The paper 'Wind and Solar Energy in Australia' is a great example of a Macro and Microeconomics Case Study. Energy reliability is very essential for any sector of the economy to conduct its operations effectively. All industries require a sustainable source of energy in order to succeed in their operations. Traditional sources of energy such as installing generators are very expensive to maintain, noisy and pollutes the environment (Marteena, 2006). From the research which has been conducted in Australia, it is clear that renewable energy is needed to sustain the industries and also the cost of using nonrenewable energy.
From this research which has been conducted, it is clear that renewable sources of energy in Australia are not sustainable. The main sources of energy that will be discussed in this paper are the solar and wind energy in Australia. This essay will compare and contrast, wind and solar energy use in Australia, the economic viability of wind and solar energy, and the reasons why they have not been successfully leading to a lack of sustainability. It will also discuss the economic benefits of using wind and solar energy as well as the effects of using wind and solar energy. Solar energy is among the most common source of renewable energy used in Australia.
The federal government of Australia was advised by the Kyoto treaty to help in reducing global warming by introducing renewable sources of energy in its production of energy such as solar energy. From the research which has been conducted in Australia, it has been found that the Northern territory is the most suitable state where solar energy can be produced on a large scale when compared to states like Tasmania.
A solar system generates about 50MW/km2. The renewable energy target for Australia is 45,000GWh by the year 2020 (Liam, et al. 2013). This represents a 20% target of renewable energy (Shafiullah et al 2010). The diagram below indicates solar energy production per state; (Shafiullah et al 2010, p 5) The advantage of solar energy is that it is less costly. The cost of installing the production of solar energy is not high and can be afforded by many energy users. For instance, the installation costs of a converter for converting Alternating Current to Direct Current is AU$800.
This implies that the cost of installing equipment for producing solar energy is not too high, hence it helps to cut down the cost of electricity (Shafiullah et al 2010). Another advantage of solar energy is that it can be used in remote areas where it is expensive to distribute electricity. This is because the transportation costs of renewable sources of energy will be high as well as the cost of installing hydroelectric power.
Solar can be found in plenty in remote areas and the space required for installation is available. In this effect, solar energy can serve as a source of energy in remote areas of Australia such as the Northern part which is plenty of solar sources. Another advantage of solar energy is that it is on a massive scale and available in the open space. This makes it cheaper than other sources of energy which are not freely available. In this case, solar energy in the Northern parts of Australia is most common as the place has plenty of solar (Andrew 2009).
In addition, another advantage is that the methods used to convert solar into energy are environmentally friendly. This is because the equipment which is used to convert the solar into energy produces less or very little pollution which does not pollute the environment. This implies that solar energy is environmentally friendly because it does not pollute the environment. Furthermore, solar energy power stations produce less noise which does not affect the surrounding environment such as the people living around the area.
This implies that there are minimal hazards to the surrounding environment which can affect the living standards of the people. The process of installing solar energy equipment is shown in the diagram below;
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