The report charts a pathway to a Tasmanian economy running entirely without fossil fuels – a carbon zero economy, the first of its kind in the world. It quantifies the opportunities arising from new energy infrastructure, the reduction in carbon emissions, and the amount of new infrastructure required.

The report finds Tasmania needs more clean energy to phase out fossil fuels, requiring at least 21,200 GWh of electricity annually to fully phase out fossil fuels across heavy industry, large commercial energy users, transport and households.

The authors argue Tasmania stands at the forefront of a major economic opportunity in renewable energy, driven by global shifts away from fossil fuels. The report emphasizes that Tasmania can leverage its expertise in hydropower, wind, and solar energy to expand clean energy production and become the first carbon zero economy anywhere in the world.

The report uses AEMO’s Integrated System Plan (ISP) 2024 Step Change scenario as a baseline. However, this report departs from AEMO assumptions and resulting conclusions where they do not reflect local Tasmanian conditions and expected market developments.