The word ‘productivity’ gets thrown around quite a bit by policymakers and economists, but is it really that important to our everyday lives? In this introductory piece in a series about energy and productivity, Research Analyst Oliver Forsyth explores how productivity relates to measures of welfare and economic performance.
What is the "Energy Trilemma"? The Energy Trilemma presents three interconnected goals that have proven exceedingly difficult to address individually. Recent history has shown that unilateral actions taken to address one dimension of the trilemma often results in undesirable reactions on the other dimensions. Hence it is currently not practical to simultaneously install new low carbon generation, ensure affordable energy for consumers, and guarantee that there will be security of electricity supply accounting for future demand.
Australian innovator Faraday Grid announced today in Paris as finalist in global Energy Productivity Innovation Challenge (EPIC) 2016. The COP21 meeting in 2015 in Paris marked a significant commitment to set global goals for energy efficiency targets. It was also the venue for the launch of the EPIC program. CEO Andrew Scobie, Director of R&D Matthew Williams, and CMO Jacqui Porch were in Paris at the IEA Conference for the awards announcement on the 13th of October.
The intention of policy makers to reduce greenhouse emissions is a story of incentives. It’s always a story of incentives - the question is, incentives for whom and at what cost? Incentives and waste; cost and benefits, can be seen as determining the productivity of public choice. As in all human endeavors means need to be fit to ends. So the institutions and infrastructure of the energy sector need to be enabled to deliver a low carbon future.