- Jeddah Breman, Tracy Ho & Steven Thanos, Department of Civil Engineering, Clayton Campus, Monash University
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Australia’s current level of emissions produced through electricity generation contributes 37 percent of the county’s total emissions. As a result, implementing cost effective energy technologies with a low life cycle CO2e output is vital in reducing Australia’s future greenhouse gas emissions. The viability of alternative energy technologies based on cost and capacity were assessed by producing a business as usual cost abatement graph for 2030, which shows the additional cost of saving one tonne of CO2e when compared to the continued use of coal and lignite for electricity production. In relation to lignite, coal and gas with carbon capture and storage technology; coal was established to be the most viable technology with a potential capacity of 103 TWh by 2030 and an average additional cost of $30.8 per tonne of CO2e saved when compared to the base case. Wind energy was deemed to be the most viable renewable energy source with a total capacity of 26 TWh by 2030. Although the price range of wind ($5 to $58 per tonne CO2e saved), is slightly higher than other renewables including geothermal and biomass, it is expected that wind will be one of the leading renewable technologies as it is already well established in the current energy sector. Solar photovoltaic energy was established to be the least viable renewable technology due to a low capacity of 6 TWh by 2030 and a high price range of $154 to $462 per tonne of CO2e saved. However, it is expected that the high learning rates of solar PV and renewable subsidies will lower the future cost of solar. Nuclear energy, although cost effective at an average additional price of $30 per tonne of CO2e saved does not present a viable alternative source of energy by 2030. This is due to current Government policy being opposed to domestic nuclear power.