Australia’s net zero farce rolls on


A report from the Green Building Council of Australia, reported in The AFR, shows that Australia had more than 10.9 million homes in mid-2022, and this is expected to increase by 40% by 2040.

It is estimated that about 5.2 million existing homes are connected to the gas network, while an additional one million homes use bottled gas.

The Council has warned that 500 existing homes per day will have to be retrofitted to solely use electricity if the nation is to meet the net zero emissions target of 2050, which would cost as much as $4.6 billion a year.

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.