BloombergNEF (BNEF) has outlined a pathway for Australia to achieve its net-zero energy goal by 2050, stressing the urgency for significant investments in renewable energy sources. The report indicates that Australia needs to invest AUD 3.56 trillion by 2030 to drive decarbonization efforts and meet the ambitious target. Key findings suggest that the country must transition towards renewable energy rapidly, with coal and gas generation expected to phase out by 2035. The focus will shift towards a mix of renewables supported by flexible technologies such as batteries and pumped hydro. The analysis by BNEF projects a substantial growth in solar and wind capacity, aiming for a combined 290 GW installation by mid-century. Additionally, storage solutions like batteries and pumped hydro are set to increase significantly. Despite the massive investment requirement, BNEF believes that the cost of this transition would only be 12% higher than the baseline scenario, offering substantial benefits in terms of achieving net-zero emissions. Furthermore, the report underscores the importance of not only ramping up solar, wind, and energy storage but also scaling up technologies like electric vehicles and hydrogen. BNEF emphasizes that these innovations are crucial for Australia to reach its net-zero targets, despite challenges related to reliability, acceptability, and scalability. The report suggests that without the adoption of these emerging technologies, emission reductions would need to be pursued through more expensive alternatives in other sectors of the economy. In conclusion, the report highlights the critical role of immediate and substantial investments in renewable energy, alongside the scaling up of key technologies, to propel Australia towards a decarbonized future and achieve its net-zero commitment by 2050.