What Australia gains from shutting down fossil fuel plants is being a part of the future. Coal is going the way of the dinosaur for generating electricity. It is just not competitive with renewables/batteries in cost of product. Why would we want to continue on with 100 year old technology while the world moves on? If we persist, we miss out on being part of the renewable energy future that most of the world is busy adopting. We will not have industries that make solar panels, batteries and wind turbines, and will be forced to import them because it will be cheaper than setting up the industries to make them.
If we were to make a policy decision that renewables are the future, business would get in on the bleeding edge of the technology and make world-beating products that we could export. We could set up massive solar and wind farms to manufacture green hydrogen, a commodity the world will be crying out for in a few years. One estimate I saw said it could be a trillion dollar industry because Australia has all the natural advantages to do this which nowhere else does.
AGL Price at posting:
$8.35 Sentiment: Hold Disclosure: Held
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