Australia’s renewable energy sector has begun losing out on outside private investments due to the country’s lack of a clear direction for the future of the industry. Many other countries, in recent years, have set definitive carbon emission goals as well as establishing a an ideal level of energy output that comes from renewable energy resources. Australia, on the other hand, has made a haphazard attempt to generate productivity in the industry and it has drastically affected the incoming flow of wealth that would allow for further development.
“The damning report on the state of renewable energy, entitled Lagging Behind: Australia and the Global Response to Climate Change, said the country was losing out on valuable business. Investment that could be coming to Australia was going overseas "to countries that are moving to a renewables energy future", said Tim Flannery, one of the report's authors. He said most countries around the world had accelerated action on climate change in the last five years because the consequences had become more and more clear” (www.bbc.com).
In order to maintain a similar level as its competition, Australia will need to boost its carbon reduction efforts to 40% by the year 2025 (www.bbc.com). Unless the Australian government wishes to step in and enact legislation that sets a clear course for the country’s future in the field of renewables, the industry will continue to look bleak for the foreseeable future.
With international treaties being put into place that promise a certain level of transition into renewable energy as well as an agreed reduction of carbon emissions, Australia will be left behind if they do not join the movement now. This is the era of transition into renewables, and only the countries that join the bandwagon will be the successful ones.
“The damning report on the state of renewable energy, entitled Lagging Behind: Australia and the Global Response to Climate Change, said the country was losing out on valuable business. Investment that could be coming to Australia was going overseas "to countries that are moving to a renewables energy future", said Tim Flannery, one of the report's authors. He said most countries around the world had accelerated action on climate change in the last five years because the consequences had become more and more clear” (www.bbc.com).
In order to maintain a similar level as its competition, Australia will need to boost its carbon reduction efforts to 40% by the year 2025 (www.bbc.com). Unless the Australian government wishes to step in and enact legislation that sets a clear course for the country’s future in the field of renewables, the industry will continue to look bleak for the foreseeable future.
With international treaties being put into place that promise a certain level of transition into renewable energy as well as an agreed reduction of carbon emissions, Australia will be left behind if they do not join the movement now. This is the era of transition into renewables, and only the countries that join the bandwagon will be the successful ones.
