POLICY FORUM
8 July 2021
Nursing an ageing coal-powered energy engine-room and likely to face rapid falls in the price of coal exports, Australia needs a plan for energy transition, Fiona J Beck and Kylie Catchpole write.
Last month, the G7 leaders released a joint statement committing to net-zero emissions by 2050, and an “end to direct government support for unabated international thermal coal power generation by 2021.”
‘Abated’ power generation refers to when emissions are offset by carbon capture and utilisation or storage (CCUS). So far, CCUS for coal power generation has seen very little commercial success, despite substantial global investment, meaning this statement applies to the vast majority of coal power generation.
The RET is met but it s corporate demand driving renewables growth, says regulator reneweconomy.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reneweconomy.com.au Daily Mail and Mail on Sunday newspapers.
The progress made by South Australia could help the rest of the world find a faster route to a successful energy transition, according to a report from the Institute for Energy Economics and Financial Analysis (IEEFA).
1. Most - and sometimes all - annual demand can be met by wind and solar.
The South Australia state government set a 2020 target of getting 26% of the state’s energy from renewables. It smashed that goal, with renewables delivering 60% of its energy needs. In October of that year, 100% of the state’s energy came from renewable sources – just for one hour, but it marks an impressive turnaround for a region that was 100% reliant on fossil fuel as recently as 2006.
7 renewable energy lessons from South Australia europeansting.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from europeansting.com Daily Mail and Mail on Sunday newspapers.
The state government said that investment in local manufacturing of renewables and hydrogen will deliver lower-cost energy and free up gas as an industrial input for manufacturing.