Funds, Infrastructure and the Post-Covid Economy By Peter Newman - - PowerPoint PPT Presentation

Funds, Infrastructure and the Post-Covid Economy

By Peter Newman AO Professor of Sustainability Curtin University

1. The PARIS AGREEMENT. Net Zero Emissions by 2050, 40% by 2030. 2. THE SUSTAINABLE DEVELOPMENT GOALS 2015-30 Zero poverty 2030 100% agreement, not sure how?

The Agenda: Zero Carbon- Zero Poverty

‘’There is no shortage of capital for financing the new economy for at least 5 years’ Ross Garnaut

The nation’s most prophetic economist

Dramatic shift towards Net Zero investment….

Schumpeter called the process ‘creative destruction’ in 1939 What is the 6th wave? ‘Covid, Cities and Climate’ Urban Science

Transitions have emerged from economic collapse in 5 big waves of innovation…

T SLIDE TITLE

• RENEWABLES, especially solar and wind.
• BATTERIES, especially Li-ion.
• ELECTRIC VEHICLES, cars, transit, micro-mobility. ‘Electric

everything’.

• SMART CITY, especially data sensors, control systems,

machine learning, blockchain. And ICT replacing travel….

The INNOVATIONS….Ready to go as a Cluster

• HYDROGEN, in fuel cells and direct use in industry for

cement, steel and mineral processing. REGIONAL not CITY

• CIRCULAR ECONOMY, full recycling including electronic

waste, batteries and PV’s, and all plastic.

• BIOFUELS or SYNTHETIC HYDROCARBONS for Shipping

and Aviation

The INNOVATIONS….Not quite ready.

The transition is now way past ideological interventions

Net additions to global power system

And they are accelerating in the Covid collapse….

Cause?

Demand drops so utility uses the cheapest marginal cost. RE Fuel is free! Happening in all OECD nations

BATTERIES ARE BETTER THAN GAS 150MW in SA, less than 1 second response for peaking - gas turbine take 6 seconds!

33% of Perth homes 1200 MW in 8 years… Largest power station in WA 70% by 2025 ‘It is inevitable…’ Minister for Energy. Manage grid with Blockchain

Rooftop solar and distributed energy model

Perth showing it works

The cluster of solar- batteries-EV’s-smart tech can scale up or down, its modular…hence distributed energy is the future. LOCALLY MANAGED!

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ELECTRIC VEHICLES

EV’s substantially increased market share in COVID.. Bloomberg NEF Micromobility grew 17% in 6 months

REGIONAL ECONOMY and HYDROGEN

HYDROGEN NEEDS TO BE MADE IN REGIONAL PORT AREAS as it can process minerals and cement from regions We have:

• Sunshine,
• Battery minerals - Lithium Valley
• Iron ore and alumina that need to

be processed into metals next to where they are mined

• Excess Hydrogen can be exported

The Conversation