Australia could achieve net-zero emission by 2050
POWER & RENEWABLE ENERGY

Australia could achieve net-zero emission by 2050

With abundant cheap solar and wind energy, Australia could become a carbon-neutral economy by 2050 but will require a more ambitious climate target for 2030 to achieve this target, according to a report from international climate policy experts. A path to net-zero emissions is technically and economically feasible for Australia and is in accordance with the 2016 Paris Climate Agreement. This transition could also create thousands of new employment opportunities in the renewable energy industry and secure the future of the country from economic shocks. The CAT report made use of two different models covering energy systems and climate policies to discover how the country could reach the net-zero goal by 2050.

A large number of Australia’s key trading partners like Japan and South Korea, including those who purchase most of the country’s LNG and coal exports, have decided to endorse a net-zero target by the year 2050. President-Elect Joe Biden of the United States has made cutting emissions an important objective for his administration and has mentioned that the United States will also reach the net-zero goal by 2050 and have 100% renewable electricity by 2030. Meanwhile, the world’s biggest emitter, China, seeks to achieve the net-zero goal by the year 2060.

Reaching the net-zero goal implies that a country’s greenhouse emissions from activities like using fossil fuels and mining are balanced by the uptake of carbon in forests, soils, and technologies like carbon capture and storage. In Australia, the Morrison government has pledged to keep its current targets and aims to reach the net-zero goal by the second half of this century.

However, some experts say that this objective is at odds with the Paris Agreement of 2016. According to Ursula Fuentes Hutfilter, a senior climate policy adviser at Climate Analytics and a lead author of the CAT report, the biggest missing piece for Australia is the need to have a consistent approach across the economy. According to the CAT report, Australia’s 2030 target should be raised to 66% above the levels calculated in 2005 so that the country can reach its 2050 goal.

Hutfilter stated that policies such as emission standards in the transport sector, national energy renewable target, support for electric vehicles and energy efficiency incentives in the industry were all being incorporated in other developed countries, but were absent in Australia. The CAT modelling revealed that gas, which is the source of 20% of Australia’s electricity, would drop to 3% by 2030 and be gone by 2040. Moreover, stopping deforestation would reduce reliance on other carbon trapping technologies. The report also suggests that Australia’s export-focused LNG sector would be the most difficult to decarbonise. While the current policies of Australia would create 25,600 direct jobs in the power generation sector, a shift in policies in line with the Paris Agreement of 2016 would emphasise local manufacturing and deliver 62,300 direct jobs.

With abundant cheap solar and wind energy, Australia could become a carbon-neutral economy by 2050 but will require a more ambitious climate target for 2030 to achieve this target, according to a report from international climate policy experts. A path to net-zero emissions is technically and economically feasible for Australia and is in accordance with the 2016 Paris Climate Agreement. This transition could also create thousands of new employment opportunities in the renewable energy industry and secure the future of the country from economic shocks. The CAT report made use of two different models covering energy systems and climate policies to discover how the country could reach the net-zero goal by 2050. A large number of Australia’s key trading partners like Japan and South Korea, including those who purchase most of the country’s LNG and coal exports, have decided to endorse a net-zero target by the year 2050. President-Elect Joe Biden of the United States has made cutting emissions an important objective for his administration and has mentioned that the United States will also reach the net-zero goal by 2050 and have 100% renewable electricity by 2030. Meanwhile, the world’s biggest emitter, China, seeks to achieve the net-zero goal by the year 2060. Reaching the net-zero goal implies that a country’s greenhouse emissions from activities like using fossil fuels and mining are balanced by the uptake of carbon in forests, soils, and technologies like carbon capture and storage. In Australia, the Morrison government has pledged to keep its current targets and aims to reach the net-zero goal by the second half of this century. However, some experts say that this objective is at odds with the Paris Agreement of 2016. According to Ursula Fuentes Hutfilter, a senior climate policy adviser at Climate Analytics and a lead author of the CAT report, the biggest missing piece for Australia is the need to have a consistent approach across the economy. According to the CAT report, Australia’s 2030 target should be raised to 66% above the levels calculated in 2005 so that the country can reach its 2050 goal. Hutfilter stated that policies such as emission standards in the transport sector, national energy renewable target, support for electric vehicles and energy efficiency incentives in the industry were all being incorporated in other developed countries, but were absent in Australia. The CAT modelling revealed that gas, which is the source of 20% of Australia’s electricity, would drop to 3% by 2030 and be gone by 2040. Moreover, stopping deforestation would reduce reliance on other carbon trapping technologies. The report also suggests that Australia’s export-focused LNG sector would be the most difficult to decarbonise. While the current policies of Australia would create 25,600 direct jobs in the power generation sector, a shift in policies in line with the Paris Agreement of 2016 would emphasise local manufacturing and deliver 62,300 direct jobs.

Next Story
Infrastructure Energy

Ceigall India Wins Rs 13.1 Billion Solar Power Projects In Maharashtra

Ceigall India Limited has announced that it has received a Letter of Award (LoA) from the Maharashtra State Electricity Distribution Company Limited (MSEDCL) for the development of grid-connected solar power projects in multiple districts across Maharashtra.Under the Mukhyamantri Saur Krushi Vahini Yojana 2.0, the company has been appointed as the Solar Power Developer (SPD) to construct solar photovoltaic generating stations with a combined capacity of 147 MW (AC).The project, valued at Rs 5.97 billion, will include the engineering, procurement, and construction (EPC) of the 147 MW solar plan..

Next Story
Technology

CommScope Launches Evolved SYSTIMAX Constellation Platform Globally

CommScope has announced the global launch of its evolved SYSTIMAX® Constellation® edge-based power and connectivity platform, designed for hyperconnected enterprises. The modular platform now meets global power and data transmission standards and integrates fault-managed power, hybrid power/data fibre, and Constellation Points (CPs) in a simplified star topology.   The system supports AC/DC power, converged or segmented IT/OT networks, and reduces installation requirements by over 50 per cent compared to traditional structured cabling. CPs can be deployed in ceilings, walls, or equ..

Next Story
Infrastructure Urban

Omkara ARC Acquires Rs 37.6 Billion Wind World India Debt

Omkara Asset Reconstruction Company (ARC) announced on Friday that it has acquired Rs 37.63 billion of debt belonging to bankrupt Wind World India Ltd (WWIL) with a Rs 12.25 billion bid.The Areion Group-owned ARC secured the acquisition from the National Asset Reconstruction Company Ltd (NARCL) — the state-run ‘bad bank’ — through the Swiss challenge method, according to an official statement.With this acquisition, Omkara ARC becomes the lead decision-maker in Wind World India’s ongoing Corporate Insolvency Resolution Process (CIRP), having gained an 80 per cent voting share in the C..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?