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https://reneweconomy.com.au/australia-doesnt-have-to-choose-between-energy-affordability-and-emission-reductions/>
"Emissions reduction targets are often cast as incompatible with energy
affordability, the latest example being the Liberal Party dumping its net zero
target. IEEFA has found that this is not the case.
We reviewed all the major opportunities to improve energy affordability in
electricity and gas and found they either support – or are independent to –
Australia’s net zero ambitions.
We also found plenty of room for improvement when it comes to energy
affordability – but it is not about abandoning emissions reductions. It is
about fixing inefficient energy markets and regulation, increasing competition,
and acting on the demand side.
Australia’s coal fleet is rapidly ageing, with most plants set to retire within
the next decade. A large portion of network assets are similarly reaching
end-of-life. Replacing these assets is unavoidable – but our choice of
replacement technology has profound implications for affordability.
Renewables backed by storage and transmission are the lowest-cost form of new
electricity generation. Their cost is already on par with new coal and will be
materially cheaper by 2030. Of nearly 1,000 electricity projects in the
National Electricity Market (NEM) pipeline, 96% are renewables or storage, and
none are coal.
Keeping ageing coal plants online carries associated costs and risks – they
experience more breakdowns, leading to reliability risks and spikes in
wholesale electricity prices."
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
