A Return Journey Into the Rabbit Hole

The Australian energy minister’s transition policies are akin to the novels of Lewis Carroll’s Alice: the harder Chris Bowen pushes his policies, the further he moves from his goal. His newer and improved Capacity Investment Scheme (CIS) expanded his original scheme, though the results and details still seem shrouded in mystery. Currently, Australia generates 88,208 GWh and needs an additional 135,869 GWh to meet the goal of 82% renewable energy by 2030. When the sun doesn’t shine or the wind doesn’t blow, uninterruptible energy supplies must be available, complicating the use of 9 GW of batteries, as 9 GW cannot back up 23 GW of variable wind and solar energy. Bowen’s plan implies that 26.7 GW of coal-fired power capacity can be replaced while keeping the same production levels, though it fails to address the issue that “investment levels so far this year are 50 percent below the rolling 12-month quarterly average of 699 MW and are a long way off the pace necessary for Australia to achieve an 82 per cent renewable energy share by 2030.” Bowen’s plan may inadvertently involve taxpayer subsidies, and there is uncertainty about the scheme’s cost and effectiveness. While Mr. Bowen criticizes nuclear energy, it could be a better alternative to reliance on renewables.



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