As sectors like transport transition to becoming more electrified, increased energy supply challenges will start to emerge. Managing this electricity demand is crucial for the long term transition to net-zero emissions. For heavy industry, reduced energy use – as part of a broader shift away from fossil fuels – will reduce business costs and increase competitiveness.
The Conversation recently contributed to a report by the Australian Industry Energy Transition Initative called ‘Setting up industrial regions for net zero’ - a guide to decarbonisation opportunities in regional Australia.
Some key points from this report below -
Industry is taking real steps forward on the development and deployment of emissions reduction technologies and investing in projects to decarbonise operations in the regions they operate in.
Investment is accelerating momentum. It is no longer an option to wait and see what happens next – action is urgently needed now or we risk falling behind other nations.
The role of industry cannot be underestimated. Industry’s early uptake and effective integration of renewable electricity, electrification and clean hydrogen will shape our future energy systems and enable access to future markets.
No doubt that the changes needed will be tough and there will be significant short-term challenges to navigate of existing operations and associated infrastructure.
‘The report highlights a coordinated transition could lead to wider benefits such as thousands of new jobs and cuts to greenhouse gas emissions.’
As we observe this transition in sectors like industry and transport, the Australian Energy Market Operator will be faced with the challenge of integrating renewable energy generation and storage, and a greater use demand management in the next Integrated System Plan for the National Electricity Market.
To read the full report by The Australian Industry Energy Transitions Initiative click on the link below.