Our older electricity power stations typically have thermal efficiency of 38 per cent. According to the International Energy Agency"High-efficiency, low emissions (HELE) technologies in operation already reach a thermal efficiency of 45 per cent, and technologies in development promise even higher values. A successful outcome to ongoing RD&D could see units with efficiencies approaching 50 per cent or even higher, demonstrated within the next decade".
Australia also needs to get cracking on gas-powered electricity. Where the gas will actually come from is not guaranteed at this point, as is its likely price. Victoria, which has substantial reserves of onshore gas that do not require fracking, is an obvious candidate (Victorian politics permitting).
Gas-powered electricity can be stepped-up without too much political fuss (because our activists are less emotional about gas). On the other hand, green groups might be expected to "go ballistic" if Australia started building new coal-powered generators, however efficient and low cost they might be.
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At present nobody seems to care that the cumulative cost of “renewables” could exceed a trillion dollars (Dutton put the figure at $1.3 trillion). This is a truly horrendous cost considering that our GDP in 2023 was only $1.7 trillion. Australia looks like ending up with up with a very costly white elephantine electricity infrastructure, and the last of our heavy industry might close, before Chris Bowen is finished with his unworkable “renewables” mega-spend.
More pain on the part of Australian electricity and gas consumers is required before our population is forced to become realistic about energy policy. In the meantime, I can foresee a boom in sales of petrol and diesel generators in the not-so-distant future.
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