Topical Report #1: Updated Net Zero Pathways for Australia

<p dir="ltr">The Net Zero Australia (NZAu) Project is a partnership between The University of Melbourne, The University of Queensland and Princeton University. The NZAu Project is intended to be rigorous and granular, evidence driven, technology neutral and non-political in its approach. Our modelling:</p><ul><li>uses a scenario-based approach;</li><li>uses the best available inputs and assumptions;</li><li>uses a least cost optimization approach; and</li><li>‘downscales’ our results to a regional and sub-regional basis.</li></ul><p dir="ltr">Phase 2 of the NZAu Project is focused on:</p><ul><li><i>tracking </i>how the Nation is performing relative to what is needed;</li><li><i>analysing </i>major aspects of the decarbonisation challenge with sufficient depth and rigour for policy development and planning;</li><li><i>making practical recommendations</i> that can achieve deep decarbonisation while acknowledging environmental and social objectives and trade-offs; and</li><li><i>translating </i>these recommendations more strongly into policy, planning, investments and, ultimately, operational projects.</li></ul><p dir="ltr">This report, <i>Updated Net Zero Pathways for Australia</i> includes results from our modelling, including:</p><ul><li>assessment of the roles of<b> renewables, energy storage, natural gas firming, carbon capture and storage </b>and other, complementary technologies;</li><li>the implications of <b>technology build rates</b> and other constraints on <b>when</b> <b>we might achieve net zero</b>;</li><li>where we may need new <b>electricity and gas transmission;</b> and</li><li>the estimated <b>costs </b>of net zero emissions, overall and disaggregated by <b>residential, commercial and industrial</b> energy users.</li></ul><p dir="ltr">It does not include our methods and assumptions, which can be found on our website. </p>