Australia could source 85 per cent of its power from clean energy sources by 2050 according to modelling contained in the government's energy white paper.
But the transformation from coal dependency to a clean energy future would require more than $200 billion investment in new power plants, including $100 billion in renewable sources of powers and $50 billion to $60 billion in gas, it says. The paper also makes it clear that fossil fuels will continue to underpin Australia's energy security "for many years to come".
Read more: http://www.brisbanetimes.com.au/opinion/political-news/push-to-transform-energy-sources-20121107-28yp7.html
There is good news and bad news about the clean energy transition. The good news is that half the new electric generating capacity installed worldwide in 2008-2010 was renewable. The bad news is that half wasn’t.
To avoid rapid global warming and its attendant human and economic risks, we need to accelerate the transition. We need to do more than slower growth in the use of fossil fuels: we need to cut their use substantially. This will require significantly ramped up investments worldwide in energy efficiency and clean energy.