New investment in fossil fuel projects would have to stop immediately, it said.
Two-thirds of the world s energy would be based on wind, solar, bioenergy, geothermal and hydropower by 2050, while cars would almost all be fuelled by electricity and air travel with biofuels and synthetic fuels.
Bruce Robertson from the Institute for Energy Economics and Financial Analysis said the report signalled the end of gas. The report finds that no new gas fields are needed and neither are many of the liquefied natural gas liquefaction facilities currently under construction or in planning, he said.
Climate Council research head Simon Bradshaw said the report added to a growing body of evidence that Australia s gas-fired recovery was unnecessary and dangerous .
APA, Woodside drop WA hydrogen project
May 10, 2021 – 5.16pm
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Gas pipeline giant APA Group and partner Woodside Petroleum have ditched their proposed renewable hydrogen project in Western Australia after they failed to win government support in the latest funding round, while the successful applicants race towards development.
APA and Woodside pitched for funds from the Australian Renewable Energy Agency for a proposed project in WA’s Central West, powered by APA’s Badgingarra wind and solar farm. They are, however, understood to have already backed away from the project before the news last week of the successful bids.
The plan was to produce green hydrogen for use in power generation, transport and industrial applications, and with longer-term options to deliver it by pipeline to Perth.
Australia’s First Gas-Hydrogen Hybrid Power Station to Help Replace Coal
New South Wales has secured an $83 million (US$64 million) gas-hydrogen hybrid power station, Tallawarra B, following the planned closure of the Liddell coal-fired power plant in 2023.
The closure of Liddell was announced in 2019 and will see the exit of 1,680 MW of reliable energy from the power grid, which forced the NSW government to scramble for alternative sources of power and set a target of 1,000 MW to replace the loss in energy capacity partially.
EnergyAustralia’s Tallawarra B will contribute 316 MW of capacity to the National Electricity Market, playing a crucial role in Liddell’s replacement.
Government intervention is complicating renewable energy revolution
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Government intervention in the energy market is making the breakneck transition from fossil fuels to renewables even more challenging as investors warn that taxpayer subsidies for new gas power projects are squeezing out private industry.
The NSW government on Tuesday announced $78 million to support Energy Australia building the first hydrogen-ready gas power plant at its Tallawarra site on Lake Illawarra, with the Morrison government tipping in $5 million.
The Tallawarra B plant will lie next to EnergyAustralia’s existing power station in NSW.
The market can generate a power supply fix without state involvement
Energy Australiaâs Tallawara B gas plant proves the private sector can deliver cost-effective, low-emissions electricity, and why the government should step back from big stick interventions.
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EnergyAustralia on Tuesday announced it will build a 316-megawatt, open-cycle gas turbine â gas peaking plant â in the Illawarra region of NSW.
This decision is an all-round win for industry, governments and consumers â an unusual outcome in a sector more often beset by uncertainty and animosity.
The Tallawarra B plant will lie next to EnergyAustraliaâs existing power station in NSW.Â