THE POWERKIT M SERIES

COMPACT AND MORE POWERFUL, THE M SERIES ENGINES DELIVER RELIABLE HIGH POWER FOR PRIME AND CRITICAL APPLICATIONS.

The newest, most comprehensive powergen range on the market.

ISSUE #248

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© Worldwide Independent Power (ISSN 1468 7100)

Australia’s economy is decarbonising, and the science and economics of climate change mean that it is inevitable that this will continue. The country’s collective challenge now is to accelerate this, while reducing cost and disruption through coordination, innovation, and clear market settings.

With $76 billion of investment. pledged Australia’s abundant renewable energy resources mean the nation is well placed to become a clean energy superpower. The Government’s comprehensive set of policies include:

*$20 billion investment in Australia’s electricity grid to accelerate the decarbonisation of the grid.

*An additional $300 million to deliver community batteries and solar banks across Australia.

*Up to $3 billion investment of from the new National Reconstruction Fund to support renewables manufacturing and low emissions technologies.

*Powering the Regions Fund to support the development of new clean energy industries and the decarbonisation priorities of existing industry.

A Deloitte Report suggests if Australia acts with the world to limit warming and reach net-zero by 2050 then the economy could actually gain $680 billion by 2070. Media reports suggest that Australia’s carbon emissions edged lower in 2022 with reductions from the electricity sector, partly countered by increases in pollution from transport and agriculture.

The country’s emissions last year totalled around 463.9m tonnes of carbon dioxide-equivalent (Mt CO2-e), down 0.4% or 2m tonnes from the previous year. Preliminary estimates for the year to 31st March 2023 indicated emissions totalled 464Mt CO2-e, or 0.2% lower on a rolling 12-month tally, the national greenhouse gas inventory shows.

Between June 2005 and the end of 2022, carbon pollution dropped 24.7%, or slightly more than half the Albanese government’s 43% emissions reduction target by 2030.

Australia’s total budget under the Paris climate agreement is 4.353bn tonnes of CO2-e, and so far it has burned through 27% of the total in 25% of the accord’s time period.

The reduction in emissions in the power sector is apparent , with a limited number of polluting sites closely monitored by regulators. Emissions from the power sector industry have fallen 21.4% or 42.1Mt CO2-e since June 2005, although the sector continues to account for about a third of recorded pollution. Falling emissions from stationary energy, such as that used in manufacturing and gas heating in homes, all retreated in 2022, easing back 1.5% or 1.6Mt CO2-e which is great news for Australia’s efforts so far.

AIDAN TURNBULL Managing Editor