Andrew Blakers, Australian National University; Bin Lu, Australian National University et Matthew Stocks, Australian National University
New modelling suggests that Australia could use renewable energy to hit its 2030 emissions reduction targets, without it costing any more overall than maintaining the status quo.
A recent report claims that Australia’s energy can reliably come from 50% renewable sources by 2030. But arguing over renewable levels distracts from a paucity of policy.
The new policy will put the onus on electricity retailers to cut emissions while guaranteeing reliability. And while the scheme isn’t perfect, it offers a rare opportunity for bipartisanship.
We have learned a lot in the year since South Australia’s lights went out, and have made some useful early reforms. But the energy sector and politicians need to chart a much steadier course in future.
A panel of leading economists has given its majority verdict on Alan Finkel’s proposed Clean Energy Target: it may not be the best possible emissions policy, but we should get on with it anyway.
The government’s deal with electricity retailers to provide simple information to customers about their discounts and bills is a welcome step, but doesn’t cut to the heart of the power price issue.
Proposals for the government to commission more “baseload” electricity generation will raise private sector concerns over Canberra’s growing willingness to intervene in a previously free market.
A Clean Energy Target and a swathe of measures to improve the security and reliability of the electricity grid are among the recommendations of the keenly awaited Finkel Review.
The Finkel Review looks likely to recommend a “low emissions target”, which would award credits to cleaner energy sources, much like the current Renewable Energy Target.
Better energy management could reduce peak demand by the equivalent of two Hazelwood power stations. It’s time to get serious about demand response solutions to our energy crisis.
The energy security crisis has politicians leaping to unveil various schemes. But we don’t need piecemeal action – the Finkel review, due in June, aims to create a coherent new energy blueprint.
Despite its name, the National Electricity Market doesn’t reach WA. But those charged with guiding the eastern states’ energy transition should look west once in a while.