Queensland needs an ambitious 10 year energy plan to catch the green wave

acciona solar farm panels queensland-2

May’s Federal Election result was a clear signal that Australians want faster, smarter action on climate change.

Even in Queensland’s key gas and coal mining regions of Flynn, Capricornia, Hinkler and Dawson, swings towards the Albanese government and the Greens showed a readiness to embrace the opportunities of a zero-carbon future.

Queenslanders across the Sunshine State are aware of the huge benefits of smart action, as well as the risks of inaction.

This is well-timed for the Queensland government, as it is set to unveil its 10-year energy plan.

The plan will set out the state’s vision to capture the very significant and immediate economic and job opportunities, to ensure stable, affordable energy supply, establish Queensland as a global leader in climate solutions and set all Queenslanders up for a more prosperous future.

The right level of ambition and policy initiatives are critical to help create certainty in the investment environment. This will deliver energy security and affordability, and help Australia play a significant part in decarbonising hard to abate industrial sectors and increase our renewable exports to world markets.

Queensland’s current renewable energy target is to meet half of the state’s domestic energy needs with renewables by 2030. I believe there is a broad consensus building among government, industry, unions and training institutions on the need to go further and faster – now.

As economies of the world upgrade their energy systems and embrace renewables, the Sunshine State is perfectly positioned to be a true global leader.

It has a vast landmass, abundant wind and sunshine, viable large pumped hydro sites, around 45% of Australia’s mineral deposits, a nimble workforce with the right skills, and industrial ports with strategic proximity to Asian markets. Queensland is already a trusted trading partner with a long history of reliably supplying energy to key markets like Japan and Korea.

A new report by Accenture, commissioned by the Australian Conservation Foundation, Queensland Conservation Council and WWF-Australia, concluded that Queensland could reduce emissions by 60% below 2005 levels by 2030, and create over 87,000 jobs through a package of policies focused on making the most of Queensland’s abundant renewable energy and land assets.

We need to move quickly to seize the opportunity; to build local supply chains for the renewable energy industry, stimulate local manufacturing and deliver the right training to create local jobs – now, and not years into the future.

There is already some welcome progress, with the Queensland government’s support for new pumped hydro, which is urgently needed to address the issues with existing infrastructure, as well as its support for the accelerated build-out of renewable energy.

Further decarbonising the state’s industrial heartlands through the creation of clean industrial precincts such as the Lansdown Eco-Industrial Precinct, as well as the development of new industrial production capacity for green hydrogen and green ammonia, adds to the infrastructure and jobs pipeline, requiring new transmission lines, sub stations and new solar and wind capacity many times the size of Queensland’s existing electricity network.

Queensland has the potential to be a clean minerals processing hub, not just for the region but the world. Ark Energy – the Australian subsidiary of Korea Zinc – is an example of how Queensland’s existing refineries can be upgraded to run on renewables, rather than building new greenfield facilities.

Rio Tinto has announced major plans to decarbonise its aluminium production operations in Gladstone. Townsville, Abbot Point, Mackay and Gladstone are ideal locations for renewable hydrogen, ammonia and other e-fuels and green chemical production given their ready access to renewable energy sources, industrial ports and heritage and skilled workers.

With the right policy framework and investment, Queenslanders could be reaping even greater benefits of global scale green energy and new jobs and industries. Many new jobs would be based in regional areas, including in mining and refining of minerals like lithium, bauxite, and rare-earths which are critical for batteries and other clean energy technologies.

Stronger support for education and training such as the Gladstone STEM in Schools Program will better equip future generations of workers, provide secure career options in these regions and help realise the state’s potential.

But emissions reduction and jobs creation are not the only benefits of an ambitious energy transition. Recent pressures on the state’s highly coal- and gas-dependent energy system, and the spike in wholesale energy prices further demonstrate the importance of reducing our reliance on fossil fuels.

Renewables are increasingly the cheapest option; analysis by CSIRO has shown that new-build wind and solar can generate power today at less than $50 to $70 per megawatt-hour. This is currently the cheapest source of new-build electricity generation in Australia and is projected to continue to be the lowest cost even after the additional costs of adding energy storage and transmission to reach a grid powered by up to 90% renewables by 2030. By comparison, a new coal-fired power plant would cost around $90-$140 per megawatt-hour, or as much as $200 per megawatt-hour when carbon capture and storage is included.

Fortunately for the Sunshine State, with its rich renewable resources and abundant land, expanding and exporting renewables is a real option. If Queensland acts strongly now, it can become a dominant player in the growing renewable energy export market, secure its energy independence into the future and contribute to regional and global energy security.

An ambitious Queensland 10-year energy plan is not only good for the climate. It will grow and future-proof Queensland’s economy, boost local businesses, ensure energy becomes more affordable and create new and more secure jobs for workers today and tomorrow.

Moreover, an ambitious energy plan is more likely to deliver the action on climate change that Queenslanders are clearly anxious to see. Let’s not just win the Green State of Origin, let’s export Sunshine Green Gas to the world.

Simon Currie is principal and co-founder of Energy Estate

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