Energy Policies of IEA Countries: Australia 2012
The IEA's 2012 review of Australia's energy policies and programmes finds that Australia
enjoys the benefit of abundant and diverse energy resources; it is the world’s ninth-largest
energy producer and is one of only three net energy exporters in the OECD. Its substantial
conventional energy resource base includes coal, natural gas, oil and uranium. The
country also enjoys extensive wind, solar and geothermal resources as well as large
biomass and ocean energy potential.
The energy sector is a significant contributor to the Australian economy. Exports
have more than tripled over the past decade and surging economic and social expansion
in relatively nearby emerging economies such as China and India has driven significant
demand for Australian energy and mineral resources. This boom is widely forecast to
continue in the coming decades.
Late in 2011, the Australian government released a draft energy white paper, which
sets out a comprehensive strategic policy framework to guide the development of the
energy sector. Also in 2011, the Australian government announced a climate change
plan including a wide-ranging package of clean-energy proposals and the introduction
of a carbon price mechanism accompanied by significant levels of financial support
for innovation in clean-energy technologies.
The scale of Australia’s energy policy ambitions is enormous and very costly even
for a resource-rich nation. Significant investments will be needed for the clean-energy
transition and building the infrastructure necessary to expand the domestic resource
base. This review analyses the energy-policy challenges facing Australia and provides
critiques and recommendations for further policy improvements. It is intended to help
guide the country towards a more secure and sustainable energy future.
Published on November 19, 2012
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