THE BIGGER PICTURE POWERING UP >75% OF EFFORTS to cut emissions in the next 9 years falls to the energy sector
DEPLOYMENT OF WIND POWER needs to increase 5x on 2020 totals to >500GW pa to 2030
SOLAR PV needs to treble to 455GW pa BATTERY STORAGE needs to increase 26x to 245GWh pa ELECTRIC VEHICLES need to increase 11x to 35 million vehicles pa
SUSTAINABLE AVIATION FUELS need to comprise 18% of aircraft fuel by 2030
RECYCLING OF ALUMINIUM AND PLASTICS must double, and 18 MILLION HEAT PUMPS will be needed each year. BloombergNEF’s latest New Energy Outlook
SAGE INVESTMENT GLOBALLY, US$501 billion (A$683 billion) was invested in clean energy* in the last financial year
UP 9% over the previous year, setting a new high THE RENEWABLE ENERGY SEGMENT (predominantly wind and solar) led with US$303 billion (A$413 billion)
ACCOUNTING FOR 60% of total investment committed to global low carbon energy transition. Institute for Energy Economics and Financial Analysis (IEEFA) report ‘Global Investors Move into Renewable Infrastructure’ *Clean energy includes all zero-emissions industry investment (including renewables and grid, batteries and EV)
BAD BOOKS AUSTRALIA’S FINANCIAL SUPPORT for fossil fuels increased by 48% over the 5 years to 2019
TOTALLING A$52 BILLION this was the biggest increase in fossil fuel subsidies among G20 nations BloombergNEF Climate Policy Factbook
NO SMALL MEASURE QUEENSLAND’S $1.7 BILLION COPPERSTRING 2.0 – the new 1,100km high voltage network – will unlock a minimum $60 billion of investment over two decades $35.8bn IN UTILITY SCALE generation and storage $8.1bn TRANSMISSION network $7.7bn IN HYDROGEN generation and transmission, and
$6.0bn IN DISTRIBUTED generation, and FOR EVERY $1 INVESTED, the project would deliver $4.54 in benefits for Australia (ACIL Allen modelling)
THE GREATEST EVER EXPANSION of the NEM runs from
RISE OF ROOFTOP PV AUSTRALIA COULD HIT 4GW of rooftop PV this year, despite COVID-19 restrictions THIS FOLLOWS THE 22% GROWTH in rooftop solar in 2019, with 2.2GW installed; and
Townsville to Mt Isa and connects 106,000 sq km of “immensely productive Queensland” to the main grid.
3.3GW OF ROOFTOP PANELS during 2020 with a further
Copperstring chief Joseph O’Brien speaking at the Smart Energy Council’s Queensland Summit
4GW OF ROOFTOP SOLAR IN AUSTRALIA = 600W of solar
30% rise in volume in the first half of this year per person, per day, nationwide Smart Energy Council President Steve Blume addressing the Washington DC-based Global Solar Council
17
