Transition to Renewable Energy
Households are expected to lead the transition to renewable energy with the use of photovoltaic (PV) systems, batteries, and electric vehicles (EVs).
However, in order to effectively reduce emissions, a carbon price is still necessary for the grid.
Pricing carbon will make electricity more expensive than not pricing it. But it will give us something we value: lower emissions.
Despite the potential financial strain on consumers, a carbon price is a crucial step towards reducing greenhouse gas emissions.
A recent report by the Grattan Institute, Bills down, emissions down: A practical path to net-zero electricity, suggests that emissions from electricity generation can be reduced while also decreasing total household energy bills.
Key Findings
- Emissions can be reduced from electricity generation
- Household energy bills can fall significantly
Author's summary: Households lead the transition to renewable energy with PV, batteries, and EVs.