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Modelling shows move to 100% renewable energy would save Australia money
http://www.theguardian.com/environment/2016/apr/19/modelling-shows-move-to-100-renewable-energy-would-save-australia-money[font face=Serif][font size=5]Modelling shows move to 100% renewable energy would save Australia money[/font]
Michael Slezak and Nick Evershed
Monday 18 April 2016 17.09 EDT
[font size=4]Exclusive: Estimated cost of moving all electricity, industry and transport onto renewables by 2050 would be $800bn, a saving of $90bn[/font]
[font size=3]Transitioning Australia to 100% renewable energy by 2050 would cost less than continuing on the current path, according to a new report.
Building the infrastructure to supply renewable energy for all electricity, transport and industry would cost about $800bn between now and 2050, the report from the institute for sustainable futures at the University of Technology Sydney, found.
That’s about $650bn more than continuing with the status quo. But by removing the need for fossil fuels such as coal, gas and oil, it would save the economy up to $740bn, saving $90bn over the period to 2050, the report found.
Fuel cost savings would cover 110% of the capital investment needed to transition the economy.
…[/font][/font]
Michael Slezak and Nick Evershed
Monday 18 April 2016 17.09 EDT
[font size=4]Exclusive: Estimated cost of moving all electricity, industry and transport onto renewables by 2050 would be $800bn, a saving of $90bn[/font]
[font size=3]Transitioning Australia to 100% renewable energy by 2050 would cost less than continuing on the current path, according to a new report.
Building the infrastructure to supply renewable energy for all electricity, transport and industry would cost about $800bn between now and 2050, the report from the institute for sustainable futures at the University of Technology Sydney, found.
That’s about $650bn more than continuing with the status quo. But by removing the need for fossil fuels such as coal, gas and oil, it would save the economy up to $740bn, saving $90bn over the period to 2050, the report found.
Fuel cost savings would cover 110% of the capital investment needed to transition the economy.
…[/font][/font]
