As renewables become cheaper than gas, electrification is Australian manufacturing’s clear competitive advantage, according to Beyond Zero Emissions (BZE).
“Research from Beyond Zero Emissions (BZE) shows that electrification powered by renewable energy and storage can make Australian manufacturing more competitive, through reduced input costs and higher efficiency and productivity,” Eytan Lenko, Beyond Zero Emissions CEO said.
“Boosting Australian manufacturing as part of our economic recovery is the right idea. Gas is the wrong technology to do it,” he said.
“Our upcoming report shows that over 200,000 jobs can be created by expanding manufacturing in Australia, but only if we play to our strength and make use of electrical processes.
“Electrical technologies are efficient, clean, scalable and precisely controllable by software. They can be powered by on-site renewables or through the local grid.
“Our energy and manufacturing sectors are already going through this transition, a transition that’s well advanced.
“The world will decarbonise and the pace of announcements is accelerating. In response to COVID-19 we have already seen decarbonisation front and centre of economic plans from New Zealand, South Korea, Spain and India.
“Pushing against the trend to transition to renewable led electrification will merely waste money by producing short term, unsustainable employment that will forever be reliant on public subsidy.
“Australia should not bet against this trend as fossil fuel infrastructure becomes a precarious public investment in this environment.
“Countries that use economic recovery to leap ahead into a renewable powered future will have a strong and sustainable recovery,” he said.
Electrification of industry, renewable energy and efficiency upgrades will create millions of jobs through every sector of our economy, mostly through private investment.
“One-off gas pipelines do not come close to providing the scale of employment we are going to require.” he said.
Beyond Zero Emissions is one of Australia’s most respected and awarded energy think-tanks. Our upcoming Million Jobs Plan will show how the Australian economy can thrive through a clean COVID-19 recovery program.