Tuesday, April 19, 2016

Australia: Report Calls for 10 GW Geothermal by 2050

New report shows 100% renewable by 2030 can save Australia money (RenewEconomy)

A new report from the Institute for Sustainable Futures in Sydney says a rapid transition to a 100 per cent renewable energy system can save Australia money – with avoided fuel costs to quickly offset the extra capital expenditure of building wind, solar and other renewable energy installations.

“The transition to a 100 per cent renewable energy system by 2050 is both technically possible and economically viable in the long term,” the report says. And by 100 per cent renewable, it means all energy use, including transport and heating.

The report canvasses two renewable energy scenarios, one based on a high level of renewable energy in the electricity grid, but with transport largely reliant on fossil fuels. The second is the Advanced Renewables scenario, which canvasses a totally renewable electricity system by 2030 and a fully renewable energy system by 2050.

Interestingly, the ‘advanced renewables” scenario includes a significant share of ocean energy and geothermal energy, which have yet to make their mark in Australia, along with solar thermal and storage and biomass, which will add to the “flexible” generation capacity that will fill the gaps between wind and solar.

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