A research done by ACIL Tasman revealed emissions reductions in Australia are expected to decrease the countrys power generating capacity in the east coast by a significant 23% by 2020. The Energy Supply Association of Australia (ESAA) stated this lost capacity would be compensated by focusing on gas-fired and renewable power facilities. The Australian government has planned to reduce electricity-generated emissions by up to 20%, which would mean reduction of around 6,700-10,400 MW of power.
At present, the nation gets around 85% of its power supply through coal-fired plants, which generate huge amounts of CO2 emissions if compared with gas plants. The research also highlighted that the country will have to put in around $31.7 billion through 2020, a large proportion of which would go to development of renewable energy facilities and gas-fired plants.
ESAA CEO Brad Page says the situation is very promising indeed.