Andrew Speare that is the most common failure on digital cameras. I suggest that you try a few of [http://camerarepair.blogspot.com/2007/12/fixing-lens-error-on-digital-camera.html|the tricks] and see if it helps.
Ultimately the only other thing to do is to replace the complete lens. For that [[Topic:Canon Powershot SX30 IS|these guides]] and [https://www.youtube.com/watch?v=HN4pCTZTuL8|this video] should be helpful.