Gas pushes Australian electricity prices higher
Gas is just as polluting as coal as an energy source which will result in the price of electricity going up in Australia, according to a new report called Pollution and Price: The Cost of Investing in Gas.
Produced by the Climate Council, the report also stated that renewable energy can be a cost-effective and secure alternative to new fossil fuels.
“Australia’s energy infrastructure is ageing, inefficient and polluting, and must be replaced over the next few decades,” the report says.
“Meanwhile, over the last 20 years, 1.6 million households have invested in solar panels for their homes, and the cost of renewable energy, particularly solar photovoltaic and wind power, has rapidly decreased.”
The report mentioned that Australia’s reliance on non-renewable energy could be incredibly harmful in the long term as it’s only a short term and expensive source of power. However, there was praise for the country’s movement into renewable energy.
A quicker renewable energy uptake paired with a smart grid and smart storage is touted to be the best possible solution to consumer prices.
In dot point form, a proposed strategy to have zero emissions by 2050 includes:
- An emissions intensity scheme
- An extended renewable energy target
- A low emissions target
- Renewable energy feed-in tariffs
- Contracts for difference
- Regulated coal closures
- Absolute emissions baselines
New gas power plants would also be more expensive with $10 billion required for gas power generation assets with about the same amount needed for gas development.