ORIGINAL PAPER
The current state and prospects for further development in the energy sector in Australia: reforms, foreign economic relations, investment climate
1
Azerbaijan Academy of Labor and Social Relations, Azerbaijan
2
Azerbaijan State University of Economics, Azerbaijan
3
Azerbaijan State Oil and Industry University, Azerbaijan
4
Agricultural Economics Research Center, Azerbaijan
Submission date: 2023-04-03
Final revision date: 2023-04-19
Acceptance date: 2023-04-19
Publication date: 2023-06-19
Polityka Energetyczna – Energy Policy Journal 2023;26(2):105-120
KEYWORDS
TOPICS
Energy policyEnergy economicsRenewable energy sourcesEcological, economic, social and legal aspects in energy systemsEffective use of energyDevelopment of new energy technologiesRegional issues of fuels and energy
ABSTRACT
In recent years, the Australian government has changed course with regard to the gradual replacement of the country’s energy supply by traditional energy resources to alternative renewable energy sources to preserve the environment. The research relevance is predefined by the need to introduce the latest technology and to find investors for the further development of the state energy sector. In this regard, the research to reveal the current state of the energy sector in Australia, the study of existing projects, their productivity, and their impact on the environment. The main methods of research are the method of analysis of existing publications describing the current state of the energy sector as well as the method of comparing the country’s energy performance before and after the implementation of relevant reforms to better illustrate the effectiveness of existing projects. As a result, it was determined that the Australian government pursues a policy of carbon neutrality in the energy industry to reduce the harm caused to nature by harmful emissions into the atmosphere. The state has a focus on reducing the cost of electricity. It is also determined that Australia has a positive attitude toward foreign investment and is open to proposals for new technologies that improve the efficiency and security of the energy supply. The research mentions Australia’s main trading partners, their joint projects, and enterprises. The main directions of alternative energy currently used, their advantages, and their disadvantages are identified. The research result may be of practical value for investors in the field of renewable energy sources in order to better understand the energy market in Australia and possible prospects, as well as for all interested parties.
METADATA IN OTHER LANGUAGES:
Polish
Stan obecny i perspektywy dalszego rozwoju sektora energetycznego w Australii: reformy, zagraniczne stosunki gospodarcze, klimat inwestycyjny
odnawialne źródła energii, ochrona środowiska, zaopatrzenie w energię, wzrost PKB, struktura rynku
W ostatnich latach rząd Australii zmienił kurs w zakresie stopniowej wymiany zaopatrzenia kraju w energię z tradycyjnych źródeł energii na alternatywne odnawialne źródła energii w celu ochrony środowiska. Znaczenie badań predestynowane jest koniecznością wprowadzania najnowszych technologii oraz pozyskiwania inwestorów dla dalszego rozwoju państwowej energetyki. W związku z tym badania mają na celu ujawnienie aktualnego stanu sektora energetycznego w Australii, badanie istniejących projektów, ich produktywności i ich wpływu na środowisko. Głównymi metodami badawczymi są metoda analizy istniejących publikacji opisujących aktualny stan sektora energetycznego oraz metoda porównywania wyników energetycznych kraju przed i po wdrożeniu odpowiednich reform, aby lepiej zobrazować efektywność istniejących projektów. W rezultacie ustalono, że rząd Australii prowadzi politykę neutralności węglowej w energetyce, aby zmniejszyć szkody wyrządzane naturze przez szkodliwe emisje do atmosfery. Państwo koncentruje się na obniżeniu kosztów energii elektrycznej. Ustalono również, że Australia jest pozytywnie nastawiona do inwestycji zagranicznych i otwarta na propozycje nowych technologii poprawiających efektywność i bezpieczeństwo dostaw energii. W badaniu wymieniono głównych partnerów handlowych Australii, ich wspólne projekty i przedsiębiorstwa. Zidentyfikowano główne kierunki obecnie stosowanych alternatywnych źródeł energii, ich zalety i wady. Wynik badań może mieć wartość praktyczną dla inwestorów w obszarze odnawialnych źródeł energii w celu lepszego zrozumienia rynku energii w Australii i możliwych perspektyw, a także dla wszystkich zainteresowanych.
REFERENCES (36)
1.
About foreign investment 2022. [Online] https://www.dfat.gov.au/trade/... [Accessed: 2022-12-10].
2.
Australia’s energy strategies and frameworks 2022. [Online] https://www.energy.gov.au/gove... [Accessed: 2022-12-10].
3.
Australian energy market agreement 2013. [Online] https://www.energy.gov.au/gove... [Accessed: 2022-06-10].
4.
Australian infrastructure plan: Priorities and reforms for our nation’s future 2016. [Online] https://apo.org.au/sites/defau... [Accessed: 2022-12-10].
5.
Azerbaijan is among the world leaders of green energy 2022. Azerbaijan State News Agency AZERTAJ. [Online] https://azertag.az/ru/xeber/Az... [Accessed: 2022-12-10].
6.
Baizakova et al. 2016 – Baizakova, K., Bolatkhan, M. and Baikushikova, G. 2016. Energy measurement of the safety as a factor of sustainable development in the Republic of Kazakhstan. International Journal of Environmental and Science Education 11(18), pp. 11569–11583.
7.
Beasy et al. 2023 – Beasy, K., Lodewyckx, S. and Mattila, P. 2023. Industry perceptions and community perspectives on advancing a hydrogen economy in Australia. International Journal of Hydrogen Energy 48(23), pp. 8386–8397, DOI: 10.1016/j.ijhydene.2022.11.230.
8.
Chu et al. 2022 – Chu, S., Sethuvenkatraman, S., Goldsworthy, M. and Yuan, G. 2022. Techno-economic assessment of solar assisted precinct level heating systems with seasonal heat storage for Australian cities. Renewable Energy 201, pp. 841–853, DOI: 10.1016/j.renene.2022.11.011.
9.
Commercial and economic cooperation between Ukraine and Australia 2020. [Online] https://australia.mfa.gov.ua/s... [Accessed: 2022-06-10].
11.
Havrysh et al. 2020 – Havrysh, V., Kalinichenko, A., Mentel, G., Mentel, U. and Vasbieva, D.G. 2020. Husk energy supply systems for sunflower oil mills. Energies 13(2), DOI: 10.3390/en13020361.
12.
Havyatt, D. 2020. A history of electricity reform in Australia. [Online] https://www.researchgate.net/p... [Accessed: 2022-06-10].
13.
Higginson et al. 2020 – Higginson, S., Milovanovic, K., Gillespie, J., Matthews, A., Williams, C., Wall, L., Moy, N., Hinwood, M., Melia, A. and Paolucci, F. 2020. COVID-19: The need for an Australian economic pandemic response plan. Health Policy and Technology 9(4), pp. 488–502, DOI: 10.1016/j.hlpt.2020.08.017.
14.
Karim, S. and Naeem, M.A. 2022. Clean energy, Australian electricity markets, and information transmission. Energy Research Letters 3(3), DOI: 10.46557/001c.29973.
15.
Lang et al. 2022 – Lang, A., Lane, R., Zhao, K. and Raven, R. 2022. Energy efficiency in the private rental sector in Victoria, Australia: When and why do small-scale private landlords retrofit? Energy Research and Social Science 88, DOI: 10.1016/j.erss.2022.102533.
16.
Lu et al. 2022 – Lu, L.-C., Chiu, S.-Y., Chiu, Y.-h. and Chang, T.-H. 2022. Sustainability efficiency of climate change and global disasters based on greenhouse gas emissions from the parallel production sectors – A modified dynamic parallel three-stage network DEA model. Journal of Environmental Management 317, DOI: 10.1016/j.jenvman.2022.115401.
17.
Martin, N. and Rice, J. 2021. Power outages, climate events and renewable energy: Reviewing energy storage policy and regulatory options for Australia. Renewable and Sustainable Energy Reviews 137(C), DOI: 10.1016/j.rser.2020.110617.
18.
National energy performance strategy 2022. [Online] https://www.energy.gov.au/gove... [Accessed: 2022-06-10].
19.
Ngo et al. 2021 – Ngo, T., Ball, A. and Shahsavari, E. 2021. The current status, potential benefits and future prospects of the Australian biogas sector. Journal of Sustainable Bioenergy Systems 11(1), pp. 14–32, DOI: 10.4236/jsbs.2021.111002.
20.
Niyazbekova et al. 2021 – Niyazbekova, S., Moldashbayeva, L., Kerimkhulle, S., Jazykbayeva, B., Beloussova, E. and Suleimenova, B. 2021. Analysis of the development of renewable energy and state policy in improving energy efficiency. E3S Web of Conferences 258, DOI: 10.1051/e3sconf/202125811011.
21.
O’Neill et al. 2021 – O’Neill, L., Thorburn, K., Riley, B., Maynard, G, Shirlow, E. and Hunt, J. 2021. Renewable energy development on the Indigenous Estate: Free, prior and informed consent and best practice in agreement-making in Australia. Energy Research Social Science 81, DOI: 10.1016/j.erss.2021.102252.
22.
Penesis et al. 2018 – Penesis, I., Hemer, M., Cossu, R., Hayward, J., Nader, J.-R., Rosebrock, U., Grinham, A., Sayeef, S., Osman, P., Marsh, P. and Couzi, C. 2018. Tidal energy in Australia – Assessing resource and feasibility to Australia’s future energy mix. Paper presented at the The 4th Asian Wave and Tidal Energy Conference (AWTEC 2018), 09–13 September, Taipei, Taiwan.
23.
Pluss, M. 2019. The world energy market and Australian energy: Economic and business perspectives. Geography Bulletin 51(3), pp. 64–70.
24.
Pour et al. 2018 – Pour, N., Webley, P.A. and Cook, P.J. 2018. Opportunities for application of BECCS in the Australian power sector. Applied Energy 224, pp. 615–635, DOI: 10.1016/j.apenergy.2018.04.117.
25.
Rausch, P. and Suchanek, M. 2021. Socioeconomic factors influencing the prosumer’s investment decision on solar power. Energies 14(21), DOI: 10.3390/en14217154.
26.
Say et al. 2023 – Say, K., Csereklyei, Z., Brown, F.G. and Wang, C. 2023. The economics of public transport electrification: A case study from Victoria, Australia. Energy Economics 120, DOI: 10.1016/j.eneco.2023.106599.
27.
Shalbolova et al. 2021 – Shalbolova, U., Chikibayeva, Z. and Kenzhegaliyeva, Z. 2021. Efficiency of investment projects to modernize facilities housing and communal services (case of Kazakhstan). IOP Conference Series: Earth and Environmental Science 650(1), DOI: 10.1088/1755-1315/650/1/012075.
28.
Shalbolova, U. and Kenzhegaliyeva, Z. 2018. Main directions of smart city development in the republic of Kazakhstan. MATEC Web of Conferences 251, DOI: 10.1051/matecconf/201825105042.
29.
Strazzabosco et al. 2022 – Strazzabosco, A., Gruenhagen, J.H. and Cox, S. 2022. A review of renewable energy practices in the Australian mining industry. Renewable Energy 187, pp. 135–143, DOI: 10.1016/j.renene.2022.01.021.
30.
Suleimenov et al. 2020 – Suleimenov, I., Egemberdieva, Z., Bakirov, A., Baipakbayeva, S., Kopishev, E. and Mun, G. 2020. Efficiency Problem of renewable energetics systems in the context of a ‘smart house’ concept. E3S Web of Conferences 164, DOI: 10.1051/e3sconf/202016413002.
31.
Trade and Investment at a glance 2021, 2021. [Online] https://www.dfat.gov.au/public... [Accessed: 2022-06-10].
32.
Trinh et al. 2022 – Trinh, N.T., Nguyen, T.P.T. and Nghiem, S.H. 2022. Economic policy uncertainty and other determinants of corporate cash holdings of Australian energy companies. International Journal of Energy Sector Management 16(6), pp. 1192–1213, DOI: 10.1108/IJESM-10-2020-0005.
33.
Udemba, E.N. and Alola, A.A. 2022. Asymmetric inference of carbon neutrality and energy transition policy in Australia: The (de)merit of foreign direct investment. Journal of Cleaner Production 343, DOI: 10.1016/j.jclepro.2022.131023.
34.
Wolek et al. 2021 – Wolek, M., Suchanek, M. and Czuba, T. 2021. Factors influencing walking trips. Evidence from Gdynia, Poland. PLoS ONE, 16(8 August), DOI: 10.1371/journal.pone.0254949.
35.
Wood, T. 2019a. Australia’s energy transition: a blueprint for success. Melbourne: Grattan Institute.
36.
Wood, T. 2019b. Three ways to start fixing Australia’s energy policy mess. Melbourne: Grattan Institute.
Share
RELATED ARTICLE
| eISSN: | 2720-569X |
| ISSN: | 1429-6675 |
We process personal data collected when visiting the website. The function of obtaining information about users and their behavior is carried out by voluntarily entered information in forms and saving cookies in end devices. Data, including cookies, are used to provide services, improve the user experience and to analyze the traffic in accordance with the Privacy policy. Data are also collected and processed by Google Analytics tool (more).
You can change cookies settings in your browser. Restricted use of cookies in the browser configuration may affect some functionalities of the website.
You can change cookies settings in your browser. Restricted use of cookies in the browser configuration may affect some functionalities of the website.
