Bloomberg New Energy Finance's latest analysis underscores the critical need for Australia to swiftly decarbonize its power sector to achieve the net-zero commitment by 2050. The report indicates that an investment of $3.56 trillion is imperative by 2030, with renewable energy capacity needing to grow by 135% to over 126 GW. The focus is on transitioning towards renewables like solar and wind while incorporating flexible technologies such as batteries and pumped hydro. The report stresses that the next decade is crucial for the rollout of renewables to stay on track with decarbonization targets. By heavily electrifying sectors like power, transport, and buildings, Australia aims to push overall electricity demand up, with solar and wind installations projected to reach 290 GW by 2050. Additionally, the need to scale up emerging technologies like electric vehicles and hydrogen is emphasized to ensure a path to net zero. While acknowledging the significant investment required, the report highlights that this venture would cost only 12% more than the baseline scenario but yield superior outcomes in terms of net-zero objectives.