Energy policy comes full circle. The Prime Minister revealed gas as the transition fuel to a renewable future in January 2020.
In September, the Government pre-empted the significant investment they are making in the upcoming Federal Budget – not only to create a new energy future for the country, but to encourage innovation and create jobs of the future.
With a recession and tectonic shifts in consumer demand and employment opportunities, it’s become even more imperative that we embrace a new way forward.
The Government states they are technology agnostic and that they will not hinge their hopes on one kind of energy generation for the future. Having said this, hydrogen has presented itself as a major opportunity for Australia – both as a domestic energy source as well as an exportable commodity.
The technology roadmap has highlighted short, medium and long-term goals on our transition away from coal. To combat the irregularity of weather-dependent energy generation, there is a clear focus on storage. Batteries aren’t yet economical, however there are lessons that can be learnt from the pumped hydro facility in South Australia to support greater storage capabilities.
Pleasingly, there is an investment in the “poles and wires” infrastructure that carries our power. Much of it is ageing and not designed to carry fluctuating energy loads which we can come to expect from renewable sources.
Net-zero emissions by 2050 are absolutely achievable under the technology road map set to be released this week, Scott Morrison says, but the government will not firmly commit to the target. It’s expected the roadmap will support 130,000 jobs by 2030 and avoid 250 million tonnes of emissions in Australia by 2040.
