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Australia: 100 Percent Renewable Energy Could Be Cost-Effective by 2030

Australia: 100 Percent Renewable Energy Could Be Cost-Effective by 2030 | Sustainable Energy | Scoop.it

The study concluded that at a 5 percent discount rate, 100 percent renewables become cost-effective between 2030 and 2034, with a CO2 price of $50 to $60 in Australian dollars (U.S. dollars are roughlyequivalent). At a 10 percent rate, its between 2035 and 2045 with a CO2 price of $70 to $100.

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Government admits renewables are becoming cheap

The cost of electricity generation remains the subject of debate. For assets with a very long lifetime, such as electricity generation plants, there are many variables that need to be assessed. In particular, assumptions about the cost of capital, inflation, fuel costs (in case of non-renewable plants), maintenance costs, carbon costs, etc. over a 30 year time-horizon can result in variations of almost an order of magnitude. In this context, the attached article makes a few firm conclusions which it probably shouldn't:

 

"The Australian Energy Technology Assessment (AETA), a little-publicized report about energy costs released on Tuesday by the Bureau of Resources and Energy Economics (BREE), dropped a bombshell. This government body admits the government’s prior estimates on renewable energy costs have been spectacularly wrong. In contrast to the Draft Energy White Paper, which assumed renewable energy technologies would remain more expensive than fossil fuels for decades, the new projections say wind and solar PV will be the cheapest energy technologies within 10-20 years."

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Solar projects held back by risk worries in Australia

Solar projects held back by risk worries in Australia | Sustainable Energy | Scoop.it

Lack of confidence is impeding development of enough big-scale solar power to provide a lot of Australia's electricity generation and the federal government needs to do more to show the technology is financially viable, the Australian Solar Institute says.A report commissioned by the institute - released today - found that concentrated solar power (CSP) technology, which uses mirrors or lenses to obtain heat energy from the sun to produce power, can contribute up to 15 gigawatts of capacity with only "modest" investment in transmission.

But governments and the solar sector needed to demonstrate that risks could be overcome, said Mark Twidell, executive director of the institute.


Via Pol Bacquet
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Australia Could be Powered by 100% Renewable Energy Within 10 Years

Australia Could be Powered by 100% Renewable Energy Within 10 Years | Sustainable Energy | Scoop.it

It’s perhaps a bit surprising that Australia—with its sunny self-presentation—is not only the world’s largest exporter of coal, but at 28 billion tonnes of CO2 per year creates the highest per capita greenhouse gas emissions in the world. In tandem with this, the country also has immense potential for generating renewable energy; it really is quite sunny, with large areas of open land and surrounded by water. So much so, claims a report by the University of Melbourne and the collaborative Zero Carbon Australia Project, that the country could be powered by solar and wind energy alone within 10 years—if the political will existed.

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Does energy efficiency reduce emissions and peak demand?

Does energy efficiency reduce emissions and peak demand? | Sustainable Energy | Scoop.it
This post summarises the findings of a paper just published in the peer-reviewed journal Sustainability by Graham Palmer, entitled “Does energy efficiency reduce emissions and peak demand? A case study of 50 years of space heating in Melbourne“.
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