AUSTRALIA | S06 E8 - The 49-year-old energy prophecy that is finally coming true
Apr 12, 2022
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Dr Alan Finkel, former Australian Chief Scientist, and other energy experts discuss the missed opportunities in Australia's transition to renewable energy. They explore topics such as the rapid shutdown of coal-fired power stations, achieving a zero emissions electricity system, the debate on Australia's net-zero emissions target, exporting solar energy, and the challenges and opportunities in Australia's transition to renewable energy.
Solar energy has emerged as a primary solution for addressing climate change and transitioning to renewable sources.
Australia possesses immense potential to become a global leader in renewable energy exports.
Deep dives
The Urgency of Climate Change
Climate change has been a pressing issue for several decades, with increasing awareness of its serious consequences. The urgency of addressing climate change was recognized around the early 2000s, but its importance was highlighted even earlier, such as in 1973 by Professor John Bockros. He confidently understood the problem and proposed solar energy as the clear solution. Although solar panels were expensive at the time, the cost has significantly reduced, making solar energy more accessible. Today, solar panels are powering millions of Australian homes, contributing to the goal of achieving net zero emissions.
The Potential of Solar Energy
Solar energy has emerged as a primary solution for addressing climate change and transitioning to renewable sources. Professor John Bockros believed that solar energy could not only power individual homes but also supply all of Australia's energy needs. His visionary proposal aligns with the current developments in solar energy. The Australian government, along with other countries, is increasingly investing in large-scale solar farms and promoting the use of solar panels. As the costs continue to decrease, solar energy is becoming the cheapest form of energy, contributing to a significant reduction in greenhouse gas emissions.
The Transition to Net Zero Emissions
Australia's journey towards achieving net zero emissions involves a multi-step approach. The first step is transitioning the electricity sector from coal-fired power stations to renewables like solar and wind. This shift is underway, with Australia already generating significant portions of its electricity from renewable sources. The second step involves electrifying the transport sector, replacing fuel-based vehicles with electric alternatives. Finally, the stationary energy sector, including heating, cooking, and industrial processes, needs to adopt electric solutions. This comprehensive transition requires a threefold increase in Australia's electricity generation capacity, providing a zero-emissions electricity system.
Australia's Renewable Energy Export Potential
Australia possesses immense potential to become a global leader in renewable energy exports. With its abundant sunlight, solar energy could be harnessed to produce hydrogen and generate enormous amounts of energy. While challenges exist, such as liquefying hydrogen for export, Australia can tap into its low-cost renewable energy resources and establish a robust manufacturing sector. By locally processing resources like iron ore and bauxite using renewable energy, Australia can create jobs, add value to its exports, and position itself as a key player in the emerging zero-emissions economy. However, this opportunity requires concerted effort and global demand for zero-emissions products.
Australia is now in a race to build enough renewable energy to replace our coal fired power stations before they close.
We’re in this situation because of a series of ignored warnings and missed opportunities over the last five decades.
Now, experts are telling us that the transition to a decarbonised economy presents a big opportunity for Australia. The question is - can we grasp it?
Guests:
Dr Alan Finkel - Commonwealth government energy advisor and former Australian Chief Scientist
Alison Reeve - Deputy Program Director of Energy and Climate at the Grattan Institute; former Commonwealth energy policy advisor; author of the National Hydrogen Plan
Dr Kerry Schott - Independent chair of the Energy Security Board
Scott Hamilton - Australia-German Energy Transition Hub & former energy policy advisor to federal and Victorian governments
Dr Ross Garnaut - Economist, Author of Superpower: Australia's Low Carbon Opportunity
Dr Marcia Langton - Foundation Chair of Australian Indigenous Studies at the University of Melbourne
Robert Hill - former Federal Environment Minister
Dr Graeme Pearman - Former Chief of Atmospheric Research, CSIRO
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