The technology is here, now we need the political will
Transitioning to a zero carbon future in Australia is achievable and economically feasible using the technology of today. The Stationary Energy Plan demonstrates that converting Australia’s energy sector to 100% renewable sources by 2020 is achievable using commercially available technology. Wind, solar, hydro and biomass resources can be combined with energy efficiency measures to adequately meet Australia’s projected future energy demand.
In 2010, we estimate the strategic investment of $37 billion per year required to transition Australia’s stationary energy sector to renewable sources, is equivalent to a stimulus of just 3% of GDP over 10 years. In the long term, however, the lower fuel costs of renewable energy recoup the upfront investments. Achieving the ten-year transition is well within Australia’s existing industrial capacity.
Adoption of this plan promises health benefits, long-term energy security, and significant economic benefits. Australia is ready for a zero carbon future. The challenge now lies firmly in the hands of decision-makers, who must put in place strong future-oriented policies that will allow this transition to occur.
This report was produced in collaboration with University of Melbourne – Energy Research Institute.
