More Myth Busting and the Case for NET ZERO - Part III

 

Myth# 9 Renewables are Bad for Business 

FACT: Some businesses are struggling with high power costs, but the reasons are complex. The structure of our electricity market, foreign ownership of gas, and the fact that we are only partway through the transition. Variability is real, yet many businesses have already adapted. Net Zero itself is not the problem—unchecked climate change is. In the long run, clean energy reduces costs, builds resilience, and strengthens economies. According to the Climate Council, business installations in Australia increased by 60% between 2016 and 2017 with some 40,000 commercial systems being installed. Below are just a few examples. 

•  Concerned about its high power bills, the Country Cob Bakery in Victoria installed solar panels on its roof and now saves $9,000+ on its energy bills. 
• Young Henry's Brewery, a well‑known craft brewery and tasting bar in Sydney’s Inner West, has also made big savings. 
• Large retail chains chains such as Officeworks and Bunnings Hardware are progressively converting all their stores to solar energy
• Restaurants, cafes and food service companies which have heavy daytime use, are doing likewise 
• 130 of the world's largest companies plan to be 100%  powered by renewables,  as are two thirds of Fortune 100 companies and around half of Fortune 500 companies and they are not doing it out of charity. Who is going to tell them they are all on the wrong track?

What is bad for business, is governments chopping and changing on policy. This creates uncertainty, makes planning difficult and undermines investment in large projects.  

Myth# 10 Renewables are Bad for the National Economy 

FACT: Renewables strengthen national economies in multiple ways:
•     Job creation — via construction, installation, maintenance, manufacturing, and research.
•     Rural development — solar and wind projects bring income and infrastructure to communities that would otherwise rely on support.
•     Energy independence — reduces reliance on imported fossil fuels, keeping wealth within national borders.
•     Lower long‑term costs — renewables are now cheaper than new fossil fuel generation.
•     Health savings — cleaner air reduces healthcare costs and productivity losses.
•     Resilience — decentralised systems (like rooftop solar and batteries) protect economies from shocks and outages.
•     Investment and GDP growth — renewables attract capital and can boost GDP by up to 10% in emerging economies.
•     Household and business benefits — reliable renewable grids lower bills and improve competitiveness.

Myth# 11 It's Cheaper to Keep going with Fossil Fuels 

FACT: Renewables do require large upfront investment - the phase we are in right now, but rebuilding coal- fired power stations is also expensive. The difference is timing. Renewable energy costs are concentrated at the start, while fossil fuels lock us into endless expenses for fuel, health impacts, and climate damage. Even grid operators don’t want to go back to coal, because the long‑term economics favour renewables. The real choice isn’t between “cheap coal” and “expensive renewables” — it’s between investing now in clean energy or paying forever for fossil fuel dependence.

 

Coal is increasingly uncompetitive against renewables, which are cheaper to build and operate. Given the rapid pace of change, new coal mines risk becoming stranded assets — projects that never deliver returns because global demand collapses before they pay back their investment.

Myth# 12 Australia doesn’t need Renewables — we have Coal, Gas and Uranium, and future technologies like Carbon Capture and Storage (CCS) will save us from Climate Change.

FACT: Australia’s coal is domestic, but rebuilding coal -fired power stations would cost far more than the roll out of renewables. Our gas is largely foreign‑owned, meaning profits flow offshore and Australians must not only compete for it against other countries, but must pay the same fluctuating prices for it on the global market as they do. Nuclear energy is poorly suited to Australia due to water scarcity and unresolved waste issues and other reasons include the 10 year minimum building time. Our transport industry and farming  are major contributors to our emissions and currently depend heavily on imported oil and diesel which are subject to price volatility and can experience supply shocks. They are also finite resources, whereas renewables are not. 

Some still hope for a techno‑miracle like carbon capture and storage, but that remains a long shot, while climate change is already here. The proven path is renewable electricity. It is cheaper in the long run, cleaner, faster to deploy, and strengthens our national economy.

Myth# 13 Australia’s efforts don’t matter because big emitters like the US and China are still using coal 

FACT: Big emitters are shifting. Fossil‑fuel goods will face penalties. Australia must act now to stay competitive.

 Even the world’s biggest emitters are transitioning. Despite rhetoric, the US has already moved past coal, with wind and solar now generating more electricity than coal and federal investment driving a long‑term shift toward Net Zero. China has installed more renewable energy in the past year than the rest of the world combined and already has the world's largest EV fleet. It's  emissions are also levelling off. It is still building coal fired power stations presumably as a hedge against supply disruptions, but also because large sections of its rural areas remain underdeveloped. Under the Paris Agreement, China has until 2040 to end its dependence on coal generation for  electricity, while OECD and wealthier countries must stop by 2030. All other nations have until 2050. China is currently ahead of schedule. 

Global trade is also changing. The European Union has begun phasing in carbon border tariffs, and other economies are considering similar measures. Goods produced with fossil fuels will soon attract penalties. By switching sooner, Australia protects its competitiveness, strengthens its economy, and plays its part in the global transition.

MYTH# 14. Australia Only produces between 1-2 % of Global Emissions. There's no point in trying to reduce them.  

FACT: The collective impact of all those 1-2% countries is greater than that of the two biggest emitters combined and they are in fact reducing theirs fast. We also have some responsibility to our Pacific neighbours and poorer countries who have contributed almost zero to global emissions but already bear most of the consequences of climate related disasters and have the least capacity to respond.  

 WHY WE CAN'T AFFORD NOT TO PRESS ON WITH NET ZERO

Apart from a noisy few, most countries are still forging ahead towards Net Zero. Although the upfront costs of renewables are real and we are now in the costliest phase of the transition, power costs in Australia should then technically start to fall, subject to the structure of our energy market. 

The costs of inaction are far greater. Climate disasters have already cost Australia billions, with the Black Summer fires alone wiping $2.8 billion from tourism and adding tens of billions in long‑term losses. Those losses are expected to keep rising by around $8 billion a year. Globally, extreme weather has cost $2 trillion in the past decade, with the UN estimating the true annual burden at over $2.3 trillion.

 

Goods produced with fossil fuels will soon attract penalties. Australia will be economically disadvantaged if it doesn't make the switch. 

Opportunity Cost 

 Lastly, with its abundant sunshine, lengthy coastline and open spaces, Australia is well placed to take advantage of new renewable technologies. Failure to act would be an opportunity lost. Just as early adoption of hydro electricity once made Tasmania a global leader with expertise it could export, renewable energy technology offers the same opportunities for innovation and leadership — rather than  Australia being remembered as a climate wrecker and a laggard. We should be training up our young people now for those future opportunities as the Ruhr did, rather than clinging to the technology of the past. 

 

Many thanks to Copilot for assistance and for the images. Sadly, it no longer does tables, so they won't be as pretty from now on and it has become much harder to save any notes.

I still have a lot of reading to do re Adaptations re Agriculture and things are getting very busy here in the lead up to Christmas, so  there might just be a few short posts over the next few weeks.