A system built on renewables will lead to lower power prices compared with nuclear. It would take an astonishing leap of faith to suggest otherwise.
Achieving net zero by 2050 is non-negotiable. Australia and our global partners have agreed to targets that limit warming and maximise the chance to avoid the worst impacts of climate change, such as more natural disasters, rising sea levels, and species and habitat loss.
It’s the biggest abatement opportunity available in the short term and the most cost-effective form of new energy generation needed to underpin progress on decarbonisation across the rest of the economy. And the race to pull forward investment in renewable energy generation is on because the owners of existing coal-fired power stations have begun to close them.
Assuming there will be far less demand for electricity means assuming far fewer Australians take up EVs or electrify their homes. It means assuming fewer industrial and manufacturing businesses switch to efficient, electric production processes.
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