Australia’s Renewable Energy Takes A Huge Leap Forward

By: Stanford Magnets  04/02/2014
Keywords: Neodymium Magnets, Rare-earth Magnet

Wind power is associated with a wide array of benefits and they have made this energy source more competitive than alternatives. Australia is the best example available in the present world to prove the above mentioned fact. In Australia, the energy generated using wind is cheaper than other alternatives such as fossil fuel burning.

According to the statistical information, a single wind farm has the ability to generate power of one megawatt hour at a price of 80 Australian dollars. The cost associated with generating one megawatt hour of energy using fossil fuels is around 143 Australian dollars and using natural gas is around 116 Australian dollars. Therefore, it is clear that using wind power is the best option available for the Australian government to cater the energy requirements of the country.

There are some reasons which have contributed towards the high cost of energy generation with fossil fuels and natural gas. For example, the government has imposed a tax on carbon emissions and this has also increased the prices of natural gas. In addition, the prices of equipment needed to generate solar power have dramatically increased within the past few years. The 10% rise of this equipment that took place in 2011 reduced the solar power generation by 29%. All these reasons have created an ideal platform for wind generation within the country.

Since the wind energy has become more competitive, the Australian government is expecting to cater 20% of their energy requirements with this energy source. Since Australia is naturally gifted with wind power, they are in the process of installing wind farms throughout the country to implement their plans. According to the Australian government, the cost and time they spend on installation of wind farms is a great investment done towards the future of the country. In addition, it will reduce the carbon emissions, which can help in saving the planet earth as well.

The cost associated with renewable energy sources are decreasing when compared to gas and coal plants. This suggests that the energy production capacity using renewable sources are expected to rise within the next few years. In the year 2013, the renewable energy contributed to about 12% of the electricity production of Australia. It is a significant rise when compared to the 9.6% in 2012.

However, the Australian government has paid attention towards the unpredictable nature of wind as well. This has led them to create backup generators, which can provide a constant supply of energy throughout the entire year. The taxes imposed by the government have made wind power generation more competitive and it will experience a boost within the next few years.

Keywords: Neodymium Magnets, Rare-earth Magnet

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