The Department of the Environment and Energy ( I dunno what is is called now) released its projection of Australia's carbon emissions..
New calculations have then falling. The main reason is the renewables will have 50% of energy by 2030.
Now those who remember the election will have a problem. Did not the government say that the ALP target of renewables having 50% of energy would be far too costly? Has the government found a silver bullet?
The answers are yes and no.
The reason is that the cost of renewables has fallen dramatically. They are either below the cost of OLD coal stations or about the same. They are expected to fall further. Ross Garnaut thinks there is a good chance new solar PV will be $30 MWh by 2025!!
This has occurred DESPITE the government bot because of it. Imagine if you will how the market would react if there was a price on carbon!
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