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Cheap solar and wind can re-boot Australia’s economic advantage

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Australia’s abundant wind and solar resources will deliver cost reductions in electricity of up to 30 per cent, lead to the electrification of much of transport, building and industrial use, and re-position Australia as major manufacturing centre with low cost and this time low carbon power.

This is the assessment of global advisory group McKinsey and Co, presenting at the Australian Energy Week conference in Melbourne, who note that the “all-in” cost of wind and solar in Australia – including firming, transmission and flexibility – is already cheaper than gas, and by 2030 the…

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