Decarbonising Australian Electricity - Policy and Technology Options for the National Energy Market

Explore the complex landscape of decarbonising Australian electricity in this 57-minute lecture by Professor Michael Brear from the University of Melbourne. Delve into the ongoing debate surrounding policy options like Direct Action, Renewable Energy Target (RET), and carbon pricing, as well as technological solutions including renewables, nuclear power, and carbon capture and storage (CCS). Examine a comprehensive analysis of the National Energy Market, covering Victoria, New South Wales, Queensland, South Australia, and Tasmania, to understand various decarbonisation options for 2050. Learn about the technology and policy-neutral approach used to compare different energy sources and their potential to meet emission reduction targets while minimizing consumer costs. Gain insights into modelling considerations, operational constraints, and scenarios involving utility-scale energy storage, rooftop PV, and long-lived plant options. Discuss the uncertainties, known unknowns, and the intricate relationship between cost and price in the renewable energy sector. Conclude with a look at planning and implementation strategies for a non-nuclear approach to decarbonising Australian electricity.

Introduction
Welcome
Acknowledgements
National Electricity Market
Decarbonisation of the NEM
Current Generation
Sources
Reality
Infrastructure
Abatement
Problem formulation
Modelling considerations
Utilityscale energy storage
Unit commitment
Operational constraints
Reference scenario
Longlived plant scenarios
Rooftop PV
Discount Rate
Typical Results
Terminal Conditions
Intermediate Results
Uncertainty
Known Unknowns
Cost and Price
Renewable Energy
Plan and Implement
Nonnuclear