Hot rocks rock!

So there is clearly enough energy available in Australia's renewable energy sources to cover all our needs. The question is how to organise the economics so that the costs are minimised. The solution to this is to increase the price of energy but to give it back to the purchasers as tagged money and require them to invest in renewables. The person can then either sell the tagged money that they receive or invest it in renewable energy sources. Thus the price increase is effectively removed by the value of the tagged money as an investment.

The system will work because the running costs of renewable energy plants is less than the cost of fossil fuel. The system is transferrable to other countries and we can either export extra energy or we can export the technology and the systems. Either way Australia will be better off in an economic sense and at the same time we will stop our green house emissions.

The Innamincka field has been used as an illustration but it is only one of many ways to invest in renewable or energy saving technologies. There is already a thriving investment market for technologies to reduce greenhouse gas emissions and any of these solutions can be targets for our tagged money.

All we have to do is set a target, set the price increase required to give the investment needed and then let the market for renewable energy choose the least cost method of providing the energy.

This is guaranteed to work, could start tomorrow, will not put a cost burden on the economy and needs no regulation as the rules are built into the infrastructure trading system and are based on contract law. That is, people who say they have a technology to reduce emissions must deliver if they accept money from people who purchase that infrastructure.