By Jo Nova

How to hide $100b storage, transmission lines, battery costs in a dodgy accounting trick

The cost for our whole national $100 billion dollar energy transition apparently rests on a CSIRO report that assumes we’ve already spent the infrastructure money “therefore” future costs after 2030 are almost nothing. It’s like a Nigerian email scam… except that it has fooled our Minister for Energy.

You have been selected to win a new national electricity grid, just give us your economy…

Chris Bowen, said Minister, thinks wind and solar will reduce the cost of electricity, despite them doing the opposite so far.

The CSIRO GenCost report says that renewables are cheap if we pretend we have already spent the money on the transmissions lines, the pumped storage, the “firming” of the grid. It’s like a used car salesman that says the second hand electric car will be cheap to run while hiding the twenty grand you have to spend on a new battery before it can move out the door…

There is a circular reasoning here that says we assume it’s worth spending bezillions now because renewables will be cheap after we have spent bezillions. […]