This report examines Australia's commitment to renewable energy and the economic consequences of its subsidy policies. The analysis focuses on a news article that claims subsidies for renewable energy are driving up electricity bills. It discusses economic theories related to subsidies and their impact on supply and demand, highlighting the potential for supply shortages and increased prices. The report recommends a balanced approach to transitioning from conventional energy sources to renewables, emphasizing the need for detailed public information and gradual implementation to avoid power shortages and price hikes. It concludes that while Australia's shift to renewable energy is vital, careful policy revision is necessary to balance clean energy goals with the economic interests of its citizens. Desklib provides a platform to access similar solved assignments and study resources.