The Low Carbon Growth Plan for Greater Geelong demonstrates that substantial opportunity exists for Greater Geelong to reduce its emissions by 2020. In fact, the city can reduce its emissions by 6% below 2000 levels while saving $37 million per year, demonstrating that the transition to a low carbon economy can deliver economic benefits.
By proactively managing its transition, the municipality can benefit from the economic opportunities that come from increasing demand for cleaner technologies, innovation and 'green skills'. It will also help to minimise the financial impact of the carbon price on local businesses and households.
The opportunities identified in the Plan to reduce Greater Geelong's greenhouse gas emissions are intended to be low cost and practical. Most of these opportunities focus on improving energy efficiency, which usually delivers financial savings even after any upfront costs are factored in.
About the cost curve
The marginal abatement cost curve (MACC) for Greater Geelong shows that about half of all opportunities identified in the Plan are profitable, even after up-front costs are factored in. Most emissions reduction opportunities available to the municipality come from improving energy efficiency in industry or the built environment. Potential also exists for increasing localised energy generation through cogeneration, converting waste to useful energy, geothermal energy and solar PV.