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Economic Theories and Concept - Assignment

   

Added on  2021-06-16

8 Pages1488 Words25 Views
Running Head: ECONOMICS ASSIGNMENT Economics AssignmentName of the StudentName of the UniversityCourse ID

ECONOMICS ASSIGNMENT 1Table of ContentsIntroduction......................................................................................................................................2Brief summary of the article............................................................................................................2Article evaluation; economic theories and concept.........................................................................3Recommendation.............................................................................................................................5Conclusion.......................................................................................................................................6List of references.............................................................................................................................7

ECONOMICS ASSIGNMENT 2Introduction Australia has put continuous effort to increase the use of renewable energy sources togenerate electricity. Australia aims to replace power generated from coal and gas fired stationwith power plants fueled by renewable energy sources. Wind, solar, hydro, geothermal, landfillgases are some of the commonly used renewable energy sources. Australia has recorded agradual increase in renewable energy consumption which has increased from 5.9% in 2011-12 to5.9% in 2015 and now is has become a double digit figure (arena.gov.au 2018). Transition torenewable energy source though initially face trouble but now the nation has made considerableprogress and has potential for further improvement. Brief summary of the article The article reported that that renewable power sources in Australia is able to meet 90% ofpower demand in the nation. If the solar and wind projects initiated in the last year are completedthen the power demand can be met using renewable sources. In the last year, the renewableenergy sector was far from meeting the consumption demand. The renewable energy sources inthe last year could generate electricity enough to meet 70% of household demand. TheRenewable energy index in recent years has found that there if all the solar and wind projectshave completed then their power generation will be enough to meet 90% of power demand(theguardian.com 2018). The renewable energy has shown sufficient advances despite of country’s dependency oncarbon and gas-fired station to meet electricity demand. The share of renewables in powergeneration has now increased to 18.8% as against only 7% in the last decade. The increasingshare of renewables helps the nation to reduce carbon emission. Hydro-electricity is the biggest

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