Australia can meet carbon emissions target at zero net cost

As Australia grapples with the challenge of securing its energy supply into the future, our study shows that we can make the switch to affordable and reliable clean power. A new study by ANU has found Australia can easily meet its 2030 carbon emissions target by replacing coal-fired power stations with renewables at zero net cost. At the global climate talks in Paris two years ago, Australia pledged to reduce emissions by 26-28 per cent on 2005 levels by 2030. Lead researcher Professor Andrew Blakers said the net cost to meet this target with renewables was zero because the cost of electricity from new-build wind and solar power generators was below the cost of electricity from new-build fossil fuel generators. "The cost of renewables includes stabilising the electricity grid with energy storage and stronger interstate powerlines to ensure that the grid continues to be reliable," said Professor Blakers from the ANU Research School of Engineering. "As Australia grapples with the challenge of securing its energy supply into the future, our study shows that we can make the switch to affordable and reliable clean power." Co-researcher Dr Matthew Stocks said Australia was installing about three Gigawatts per year of wind and solar photovoltaics. "This rate is sufficient, if continued until 2030, for renewable energy to meet more than half of Australia's electricity consumption needs and Australia's entire Paris greenhouse emissions reduction target," said Dr Stocks, a research fellow at the ANU Research School of Engineering.