Technological innovation will drive change in Australia’s energy system
Our analysis from 2017 estimated it would cost Australia a trillion dollars to convert to renewables. Our current estimate is $500 billion. A large part of this is because of recent technological innovation.
Australia’s energy system is undergoing a major transition.
The four key components of the energy system – electricity, industry, transport and exports – are all evolving, in some cases even more rapidly than expected.
It’s an exciting time, driven by a range of different factors that include new technologies, changing consumer preferences, and national and global efforts to reduce greenhouse gas emissions.
Understandably, many people have a lot of questions about what our changing energy system means for them – and Paul Graham, CSIRO’s Chief Energy Economist, is the man who can help answer them.