Remedies for Rising Energy Bills and Climate Change

energyeducation.tx.govAustralia’s energy prices will continue to rise over the next couple of years, and while there are several contributing factors one of the major ones is the fact that the country still relies heavily on coal, more than any other progressive country in the world. The rising cost of electricity not only burdens families and the local business sector, but also puts foreign investments into jeopardy in Australia.

The high overheads cost in manufacturing industries especially is influencing investors to put their money elsewhere, mostly Asian countries especially China. As energy prices continue to skyrocket, the country will see an economic downfall despite the fact the Australian currency is doing well in these times.
The introduction of a carbon price and whole Clean Energy Future Package will direct the country towards a more sustainable low carbon economy, and once enough investments are made intolarge scale renewable energy technologies cheaper electricity can be produced.

The carbon tax will initiate a huge transformation in the country’s energy sector. According to the Prime Minister and the Greens, the tax will bring innovation in the industrial and manufacturing sector of the country towards more efficient ways of producing their products. The Clean Energy Future Package, together with the $10 billion Finance Corporation and the Australian Renewable Energy Agency, will play an essential role throughout the entire process.
Putting a price on carbon as soon as possible is beneficial for the countries economy; according to PM Gillard delaying it would cost the government another $5 billion, and the package is the most economically structured way to fight climate change. Business experts, economist and research firms have all showed that the carbon tax will boost Australia’s economy and will bring substantial investments in the sustainability market.

In fact the 4 biggest players in green investments; the Investor Group on Climate Change, Institutional Investors Group on Climate Change, Investor Network on Climate Risk and the United Nations Environment Program Finance Initiative, have all acknowledge Australia’s carbon tax package will provide confidence in investors to put their money in the country.

As well as providing extensive support for businesses during the transition, the government will be providing ongoing incentives for individuals who wish to go green. For instance installing rooftop solar panels orsolar hot water systems is an effective way to offset carbon and save money on energy bills for families and so financial assistance in the form of rebates will continue.
The effects of the carbon tax in the way of any increased cost of living will also be subsidised by tax cuts and discounts. On average, 9 out of 10 families in the country will receive full compensation for the additional expenses.