Building clean-tech manufacturing in Australia could create of up to $215bn in revenue and 53,000 new jobs by 2035, according to a new report by an independent think tank.
Beyond Zero Emissions is calling on Australia to seize the opportunity and harness the nation’s abundant resources to help move the world towards net zero.
It comes as the Albanese government made major investments in clean-tech hubs in Gladstone, Queensland and the NSW Hunter Region over the last month.
BZE chief executive Heidi Lee said Australia already had the skills and key technologies needed to create a zero emissions economy, we just needed to use them.
From making batteries to recycling steel, the future is already being made in Australia,” she said.
Growing just five onshore clean-tech supply chains – solar, wind, batteries, heat pumps and commercial EVs – could generate $215bn in domestic revenue and create up to 53,000 new jobs by 2035, according to the report.
The most promising sector is battery technology, which has the potential to contribute at least $114bn in revenue – accounting for more than half of the proposed revenue growth.
Australia’s grid is powered by 36 per cent renewables and could climb to 93 per cent renewables as early as 2035, according to the Australian Energy Market Operator’s green energy export scenario.
More than 70,000 gigawatts/hour of battery storage will be needed to support the booming electric vehicle transition and another 7800 gigawatts/hour to support at-home renewable power systems.
To do this, Australia will need a dramatic scale-up of the nation’s manufacturing capabilities to help build clean technologies.
The report suggests Australia has a once-in-a-generation opportunity to re-industrialise the nation and create jobs by incentivising more value-added onshore processing of mined resources and diversifying the supply chain in each key clean technology.
Source: News.com.au
