Decarbonising Electricity with Security, Reliability and Lower Costs
Australian-German Climate and Energy College
Level 1, 187 Grattan St
T: (03) 8344 4124
There has been a surprising rate of reduction in the costs of solar, wind and storage for electricity. Within this context, this lecture considers the prospects of a zero carbon Australian electricity sector by 2040 and the implications for electricity prices compared with an electricity sector still heavily dependent on fossil fuels.
The Australian electricity sector has the potential to become more secure and reliable with the effective application of new technologies. In particular, Australia’s exceptional advantages in renewable energy resources facilitate a competitive advantage in energy-intensive industry that will be greater in the new low-carbon economy than in the old fossil energy economy. The lecture concludes by considering the problem and costs of policy instability in Australia.