Technology choices: no quick fixes,no easy choices
Event | 15 February 2012 |
SYDNEY event - In early February, Grattan Institute will release the first of a two-part report on the technology choices that will frame Australia's energy future. The report explores in detail the seven technologies that might enable Australia to achieve the targets set out in the Federal Government's Clean Energy Legislation for reducing greenhouse gas emissions.
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The Right Way to Value Solar
Publication | 21 December 2011 | Helen Morrow
Now is the time to resolve confusion about the value of solar power, "grid parity" and the role of support mechanisms for solar PV. How do we decide what solar PV is worth? What does this mean for feed-in tariffs and the concept of grid parity?
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The Future of Gas Power
Publication | 15 December 2011 | Tony Wood
The past few years have seen the rapid expansion of the coal seam and shale gas industry. Combine this expansion with the recent introduction of a price on carbon here in Australia, and you end up with a bunch of intriguing questions.
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The Future of Solar Power in Australia
Event | 16 November 2011 |
Ultimately, all our power comes from the sun, but converting solar radiation to electricity directly using photovoltaics, or less directly through solar thermal power is still relatively expensive compared with the processes that convert the solar energy stored in coal and natural gas into electricity. But the cost is rapidly dropping. What are the prospects for photovoltaics and solar thermal? At what point do they become competitive and what might be the implications for the broader energy generation system?
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International carbon markets: what are the implications for Australia?
Publication | 19 October 2011 | Tony Wood
Don't be misled by the local debate: Australia is not going it alone in establishing a carbon market. From the European Union to parts of the United States, China, Japan, South Korea and New Zealand, emissions trading schemes are either underway or planned. The reason is not surprising: these markets work. Australia's carbon trading scheme would do well to link to them.
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Pricing carbon - the money and the myths
Publication | 12 October 2011 | Tony Wood
The hardest task in climate change is designing effective policy to address it. The forces for change are so weak and the headwinds so strong that there is simply no correlation between the challenge and what is being put into place. Market mechanisms remain the most effective means of meeting the challenge. The biggest risk in the market mechanism is that governments will listen to vested interests and fail to set emissions constraints that ensure their targets are met.
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The Future of Transport in Australia
Event | 25 October 2011 | Various
This seminar looked at how Australians might get around in the low carbon cities of the future. Experts in research, policy and industry will explore the technologies that could be used to decarbonise the transport system and the realities of the challenges associated with bringing these online.
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A Predictable and Flexible Carbon Price?
Publication | 2 September 2011 | Helen Morrow
There is inherent tension in emissions reduction policies: the desire for both freedom and predictability. Australia's proposed carbon pricing mechanism balances these competing objectives, giving a predictable framework for a flexible response - despite broader political tumult and uncertainty.
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Pricing Carbon - the Money and the Myths
Publication | 1 September 2011 | Tony Wood
The public debate is crowded with well-worn myths. But how does the proposed carbon pricing system actually work, and what happens next? What are the impacts for consumers and small businesses and what does all this mean for electricity?
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Pain of Carbon Protectionism
Publication | 31 August 2011 | Tony Wood and Tristan Edis
Claims for carbon price assistance signal a new era of protectionism. The federal government's climate change plan grants generous financial assistance to industries that claim the introduction of a price on carbon will hurt their business when they have to compete with overseas rivals that don't face the same cost.
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Economics of Pricing Carbon
Publication | 30 August 2011 | Tony Wood
There is an economic case for acting now as Australia is likely to be impacted more than most regions of the world, and Victoria more than most regions of Australia. The longer we wait, the more expensive it gets as emissions accumlate in the atmosphere.
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New Protectionism Under Carbon Pricing
Publication | 30 August 2011 | Tony Wood and Tristan Edis
The Government's unduly generous assistance to industry under its carbon emissions package may create a new protectionism. The whole community will pay for unjustified subsidies to the LNG and coal industries.
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Time Running out for Nuclear Option
Publication | 17 August 2011 | Tony Wood
Given lead times, Australia cannot count on a nuclear option towards its 2050 low-carbon electricity targets unless its politicians commit soon.
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The Future of the Electricity Network in Australia
Event | 24 August 2011 | Grattan Institute
Effective and efficient transmission of electric power from generators to consumers is a vital part of the electricity system. But what is the optimal design to support a very different energy system in the 21st century?
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Achieving Mitigation - Energy and Technology
Publication | 13 July 2011 | Tony Wood
The energy challenge is more about economics and public policy than technology. We need to create a policy framework that opens options.
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Carbon Package Moving in the Right Direction
Publication | 11 July 2011 | Tony Wood
The long-awaited climate-change package is a step in the right direction as it provides considerable certainty to business and the public and creates a framework on which to build. This framework will be critical for Australia to become a low-carbon economy in the coming decades.
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Climate Package: Grattan Institute Response
News | 10 July 2011 | Tony Wood
Grattan Institute welcomes today's release of the Federal Government's Climate Change Policy Package. Energy Program Director, Tony Wood said "The long awaited Climate Change Package moves in the right direction on many fronts. And it creates mechanisms to do better in future."
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The Future of Wind Energy in Australia
Event | 20 July 2011 | Various
Wind power is a rapidly growing source of energy globally and is now becoming a significant source of power in countries such as Germany, Spain, Ireland and Denmark. As one of the lowest cost zero-carbon energy sources available to date, this seminar explored wind market trends in Australia and internationally.
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Sustainable Energy - At what cost?
Event | 25 May 2011 | Patrick Hearps, Andrew Stock, Terry Teoh
The debate surrounding the transition from the current carbon intensive energy system to one that is sustainable and low-carbon largely centres on cost.
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Energy Specialist Appointed to Key Post
News | 13 April 2011 | Grattan Institute
Grattan Institute is delighted to announce the appointment of Mr Tony Wood as director of its Energy Program. Mr Wood will commence this role early May.
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Learning the hard way: Australia's policies to reduce emissions
Report | 7 April 2011 | John Daley and Tristan Edis
Because Australian governments have introduced more than 300 programs to tackle climate change since Australia signed the Kyoto Protocol in 1997, we can assess the evidence of what works and what does not in reducing carbon emissions. The evidence shows that what reduces emissions most effectively and cheaply is the creation of a market.
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Global Perspective: Implementing Carbon Pricing in a World of Political Resistance and Evolving International Participation
Event | 14 April 2011 | Professor Michael Grubb
Carbon pricing is the 'first among equals' in a broad triad of climate policy mechanism for cutting CO2 emissions, but is also the most politically difficult. This talk will briefly review the role of carbon pricing, the debates between taxation and emissions trading as a way of achieving it, and some of the key lessons learned from the European Emissions Trading Scheme. Professor Michael Grubb is Chair of the international research organisation Climate Strategies, headquartered at Cambridge University.
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Why Markets Can Best Cut Carbon
Publication | 29 March 2011 | John Daley
There is no magic pudding in reducing carbon emissions. But a market-based approach and good policy design can bring long-term benefits to innovative firms and people and to the Australian economy.
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Carbon Emissions: subsidies, incentives or taxes - what makes effective policy?
Event | 30 March 2011 | John Daley and Tristan Edis
Australian governments, both State and Federal, have tried hundreds of policies and programs over the past decade to reduce carbon emissions in the energy sector. A new study by Grattan Institute launched at the seminar investigated their impact and identify the patterns.
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Groundhog Day in Climate Change Policy?
Publication | 14 February 2011 | John Daley and Tristan Edis
Prime Minister Julia Gillard suggested last week that when her government sets a carbon price, big carbon emitters are likely to receive the same level of compensation payouts they were promised under the Rudd government's failed emissions trading scheme. The Prime Minister should think again.
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Let the Markets Lead the Way
Publication | 15 December 2010 | John Daley and Tristan Edis
Reviews of actual price and trading history compared to original forecasts, across six markets aimed at reducing pollution and promoting cleaner sources of energy in Australia, the United States and Europe, found that government and other experts consistently underestimated how much industry innovates and adapts. As a result government targets to reduce pollution were regularly achieved faster, and at lower cost than originally expected. It also finds that experts were routinely wrong in their predictions about which particular measures would be the lowest cost.
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Markets to Reduce Pollution: Cheaper than Expected
Publication | 15 December 2010 | John Daley and Tristan Edis
Grattan Institute finds that market driven technology innovation is the key to reducing carbon emissions. Experience shows that markets may not be perfect, but they are consistently effective at identifying lower cost opportunities, promoting innovation, and responding flexibly to changes.
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Betting on Nuclear Power
Publication | 6 December 2010 | John Daley
Australians are notorious for betting on two flies crawling up a wall. The emerging debate over nuclear power seems to be part of that tradition. We are punting on the cost of building power plants for delivery in 15 years time.
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Nuclear Power in Context
Publication | 17 November 2010 | John Daley
Reducing Australia's carbon emissions requires a substantial shift in electricity generation. Acquiring options to roll out any one of a number of technologies is prudent given uncertainties about future technology. Nuclear is clearly a candidate, but it is just one horse in the field - there is no guarantee that it will finish first. On best guess assumptions, Australia cannot count on a nuclear option towards its 2050 low-carbon electricity targets unless its politicians commit soon to building capabilities and planning.
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A Hybrid Design for Carbon Pricing
Publication | 4 October 2010 | John Daley and Tristan Edis
Australia should adopt a hybrid design for carbon pricing that puts a floor and cap on the carbon price within the emissions trading scheme. This would actively manage the uncertainty around the cost of abatement and reduce the likelihood of ad-hoc government intervention.
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Hybrid Scheme the Best of Both Worlds for Cutting Carbon
Publication | 24 September 2010 | John Daley and Tristan Edis
With a new Federal Government in place, political and policy attention has turned again to carbon pricing. We could have a tax, or a "cap and trade" scheme, but Tristan Edis and John Daley argue that a hybrid scheme would be the best solution. It would reduce business uncertainty, and reduce the costs of cutting carbon emissions. the only "danger" is that we might reduce our emissions by more than we planned, at a cost we are prepared to pay.
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Putting a Price on Carbon
Publication | 13 August 2010 | Tristan Edis
Unfortunately, Australian energy efficiency policy to date has been a series of grab-bag ideas, which have not been integrated into a considered and comprehensive strategy. In a three part article published online by the Climate Spectator, Tristan Edis explains why cold, hard statistical evidence suggests carbon pricing should be easy, and why politicians do not seem to believe this, and how we might be able to overcome this impasse.
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More Bark Than Bite
Publication | 22 July 2010 | John Daley and Tristan Edis
Research suggests that Australia can afford to place a price on carbon, even without a comprehensive global treaty. In a PointCarbon article, John Daley and Tristan Edis look at how a price on carbon could impact Australia.
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No Action on Emissions is a Costly Option
Publication | 15 July 2010 | John Daley and Tristan Edis
The climate change debate is inevitably influenced by the desire to minimise short-term political pain. Clearly, reducing carbon emissions is not going to be painless. However, doing nothing is also going to be painful. And measures that minimise the short-term political pain are liable to substantially increase the long-term economic cost.
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Restructuring the Australian Economy to Emit Less Carbon
Publication | 22 April 2010 | John Daley and Tristan Edis
Industry by industry analysis shows that an Australian carbon price will not result in widespread job losses or higher carbon emissions. Proposed free permits under the CPRS are expensive and will delay restructuring the Australian economy efficiently to emit less carbon.
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Restructuring the Australian Economy to Emit Less Carbon - A Grattan Event
Event | 28 April 2010 | John Daley and Tristan Edis
Grattan Institute released its public report "Restructuring the Australian Economy to Emit Less Carbon" on Thursday 22 April 2010. Using a detailed analysis of Australian industries' own data, the report concludes the proposed free permits being offered by the Federal Government under its carbon pricing scheme are unnecessary. The report also shows that adapting to a carbon price is less difficult than the structural adjustments as a result of tariff reduction, competition policy reforms and the introduction of the GST. John Daley, Grattan Institute's Chief Executive Officer, presented a seminar on Wednesday 28 April, outlining the key findings of the report and discussed the implications for Australian policy making.
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Carbon pricing - is a Tax Better than Emissions Trading?
Event | 25 March 2010 | Cameron Hepburn
Grattan Institute hosted a seminar on energy policy, with special guest Dr Cameron Hepburn. This seminar provided an opportunity for detailed discussion about climate change policy around the world, and what it means for Australia. We discussed the economics of various options for designing carbon pricing schemes.
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Minimum Price for Carbon
Publication | 13 November 2009 | John Daley
Until future carbon prices are assured, banks and investors will be reluctant to add to power capacity, writes John Daley.
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The Pricing of Carbon Emissions and International Trade
Event | 5 November 2009 | Daniel M. Price
The United States, the European Union, and other developed nations, including Australia, are moving towards regimes to put a price on carbon emissions. Daniel Price addressed questions such as: Are shifts in location to avoid carbon emission costs likely?
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Trade Policy and Climate Change Policy: Some Inconvenient Truths
Event | 9 September 2009 | Professor Ross Garnaut
The economic distortions associated with arbitrary allocations of free emissions permits to trade exposed industries in Australia is just one part of a global story. Without an effective international approach, this will contribute to a breakdown of the WTO based global trading system. Professor Garnaut discussed the problem and the way out.
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