A net-zero Australia will require up to $9 trillion (US$6 trillion) of capital to be spent on energy, industrial and export infrastructure by 2060, researchers say.
Decarbonisation is tipped to provide 700,000 direct jobs, mainly in regional and rural areas, according to independent modelling released on Wednesday.
New export industries would be mainly in northern Australia, close to export markets, with significant production in the south but access to land and water could be controversial.
Replacing coal generators – and tripling power capacity by 2030 – requires a more rapid rollout of wind and solar farms, transmission infrastructure and energy storage, and a greater uptake of electric cars and heat pumps, the research by Net Zero Australia found….