– we like to invest in businesses that are game changers, we like to invest in businesses that are going to make a real difference to the planet and make us safer, which is another reason I am very interested in cybersecurity, another area of interest.
What that means is we are going to need more long duration storage in our system than other countries have, which have got continuous zero emission generation. This is where the talk about capacity payments is important.The bottom line is we are going to have to pay people to have energy in reserve.
I just hope the Greens don’t do what they did in 2009. You can’t really say they started a decade of climate wars, but the truth is by blocking the CPRS [Carbon Pollution Reduction Scheme] at the end of 2009, they created the environment in which Tony Abbott could kick off that decade of climate wars which has just been so debilitating and so destructive. That is why I fought so hard in 2009 to get that legislation agreed and through because I could see the window was closing.
The reality is the cheapest form of primary generation is today – and has been for some years now – wind and solar there is no question about that. The question is how do you deal with its variability and the answers to that are again pretty straightforward; it is transmission, and it is storage, batteries. I think the big element is going to be pumped hydro. This is where
Taxpayer subsidy farming
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