Post: Australia needs to accelerate clean energy transition

Australia needs to accelerate clean energy transition

Australia is taking positive steps to increase its climate and clean energy ambitions. But a review by the International Energy Agency (IEA), has said stronger efforts are needed to improve energy efficiency and increase clean energy investment to achieve the goal of net zero emissions by 2050.

In its latest review, published on 19 April, the IEA recommends a whole-of-government approach to reduce the country’s high reliance on fossil fuels, an updated net zero emissions reduction plan for 2050, and the creation of a national energy and climate information system to track progress.

The review notes that greater energy efficiency efforts in transport and residential buildings can help bring forward Australia’s peak in emissions and mitigate rising energy bills. It estimates that a 60% productivity improvement is needed for a net zero-aligned trajectory and highlights the importance of the new National Building Code and Electric Vehicle Strategy.

While Australia’s renewables deployment is positive thanks to rooftop solar and ambitious targets, the review recommends greater efforts to decarbonise the power sector, including an accelerated implementation of renewable energy zones, faster permitting of grid-related projects, and additional coal retirements.

Additionally, the review suggests that Australia needs to improve the resilience of its energy sector in the face of frequent and extreme weather events and calls for a comprehensive assessment of climate change impacts on the energy sector.