Cost and scale, are the two considerations, that underlines the options being regarded by the Australian Energy industry. The country will soon face a serious short fall of operating energy stations. The choice of energy along with silence on the part of big investors, is delaying decision making, which could negatively impact the energy market and by extension the economy. To top it all, there is the unending debate on the precarious state of nuclear energy to be used as the source.
Industry Super Australia (ISA) argued that nuclear energy should be given a serious consideration for powering the sector. It is realistic and cost effective as per the study by industry superannuation’s chief lobby group. In the present climate, and following the devastation at Chernobyl, Three Mile Island and Fukushima, the ethical connotations of using nuclear energy, are being seriously questioned.
“If you look at the output of the nuclear industry, and if you consider its future relative to other technologies, it looks awfully good relative to some of the other potential technologies and therefore it shouldn’t be excluded from consideration,” ISA’s chief economist Stephen Anthony told The World Today.
Environment conservationists have raised red flags. Wind and solar energy still emerge at the top as viable solution to Australia’s energy crisis. The report strongly builds a case for the creation of a nuclear facility in a nuclear shy Australia, not as the singular answer but as an attempt to not limit energy sources. Building the apparatus for solar and wind has proven to be expensive to the economy. The increasing cost has dampened and slowed the process. Also investments so far, have come forth to fuel smaller scale projects.