The ‘Hidden’ Real Challenges of the Energy Transition
Don’t get me wrong, I’m all for a cleaner energy future. The questions in my mind are “What will it cost?”, “What resources are required?”, “How long will it realistically take?” and, importantly, “Do the numbers all stack up?”
I recently reread a refreshingly honest piece, entitled Well-placed to pioneer a clean grid, written by Matthew Warren in the 17 August 2022 issue of the Australian Financial Review, in which he describes the ‘hidden’ real challenges we are facing if the energy source transition Australia is undertaking is to happen smoothly, without massive economic stress and enormous societal dislocation.
The goals set for this task are being driven by aspirations that have disregarded how long the transformation will realistically take and the effort and investment that will be required. As Warren writes in opening his article:
“There are two climate change worlds: the gritty reality of engineering and economics on one side, and the political theatre of ambition and marketing on the other. Function and symbolism. The power and the passion”
The transition is more complex than portrayed, with many interrelated issues. It will involve huge capital investment and long-term changes in peoples’ habits and attitudes. It will cost us a lot and will have a marked impact on our lifestyles. That’s not to say that the transition should not occur. Rather, we need to accept the challenges with a properly informed understanding of what needs to be done and what the realistic costs and time frames are.
I recommend you read Matthew Warren’s full article here.