The Superpower Institute, an Australian think tank, said the potential revenue from the country’s clean energy exports is A$700 billion based on current industrial production, with projections of A$1 trillion by 2060.
The report, ‘The New Energy Trade’, identifies significant clean energy shortages in China, Japan, South Korea, India and Germany, with demand expected to outstrip supply by 37% to 66 by mid-century % will exceed.
Options to bridge the gap, such as nuclear power, remain uncompetitive; even tripling China’s nuclear construction rates would only meet 7% of China’s electricity needs in 2060.
Australian export of green materials such as iron, aluminum, transport fuels and polysilicon could reduce global emissions by as much as 9.6% in 2021 and generate revenues six to eight times greater than fossil fuel exports.
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