
The Commonwealth fraternity initiated a fixed rate of a Carbon tax (23%) per ton of Carbon dioxide equivalent (CO2 e). The tax applies to all industrial entities that exceed 25000 tons in terms of emissions (Vieira, Beal & Stewart, 2014). The original intent was to enable the initiative to operate for three years and then formulate an emission-trading scheme later on. However, the Australian opposition appreciates this objective, but a vast majority of them do not approve of the mechanisms that relate to implementing the initiative. There is a significant level of uncertainty in the carbon pricing mechanism in Australia, and this may hamper the future progress of the Renewable Energy sources (D’Souza & Yiridoe, 2014). It is crucial to attain a unified opinion in regards to the Carbon Pricing Mechanism, and this will mitigate the risks posed by such uncertainties.
7.3. Incumbent Support for Other Forms of Energy
The Australian territory possesses significant amounts of cost-effective black coal, brown coal, and natural gas reserves. Moreover, these traditional forms of energy have been successful in sustaining Australia’s economy for centuries. In terms of formulating policies, the Australian locale embraces massive international provisions, and this made the Australian government to adopt renewable energy sources. In addition, in instances whereby the electricity originating from renewable sources becomes expensive the Australian citizens might opt to revert to the traditional energy sources (Foran, 2011). Thus, the incumbent support for the traditional energy sources poses an enormous risk to the success of the renewable energy sources. It is necessary to ensure that all Australians appreciate the vitality of renewable energy sources, and this will guarantee sustainable energy sources in Australia.
8.0. Opportunities of the Energy Transition to Renewable Energy Sources
8.1. Additional Renewable Energy Generation
The Renewable Energy Target avails an opportunity for Australia to increase its capacity of renewable energy sources. It is beneficial to go green in all operations, and as Australia appreciates the vitality of safeguarding the environment, the country boosts the level of investor confidence in the Renewable Energy Sector. Thus, numerous international investors may opt to venture into the large-scale renewable energy sector (James et al., 2013). The capacity of the renewable energy sources will increase because of this additional investment, and the Australian territory will realize a sustainable energy infrastructure. More intently, with the additional renewable energy sources Australia can abrogate greenhouse gas effluents, and in the process nurturing ecological sustainability of renewable energy sources.
Figure 4: Mix of Renewable Energy Sources in Australia
8.2. Improved Living Standards
With the presence of the Renewable Energy Target, the commissioned renewable energy power stations will drastically increase. Thus, numerous employment opportunities emerge, and the prevalent living standards in the Australian locale immensely improve (LePoire, 2015). In addition, energy is a critical factor to the endowment of the economy in any region, and a stable energy sector improves the per capita income and the GDP in an enormous manner. The Australian government can maximize the potential of the renewable energy sources, and this will improve the country’s economy (Martin & Rice, 2015). At the inception of the Mandatory Renewable Energy Target power generation stations drastically increased, and Australia still possesses the opportunity to improve these plants and guarantee a sustainable energy framework.
8.3. Increased Investment
Australia has a competitive edge over other nations in terms of a feasible investment location. More precisely, the Australian renewable energy sector acts like a magnet to prospective investors who appreciate the value of going green. In addition, the serene political scenario in Australia makes investors nurture an interest in investing in the country (Mat et al., 2015). The stability highlighted by the Australian political fraternity and the respect for the rule of law pan out in terms of attracting massive groups of international investors. The Australian government can exploit the investors’ confidence and persuade to venture into other industries in the country such as tourism and communications. In the end, the country’s ability to nurture a sustainable energy infrastructure becomes an assurance.
9.0. How Transferable are Lessons Learned to a Different Context
9.1. Research and Development
The Australian government appreciates the vitality of conducting in-depth research and development before executing any reviews to the RET framework (McGuirk, Dowling & Buckeley, 2014). More intently, the Australian government nurtures a consultative framework in most instances with the concerned stakeholders before reviewing the RET structure. Research and development are critical to the endowment of the Australian economy at all times. A viable lesson learned in the renewable energy sector is the dynamics related to research and development activities. Research and development dynamics are applicable across the vast industries in the Australian territory (Moore, 2014). Implementing research and development would immensely improve the Australian economy, and a consultative framework will guarantee the success of the prevalent policies in all industries.
The renewable energy sectors advocate the utmost levels of sustainability in the Australian energy infrastructure. The dynamics of sustainability are of extreme vitality and overlooking them couples with catastrophic effects on a respective country (Moore, Horne & Morrissey, 2014). Other Australian industries such as the Mining industry can borrow a page from the renewable energy sector. The Mining industries contribute to massive amounts of effluents into the earth’s atmosphere. In addition, the deposits of materials that originate from the mining industries affect the flora and fauna in the Australian region in an adverse manner (Morim et al., 2014). The mining industry and other industries ought to embrace sustainability just as the Australian renewable energy sector has.
9.3. Setting of Policies Based on Targets
The 20% Renewable Energy Target aims to nurture a culture whereby investors embrace renewable energy sources, and the policy seeks to ensure that renewables account for 20% of Australia’s energy production by 2020 (Trainer, 2012). Decision makers linked with other industries can emulate the policy makers in the renewable energy sector and formulate policies coupled with targets. Such procedures would guarantee the endowment of these other industries in subsequent years.
The Australian energy transition from the traditional sources to renewable energy sources by the inception and implementation of the RET framework highlight the utmost levels of innovation (Foran, 2011). Moreover, the initiative achieves a sustainable energy infrastructure in Australia by applying the core principles of innovation. Other countries should nurture policies similar to the Renewable Energy Target, and such procedures will guarantee energy sources that embrace sustainability in all countries.
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