Transition from fossil fuels, ‘slow, expensive, painful’

Friday 14 March 2025

I posted two charts on Thursday showing the monumental task of transitioning Australia off fossil fuels.

According to the federal government’s 2024 Australian Energy Update, only 9.4% of Australia’s energy consumption in FY2023 was from renewable sources.

The breakdown of energy consumption by fuel source was as follows as of FY2023:

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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.