Renewable energy is used for terming that energy which is extracted from the inexhaustible sources. Inexhaustible sources are those sources, which can be replaced in the earth, such as tides, wind, sunlight, heat which is geothermal by nature and of course the most important of all, the rain. Renewable energy has proved to be a valuable environmentally conscious source of century in the 21st century (Nesta, Vona and Nicolli 2014). The report outlines the fact to take into consideration a particular business sector and a corporate case relevant to the sector in order to assess the impact of the climate changes. The Australian government has implemented the Carbon tax and The Direct Action Plan in a span of couple of years to minimize the emission of greenhouse gas. An effective discussion of the Carbon Tax and the Direct-Action Plan has been thoroughly attempted in this report to highlight the impacts of the climate change (Aghaei and Alizadeh 2013).
Renewable energy is generally used to term the energies, which by nature are replaceable or inexhaustible. Renewable energy consists of many vital sources such as the sunlight, air, water, tides and others. At present, Sunlight is considered to be the major supplier to the renewable energy sector. Another important source, which is worth noting, is the geothermal heat (Self, Reddy and Rosen 2013).
Renewable energy, when implemented in a country, it must be carefully revised from the legal and the political viewpoints. Politically, renewable energy can be segregated into varied categories. The parameters, which help to set the categories, are the governmental or the diplomatic goals or motives of the concerned renewable energy source.
Different countries have different sources of energy available in their region. It can be that the extraction of solar energy from a country is possible in a country because of its abundance of sunlight. However, that same country might not be ideal for hydro electricity purposes because of water deficit. Therefore, all the countries should implement political guidelines as per their execution percentage of renewable energy.
In the legal sense, the policymakers should also check aptly with the actual authority and dominion of the natural resources before commercially extracting energy from them. In addition to this, the renewable energy comprises a broad term. Other countries might have different criteria. Therefore, the legal guidelines are equally important as the political guidelines before subjecting them to renewable energy extraction (Gowrisankaran, Reynolds and Samano 2016).
Renewable energy has the merits of sustainability, compassion to the environment, healthy variations and others. An important demerit, which can be said in terms of renewable energy, is that sometimes the cost of the energy application may become higher than the benefits incurred. This usually happens when a country is not at all source productive for the application of a certain renewable energy. Overall, renewable energy is considered to be very advantageous and beneficial for the 21st century world (Lopes, Antunes and Martins 2012).
The impacts of the climate on the solar energy will ultimately reflect on the business turnover rate of a solar energy retailer. Solar energy is considered to be a potential solution to the horrid effects of global warming due to the ozone layer depletion. Undoubtedly, solar energy serves to be a resolution to the many environmental or climatic disasters; there are also certain impacts of the climate on a solar energy supplier, which must be considered (Feng et al. 2012).
As the solar energy helps in reducing the after-effects of the global warming, likewise, the increasing global warming also casts complicated impacts on the solar energy production such as over expenses and depletion in the quality of the energy. The rise in global warming can cast negative effects on the solar energy production because of the installation of the photovoltaic instrument panel (Kamat 2013). Photovoltaic instrument fails to perform due to humidity in the climate, so it will cast negative impact upon the business of a solar energy retailer.
As the climate becomes warmer, solar energy production starts to decrease because of the failure of the performance of the dry cooling technology. The dry cooling technology is considered to one of the important concepts in increasing and synchronizing the production of solar energy. Dry cooling technology also helps to reduce the manufacturing cost of the solar energy. However, in the light of a warmer climate, dry cooling technology would cease to function to the maximum level. This in turn would seriously affect the business of a solar energy retailer. Therefore, the climate change would have negative impact upon the business of the solar energy retailer (Schaeffer et al. 2012).
The constant ongoing air pollution is also predicted to cast negative impacts on the business of a solar energy retailer. It is assumed by the scientists that severe air pollution would have negative impacts upon the business of a solar energy retailer. (López-Menéndez, Pérez and Moreno 2014). Limitation in the supply of solar energy would overall render the application of the renewable energy fruitless.
Solar energy requires abundant supply of water, therefore, depletion of the water resources due to the adverse climate change, would make the usage of the photovoltaic instruments faulty. Scarcity in water would have negative impacts on the business of a solar energy retailer. Even the alteration in the prices of the fossil fuels due to climate change would negatively affect the solar energy production since fossil fuels are the primary ingredient in solar energy generation (Höök and Tang 2013). Therefore, from the above analysis, it is evident that the predicted climate changes would have negative impacts upon the business of a solar energy retailer.
In the year 2012, the Australian government introduced a carbon tax under the act of clean energy. The rationale and theoretical underpinnings of the Carbon Tax was to regulate the harmful emissions of carbon in the Australian environment and to sustain the positive development of the Australian economy (Jotzo 2012). The Direct Action Plan was implemented by the Australian government to lessen the transmission of the carbon gas emissions and equally to curtail the factory-based costs in the Australian economy. The Direct Action Plan was passed under the wing of the Emissions Reduction Fund.
Though Carbon Tax was very effective in lessening the amount of environmental carbon emissions, it was ultimately called off. The Direct Action Plan was then introduced to replace the so-called failed Carbon Tax. The carbon tax faced innumerous obstacles from the public and the opposition political parties because Carbon Tax unintentionally increased the cost of the energy supplies for both commercial and non-commercial purposes (Tranter 2013). In the western developed global scenario, Australia is known for being the highest emitter of carbon. In the light of this, carbon tax was implemented. Through the Carbon Tax, the Australian government made it a rule that the emitters of carbon would have to shell out a fixed amount of tax as per a tone of carbon. The Direct Action Plan on the other hand led to the provision of helping funds to the firms to make the carbon reduction policy attractive (Byrnes et al. 2013).
The Carbon Tax unbelievably helped in the reduction of carbon emission by strictly regulating Australia’s biggest transmitters of carbon. Along with this, the Carbon Tax helped in the productivity of the economy by amplifying the income of the middle class and the lower middle class Australians. The reduction in the massive harmful pollution helped in elevating the income levels. The Direct Action Plan, which was thought to be an advanced version of the Carbon tax, had failed to garner positive attention (Effendi and Courvisanos 2012). The results were not so appealing. It failed to create pressure on the infamous carbon transmitting firms to reduce their emission quotient.
At the end, unfortunately, Carbon Tax led to the steep rise in the price of the electricity, which made the middle and the lower class people suffer financially. Even the minor business establishments had faced great economic downfalls (Robson 2014). This also led to the employment losses of millions of Australians due to the closures of the factories and firms. Direct Action Plan on the other hand came up with attractive proposals on board. However, the promised incentive was too low for the companies to set a minimal target amount for carbon emissions (Bradshaw et al. 2013).
Many managers have even attested to this fact that the Carbon Tax was more terrifying than the Direct Action Plan. Many researches and surveys have also displayed the fact that Carbon Tax has lessened the carbon gas emission by a whopping 30%, which is quite impressive as compared to the Direct Action Plan. (Dwyer et al. 2013). Overall, it can be said that from the comparison and contradistinction of the Carbon Tax and the Direct Action Plan, it is very clear that Carbon tax is a clear winner in terms of its rationale, theoretical underpinnings and reduction in carbon emissions.
In a carbon-constrained world, the risks of the solar energy retail business are low. Solar energy is regarded to be a low carbon-intensive energy supplier. The business of the solar energy retailer is not going to face any striking hardships. Solar energy requires little induction of carbon materials because of the installation of the photovoltaic instrument panels. These photovoltaic instrument panel helps in the generation of the electricity from the direct sunlight through an electric procedure. This electric procedure is a very good produce in powering any sizes or figures of electric loads. As a result, Photovoltaic instrument panels had further helped the low carbon generating solar energy to do away with carbon materials. Therefore, with the massive popularity of the installation of the photovoltaic instrument panel will definitely make the business of the solar energy retailer risk free in a carbon-constrained world (Scott et al. 2013).
The carbon constraint world has also provided valuable opportunities to the solar energy production. A solar energy retailer can definitely take advantage of the concentrating solar power and the solar thermal systems. The solar thermal system is a nature friendly heating machine for household purposes. Low carbon emissions have led to the expansion of the solar energy business. A retailer of solar energy can now produce electricity for household purposes and other non-commercial purposes. The concentrating solar power, another effective solar business related practice became possible due to the low carbon emissions, leads to efficient congregation of the sunlight. Efficient concentration of sunlight makes the production of the solar energy more refined and upgraded. It also makes the solar energy pollution free. Thereby, it can be said that the solar energy retailer will have great opportunities and less risks in a carbon-constrained world (Steinberger et al. 2012).
A solar energy retailer faces very little risk in a carbon-constrained world. The low emissions of carbon lead to growth and prosperity in a solar energy business. However, every business establishment is more or less risk prone. In that light, the solar energy retailer can face some problems. For this, the application of certain adaption strategies would be extremely useful for the business of a solar energy retailer. The Solar energy business can be subjected to certain sustainable adaption techniques such as framing and outlining the effects of climate change due to low carbon emissions. The parameters of minimizing and coping with the invariable climate changes must be clearly stated for the solar energy retailer. There are many NGOs and government teams, dedicated to the task of providing effective solutions to the solar energy suppliers in case of any carbon or climate related problems. The solar energy retailer can possibly take help from such NGOs or government related help teams to formularize the solar energy output to increase the profitability ratio in a carbon-constrained world (Watson, Iwamura and Butt 2013).
Conclusion
Therefore, from the above analysis, it can be said that renewable energy sources are playing a very important role in the electricity sector in the ever-polluted 21st century. The world has come to a standstill in terms of resource saving energy and pollution creation. Renewable energy at this time has appeared in the global scenario as a savior. Renewable energy sources are very efficient in reducing the overall effects of pollution in the world as well as producing functional electricity. Among all the sources of renewable energy, solar energy is the most profitable one. Solar energy leads to massive pure generation of electricity. It also keeps the production cost low and takes reasonable time. In addition to this, solar energy assists in the mitigation of carbon or greenhouse gas emissions and limits the reliability on fossil fuel. The worldwide popularity of solar energy, without any doubts, would help humans to lead a pollution free life in the future.
The most apt recommendations for the carbon emissions would be to formulate a policy or a tax, taking only the positive characteristics of the Carbon Tax. The solar energy retailer must keep his or her business updated with the new solar market and environmental policies. The solar energy retailer must avail the latest and modern technologies and instruments, which are available in the market, to increase the output of the business.
References
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