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Assignment on Business Economics (pdf)

   

Added on  2021-06-17

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Running head: ECONOMICS FOR BUSINESSECONOMICS FOR BUSINESSName of the StudentName of the UniversityAuthor’s Note
Assignment on Business Economics (pdf)_1

1ECONOMICS FOR BUSINESSTable of contentsIntroduction......................................................................................................................................2Reasons behind Australian government taking interest in improvement in renewable energy.......2Analyzing the study in terms of economic concepts and theories...................................................3Actions recommended to the key players for improving the current condition of renewableenergy..............................................................................................................................................5Conclusion.......................................................................................................................................5References........................................................................................................................................6
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2ECONOMICS FOR BUSINESSIntroductionThe present study provides an overview on the Australia’s stand on the renewable energy.Renewable energy in this nation mainly deals with efforts for quantifying as well as expandingthe utilization of renewable energy in electricity generation as fuel in thermal energy andtransport. Renewable energy is mainly created through generation of electricity using certainrenewable sources, for example- hydro, geothermal, solar thermal, landfill gas and wind.(Twidell and Weir 2015) The consumption of renewable energy was 5.9% of the total energyconsumption of this nation in the year 2015. Over the last few years, there has been extensivegrowth in generation of the renewable electricity in this nation. This study is further analyzedwith the help of economic theories and concepts. In the last section, recommendation is alsoprovided to the keyholders of this country for improvement of the present condition.Reasons behind Australian government taking interest in improvement in renewable energy Recent evidences reflect that the renewable energy in Australia has been slightlydeclining over the last few decades. The policymakers of this nation thereby adopted newrenewable energy policies for reducing greenhouse gas emission and increasing renewableenergy. The two major policy instruments that presently drives increase in the renewable energyinvolves- the Australian Government’sRET (Renewable Energy Target ) schemeand FiT(state-based feed-in tariff ) schemes (Azad et al. 2012). The review of all these schemes reflects thatthe policymakers of this country have increased total investment in the infrastructure of therenewable energy and also enhanced uptake of the renewable energy systems. The main aim ofthe policymakers behind adoption of these schemes is to boost electricity from the renewable
Assignment on Business Economics (pdf)_3

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