I agree in principle with everything you've said, though I would emphasise that the most significant thing we need to do is behavioural change, and that simply spending money doesn't cut it.
Electrification is a necessary but insufficient step -- we must combine electrification with a significant cut in consumption -- both of time-of-use-energy, and manufactured/embodied energy.
To manufacture a new petrol car releases about 10 tCO2, and to manufacture a new electric car releases about 15-20 tCO2. Some simple maths shows the problem if Australia replaces its car fleet (20 million cars).
Simply, we can't make 20 million cars (of any type) and remain within our carbon budget (though currently, due to accounting trickery, we pretend that emissions that occur in China are a Chinese problem, even though they are manufacturing the goods that we buy)
Because of this, we must, as a matter of priority, move away from the private car as a model of transport. This is the reason that my family's predominant transport is bicycle and public transport. This is doable for most Australians, but it takes some effort.
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