Where is Australia in the Electrification Race?
The world is undergoing a significant transition towards electrification, and the race is on to determine which countries will lead the way. Electrification refers to the use of electricity to power devices, vehicles, and homes, instead of relying on fossil fuels. This move is essential to reducing greenhouse gas emissions and combating climate change.
The Electrification Race Around the World
Norway is currently leading the electrification race, with electric vehicles accounting for over three-quarters of all new car sales in 2022. The country also generates 98 per cent of its electricity from renewables, mainly from hydropower with thermal and wind energy additions.
New Zealand is also making significant strides towards electrification, having generated 84 per cent of its electricity from renewables and aiming to be 100 per cent renewable by 2035 and carbon-neutral by 2050.
Sweden has reached its goal of 50 per cent renewable energy in 2020, eight years ahead of schedule, and is on track to achieve 100 per cent by 2040.
If you’re interested in learning more about which other countries are leading the charge on renewable energy, be sure to check out the Climate Council‘s article.
Where Does Australia Sit in this Race?
Australia, on the other hand, has been slower to adopt electrification than some other countries, with just 35.9 per cent of its total electricity generation coming from renewables. However, this figure has more than doubled from 16.9 per cent in 2017. Electric vehicle sales have been slow, accounting for just 3.8 per cent of all new car sales, although this figure is increasing, and plans are underway to build a network of electric vehicle charging stations across the country.
With the right policies and investments in place, Australia has the potential to become a leader in electrification in the coming years. Harnessing its abundant natural resources, such as wind, sun, and land, would position Australia as a global leader in renewable energy and demonstrate the country’s commitment to taking climate action. The benefits of switching to renewable energy go beyond reducing emissions; it also contributes to a secure economy, job creation, and a reliable energy system.