12 April 2021
The Grattan Institute says a 100 per cent renewably-powered electricity grid is currently an unviable target because of what it calls the “winter problem” – the period in winter when demand is high and renewables supply is low – arguing policymakers should instead set their sights on 90 per cent renewables by 2040.
The remaining 10 per cent should come from gas peaking plants, the think tank argues in a new report, with the resulting CO2 emissions – amounting to around 10 million tonnes a year – offset through carbon sequestration technology. The result would be a National Energy Market (NEM) that was “net zero” rather than “absolute zero”.
Australian carbon prices tipped to double by 2030
Apr 7, 2021 – 12.00am
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Prices for Australian carbon credits have surged more than 10 per cent since January and may more than double by the end of the decade as companies leave the federal government in their wake and implement net zero emissions targets.
An expected ramp-up of Canberra’s ambitions towards net zero, potentially as early as this month at US President Joe Biden’s leaders summit on climate, would only add extra momentum, according to Hugh Grossman, executive director at carbon consultancy RepuTex.
Analysis to be released by RepuTex on Wednesday finds prices reached $18.40 per tonne of CO2 at the end of March, up 11 per cent since January 1 including a jump in February when Prime Minister Scott Morrison endorsed net zero “preferably by 2050”. Prices could increase to between $20 and $45 a tonne by 2030, it said.
A better pathway for tackling emissions from agriculture may lie in developing a true partnership between farmers, the government and third party investors for the benefit of all.
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