Funds, Infrastructure and the Post-Covid Economy By Peter Newman AO Professor of Sustainability Curtin University
The Agenda: Zero Carbon- Zero Poverty 1. The PARIS AGREEMENT. Net Zero Emissions by 2050, 40% by 2030 . 2. THE SUSTAINABLE DEVELOPMENT GOALS 2015-30 Zero poverty 2030 100% agreement, not sure how?
‘’There is no shortage of capital for financing the new economy for at least 5 years’ Ross Garnaut The nation’s most prophetic economist Dramatic shift towards Net Zero investment….
Transitions have emerged from economic collapse in 5 big waves of innovation… T SLIDE TITLE Schumpeter called the process ‘creative destruction’ in 1939 What is the 6 th wave? ‘ Covid, Cities and Climate’ Urban Science
The INNOVATIONS….Ready to go as a Cluster • RENEWABLES, especially solar and wind. • BATTERIES, especially Li-ion. • ELECTRIC VEHICLES, cars, transit, micro- mobility. ‘Electric everything’. • SMART CITY, especially data sensors, control systems, machine learning, blockchain. And ICT replacing travel ….
The INNOVATIONS….Not quite ready. • HYDROGEN, in fuel cells and direct use in industry for cement, steel and mineral processing. REGIONAL not CITY • CIRCULAR ECONOMY, full recycling including electronic waste, batteries and PV’s, and all plastic. • BIOFUELS or SYNTHETIC HYDROCARBONS for Shipping and Aviation
The transition is now way past ideological interventions Net additions to global power system
And they are accelerating in the Covid collapse…. Cause? Demand drops so utility uses the cheapest marginal cost. RE Fuel is free! Happening in all OECD nations
BATTERIES ARE BETTER THAN GAS 150MW in SA, less than 1 second response for peaking - gas turbine take 6 seconds!
Rooftop solar and distributed energy model Perth showing it works 33% of Perth homes 1200 MW in 8 years… Largest power station The cluster of solar- in WA batteries- EV’s -smart tech can scale up or down, its modular…hence distributed 70% by 2025 energy is the future. ‘It is inevitable…’ LOCALLY MANAGED! Minister for Energy. Manage grid with Blockchain
ELECTRIC VEHICLES EV’s substantially increased market share in COVID.. Bloomberg NEF Micromobility grew 17% in 6 months Your text here Your text here Your text here
REGIONAL ECONOMY and HYDROGEN The Conversation HYDROGEN NEEDS TO BE MADE IN REGIONAL PORT AREAS as it can process minerals and cement from regions We have: • Sunshine, • Battery minerals - Lithium Valley • Iron ore and alumina that need to be processed into metals next to where they are mined • Excess Hydrogen can be exported
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