Australian Prime Minister Anthony Albanese will accelerate his government’s low emissions policies after The Voice referendum.
His comments follow his visit to Adelaide, where he announced the federal government’s support for the development of South Australia’s first large-scale hydrogen export terminal, which forms part of the federal government’s $2 billion Hydrogen Headstart Program.
“If we do that, we can secure jobs, secure our prosperity, and secure Australia’s future.”
There is speculation Labor would look at modelling the Biden administration’s Inflation Reduction Act—a package of policies and incentives targeting $520 billion (US$369 billion) worth of clean energy initiatives.
An analysis worth $5.6 million from the May budget was allocated to identify “the implications for Australia of intensifying global competition for clean energy.”
Additional “actions” by the end of 2023 were flagged and would “further catalyse clean energy industries, ensure Australian manufacturing competitiveness, and attract capital investment.”
Inflation Reduction Act Developed in Response to the Pandemic: Albanese
Mr. Albanese said the Biden Administration developed the Inflation Reduction Act in response to the pandemic.“It’s a response to say that nation-states need to be more resilient—they need to be able to make more things and need to be able to stand on their own feet,” he said, reported The Guardian.
“We are vulnerable if we just rely on trade that can be disrupted whether through a pandemic or through international conflict or a cybersecurity event. I am very conscious about how all this fits together.”
“The brightest talent and biggest brains will always gravitate to the best opportunities. In renewable energy, Australia has the potential to lead the world, but the race to realise and capitalise on the opportunities is on and the U.S. government has made its intent clear,” Mr. Carroll said.
“The Global Energy Talent Index highlights that Australia’s position as a destination for renewable energy talent lags behind Europe and North America.”
In spite of that, Mr. Albanese spoke of his ambitions for his net zero policies.
“So my vision is a clean energy economy using the advantages that we have, the best solar resources in the world, one of the best wind resources in the world, using the resources we have under the ground—copper, lithium, vanadium, nickel—all of these critical minerals and rare earths that will be to this century what fossil fuels were in the past.
$100 Billion Per Year, 1 Million Workers Needed to Reach Net Zero
Modelling by Net Zero Australia—a partnership between the University of Melbourne, the University of Queensland, Princeton University, and global consultancy Nous Group—estimates that the Australian government will need to invest over $100 billion and need over 1 million skilled workers to successfully reach net-zero by 2050.The modelling also noted a substantial increase in battery storage and gas-fired power plants were needed for backup electricity generation when solar and wind are not available.
Robin Batterham, chair of the Net Zero Australia Steering Committee, said the group was hoping to provide insight into how the country could decarbonise.
“Our findings show there are no two ways about it—to meet net zero by 2050, Australia must transform. Major and long-term investment is required in new renewable generation, electricity transmission, hydrogen supply chains, and more. New skills and training are needed to capitalise on Australia’s clean energy potential,” he said in a statement.
On Sept. 25, the Albanese government announced $41 million in extra funding to train workers in high-priority areas, such as low-carbon transition, the care economy, and artificial intelligence.
