Australia’s north would be transformed by five or six “Tasmania-sized” solar arrays and huge hydrogen hubs, according to a landmark report.
“A large capital investment is required, but the cost of energy services need not increase as a share of our economy”.
“Net zero is therefore both an immense challenge and a once-in-a-generation, globally significant and nation-building opportunity.”The Net Zero Australia report adopts methodology used in Princeton University’s 2021 Net Zero America project, and explores how renewables will produce almost all domestic energy by 2050, alongside carbon capture and storage and an energy export industry.
Across most of the modelled versions of the future, capital investment to fund decarbonisation of Australia’s domestic needs will be at least 50 per cent greater than what would happen if the country remained on fossil fuels. Supporting that growth will require between 1 million and 1.2 million workers, the great majority of whom will be across northern Australia, helping support several million more residents.
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