Australia can dwell the dream of renewable energies – all we want is a trillion {dollars} in authorities loans – watts with that?

Guest contribution by Eric Worrall

Australia’s youngest climate guru Saul Griffith believes we can meet our climate goals if we install solar panels on most roofs and electric cars in all driveways.

One solution to climate change could come from electrifying everything, says Australian inventor Saul Griffith

ABC Science / By technology reporter James Purtill

Important points:

According to experts, “electrifying everything” is the cheapest and fastest way to reduce emissions

Households would replace gasoline cars, gas heaters, and other items with electrical alternatives

These changes would only be minimally disruptive, but would result in large emissions reductions

In his speech from San Francisco, Sydney-born inventor Saul Griffith explains how Australia can quickly achieve most of its net zero emissions with existing technology.

Dr. Griffith is also an entrepreneur and US presidential campaign advisor and one of the most prominent global proponents of what can best be summed up as “electrifying everything”.

“If I had to choose the country where electrifying everything in the shortest amount of time is the best economic gain … it’s Australia,” he said.

What would that cost the households?

Dr. Griffith estimates the acquisitions would cost about $ 100,000 per household.

Multiply that by 10 million Australian households, and you get $ 1 trillion.

But much of that is money that households would have spent anyway replacing cars, heaters, etc., emphasizes Dr. Griffith.

The only difference is that you buy an electric version.

The government could offer a system of cheaper credit to help electrify households, he suggested.

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I doubt Saul’s estimate covers the cost of industrial electrification and probably doesn’t even cover the cost of household electrification in full. But run less with his numbers for a moment.

The biggest problem I notice is the spending that Saul is suggesting, not an isolated one. If everyone continues to replace their devices every 10 years, we’re talking about an additional $ 1 trillion or $ 100,000 per household that needs to be co-funded through additional government loans every 10 years.

Since none of these government-funded electrical appliances have a positive impact on productivity, the result of everyone spending more on essentials would result in everyone getting poorer. The net effect is that ordinary people would have to divert significantly more income to service the ongoing national debt burden that Saul has “blacked out” in their lives.

Spending less money on retirement or enjoying the fruits of hard work. More dependency on the state when you get into trouble and have trouble paying back your “cheap loan”.


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