<
https://reneweconomy.com.au/no-more-fossil-gasplaining-going-electric-is-past-the-tipping-point-and-guaranteed-to-slash-cost-of-living/>
"The electrification of Australian homes and vehicles is no longer trade-off
between climate action and cost, but a guaranteed way to drive down the cost of
living – and a economic policy imperative.
A new report from Rewiring Australia says Australia has passed the
“electrification tipping point,” where replacing gas appliances and petrol cars
with electric alternatives works out cheaper over a 15-year period, even
accounting for any higher up-front costs.
This means, for example, that while an electric heat pump hot water system
might cost around $4,000 compared to $1,900 for a gas hot water system, a gas
system would spend up to $8,000 on fuel over 15 years, compared to $3,900 on
grid electricity for the heat pump, or just $1,000 with rooftop solar.
Electric heat pump air conditioners can save an average of $530 in bills per
year in 2025 compared to heating with gas, and over a 15 year lifetime with
upfront costs included, save an average of $8,500, the report says.
Electric driving, too, is now the lowest cost way to drive including upfront
costs, according to Rewiring Australia, offering savings of $1,500 per year in
driving costs in 2025, or $2,500 with solar.
Over a 15-year period, electric vehicle drivers could expect a saving of
$17,000 with upfront costs included, compared to a similar petrol car, or
$35,000 when charging with solar.
Put another way, solar EV charging, the report says, is the equivalent of
paying $0.13/Litre in a petrol car, while grid electricity charging is
equivalent to $0.80/Litre (petrol prices are currently around $1.90/Litre).
Overall, a typical Australian household using gas heating, gas water heating,
gas cooking, and petrol vehicles is likely to spend an average of $9,200 a year
on energy bills (including petrol), versus $1,300 per year for that same
household electrified.
Looking forward over a 15-year period – and factoring the upfront costs of
replacing fossil fuel appliances and vehicles – a fully electrified household
with rooftop solar and a battery will spend $4,100 less per year on average,
the report says.
“The economic tipping point has been reached for each appliance or vehicle
purchase decision and for the whole home,” the report says, in all states and
territories
“Reaching this point emphasises that rapid household electrification should not
be seen as a cost of solving climate change, but rather as a nation-building
investment opportunity to deliver lower bills, lower emissions and improve
national energy productivity.”"
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
