Australian solar energy could cost as much as $100 billion

Australian solar energy could cost as much as $100 billion

December 27, 2011 0 By Bret Williams

The Australian government has been wary of solar energy, much to the chagrin of alternative energy advocacy groups. The government’s caution may be for good reason, according to a new report from the Australian Strategic Policy Institute, an independent group of researchers and political experts that have a keen understanding of alternative energy. The report notes that the installation of expansive solar energy farms in Canberra could cost the government more than $100 billion.

Given the price tag, it would be easy to think that such a massive energy system would provide enough electricity to power nearly the whole of Canberra. This is not so, according to the institute’s report. In order to meet the energy demands of Canberra, the government would have to build a solar farm twice the size of the region. For the government, the costs are quite high, considering the fact that more than 80% of the nation’s energy comes from indigenous coal.

While Australia has easy access to coal, which allows it to produce low-cost electricity, the nation still relies heavily upon foreign sources of oil. As the oil market grows more turbulent, the national government is looking for ways to break its dependence on oil by replacing it with alternative energy. Solar energy will likely be put on hold as the nation seeks our new energies that could help it achieve sustainability.Solar Power Report