Nuclear power has by no means been a part of Australia’s power combine because it has ample renewables, based on Australia’s minister for local weather change and power.
“I am not right here to inform different nations what to do. Nuclear performs a job in numerous nations’ combine, however in Australia, it by no means has,” Chris Bowen advised CNBC on the sidelines of the G20 power ministers assembly in Goa, India.
“Wherever you look, there’s points from our standpoint with nuclear power,” he mentioned, outlining issues that may come from adopting nuclear power.
Other than being extraordinarily costly, it generates massive quantities of waste and is an rigid power supply, he advised CNBC’s Sri Jegarajah on Saturday.
Moreover, Australia shall be ranging from “worse than scratch” because it by no means had a nuclear business within the first place, he mentioned.
Liddell Energy Station, considered one of Australia’s oldest coal-fired energy vegetation, was shut down on 28 April, 2023, after 52 years in operation.
Roni Bintang | Getty Pictures Information | Getty Pictures
Australia can also be on its option to decreasing reliance on coal and growing its dependence on gasoline as a substitute.
“Gasoline performs an necessary position in firming the grid as coal fired energy leaves the grid … We’ve damaging costs lots through the day in Australia, and but coal fired energy stations are churning away,” he mentioned, highlighting that gasoline fired energy stations are extra versatile and could be turned on and off.
The nation shut down considered one of its oldest coal vegetation in April, and shall be halting operations of one other in 2025.
“They don’t seem to be going to get replaced with coal fired energy, it is simply not going to occur,” Bowen mentioned. “It is not financial, it isn’t sooner or later and the emissions are dangerous.”
Renewable power is the way in which to go
To maintain the lights on, Australia must “double down” on its investments in renewable power, storage and transmission, the Australian minister mentioned.
“We’ve such ample renewables … Vladimir Putin cannot flip off the solar or the wind, [but] he can flip off the gasoline pipeline,” Bowen mentioned referring to the Russian president, who has minimize off gasoline provides to Europe in retaliation towards Western sanctions imposed because of the unprovoked warfare in Ukraine.
“For these nations which can be blessed with ample renewables, harnessing these renewables, growing their share of our power combine, after which exporting as a lot as doable in the end, is significant for nationwide safety as properly.”
Australia’s renewable power sector has made regular enhancements in the previous couple of years.
Renewable power accounted for 35.9% of the nation’s whole electrical era in 2022, greater than double from what it was in 2017 at 16.9%, based on a report by the nation’s Clear Vitality Council.
A better push towards renewables has diminished coal demand. Share of coal era fell from 59.1% in 2021 to 54.6% in 2022, however gasoline manufacturing elevated by 1.2% in 2022 in comparison with the yr earlier than, the report mentioned.
Wind generators seen on hills surrounding Lake George, situated close to the Australian capital metropolis of Canberra on Might 30, 2023.
David Grey | Getty Pictures Information | Getty Pictures
Bowen mentioned Australia wants extra investments with a purpose to attain its net-zero targets, and this may be finished if every sector is checked out individually.
“Sector by sector plans are necessary for Australia as a result of every sector is so totally different,” he mentioned. “We’d like the … authorities’s view of how this decarbonization is prone to occur, so we all know the place to focus our investments.”
He mentioned what the federal government can do is proscribed, and investments from Australian companies are very a lot wanted.
“I have been struck by the extent of help and engagement from Australian companies — huge and small, and from worldwide traders.”
Requested what Australia goals to carry to the desk on the COP28 local weather summit in Dubai in November, Bowen mentioned “this COP must be a step ahead on the earth’s ambitions.”
“We have got a variety of work to do. And we’ll be on the desk participating with nations of goodwill to attempt to get the very best consequence,” he added.
