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The rapid electrification of our homes, businesses and vehicles, powered by renewable energy, must be urgently pursued by the next federal Government as a new scientific paper reveals the world can still keep global warming below a catastrophic two degrees. The scientific journal Nature has produced the first study to rigorously quantify the climate impact of emissions reduction pledges made before and during the global COP26 conference in November. It finds there is a 50 per cent chance of keeping warming below 1.9 or 2 degrees by the end of the century. chief scientist, Dr Saul Griffith, demonstrated that rapid price reductions in already available technologies enables rapid decarbonisation of the domestic economy and that this would be more cost effective than other forms of carbon reduction, in fact financially positive for consumers over this decade. Dr Griffith said no nation was better placed than Australia lead the way, through decarbonising the domestic economy by replacing fossil fuel powered cars, heating and stove tops with renewable powered, electric versions. “Australia can lead the world in harnessing the power of the sun to run our homes and cars, smashing carbon emissions and obliterating energy bills at the same time,” Dr Griffith said. “The national pledges made by Australia, America and other countries fail to factor in how the declining costs of EVs, solar, batteries and efficient household appliances can combined as a package that zeros energy emissions for households. “Electrifying our homes and vehicles is the fastest and cheapest path to decarbonising our domestic economy. By 2030 it will save close to $5,000 per year per household on their energy bill and reduce domestic emissions by 40 per cent. “This election is the perfect opportunity for a party or candidate to commit to electrification. The first step is to pilot the electrification of an entire suburb or street, where we replace all gas appliances and combustion engine vehicles with renewable powered electric versions. An analysis released by the Australia Institute found that for the 2020-2021 financial year, different levels of Government provided more than $11.6 billion in fossil fuel subsidies. “This is entirely counter-productive,” Dr Griffith said. “We are doling out subsidies to energy sources that are choking the planet while we leave proven technologies sitting on the bench. Subsidising fossil fuels also makes the world more unstable and dangerous, strengthening the hand of petro-states and oligarchs. “Redirecting just a fraction of fossil fuel subsidies to households would allow them to rewire their homes and adopt the latest zero-emission technology while saving thousands every year on their energy bills. “This should be a no-brainer.