Guest essay by Eric Worrall
Our old friend Tim Flannery, whose advice helped convince the Australian Government to squander billions of dollars on useless desalination plants, claims that renewables are a “huge economic opportunity”.
IT IS being hailed as the next big boom that has the potential to revolutionise our economy.
But unless Australia ramps up its commitment, experts warn it could pass us by.
A week before world leaders are set to meet in Paris to discuss setting agreed targets on reducing carbon emissions, the Climate Council of Australia has released a report which it says shows the world is in the midst of a dramatic energy revolution.
According to the research, clean energy investment grew 43 per cent globally, while the number of renewable energy jobs
nearly doubled to 7.7 million worldwide.
Climate Council chief councillor Tim Flannery said plummeting costs of renewables and the creation of jobs meant there was a strong economic case for scaling renewable energy that wasn’t clear in 2009.
“While in the past tackling climate change has been considered a moral imperative, it is now also a huge economic opportunity as countries make very significant commitments to growing renewable energy at the same time that the costs plummet,” Professor Flannery said.
Read more: http://www.news.com.au/technology/environment/climate-change/climate-council-report-finds-clean-energy-investment-grew-by-43-per-cent-over-six-years/news-story/2c6cef52c5de1b4527d3d0cf29342ba1
If costs are “plummeting”, why do renewables need such generous government support to prosper? Could it be that renewables are still ridiculously expensive, despite any alleged price drops?
In my opinion, recent history in the renewables sector more than demonstrates that it is pretty risky investing in a business, whose profitability is wholly dependent on the fickle whims of politicians.