Innovation Energy Summit Highlights Energy Future in Australia

The said event was held at Parliament House with approximately 400 audiences. The summit had Clean Energy Council’s (CEC) Chief Executive Kane Thornton as a keynote speaker. Some of the speakers also include Chief Scientist Alan Finkel, ARENA CEO Ivor Frischnekt, and CSIRO Research Scientist Wes Stein.
According to a report published on the website of Energy Matters, the goal of the summit was to provide opportunities for policy-makers, professionals in the clean energy sector, and the public in order to come up with new energy ideas that can be used in the future.
ARENA’s Frischnekt also highlighted that the organisation has $700 million ready to invest in new and potential renewable energy projects.
Thornton said that Australia is in the midpoint of a so-called energy revolution and that the switch to renewables is inevitable. He further remarked, “The reality is the vast majority of our coal-fired generation that we’ve relied on for much of last century is old and is getting older.”
He also added, “It is starting to close down. And just like an old car, the older they get, the more expensive they become to run and the less reliable they become. The reality is that whether we like it or not, we are going to have to replace these generators with new forms of energy generation.”
In addition, Thornton stated that the lowest-cost energy plants to establish to replace coal are solar and wind power and that the amount of generating energy via these methods are fast reducing. This is supported by policy certainty and bipartisan support for the Renewable Energy Target (RET).
The CEC Chief Executive also reiterated that the commitment of Australia to lessen emissions by at least 26-28 percent by 2030 aids in raising the momentum in the renewable energy industry.
To view the full report, click this link.

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