The fossil fuel lobby has played the joker in its pack. Even after assuming the improbable – that renewable costs would be double even conservative estimates – they conclude that the RET is costing households $1 a week. And that’s even before calculating the benefits.
If Tony Abbott wants to cripple Australia’s renewable energy industry, as many suspect, he can do so without doing anything at all. That’s because the removal of the carbon price could make long-term financing unfeasible, even if the renewables target is unchanged.
One of the tragedies of Australia’s large scale renewable energy industry is that it has an excellent policy in place. But such is the level of uncertainty about the future of that policy, the industry cannot move forward.
New player in solar leasing says Australian market could reach $100 billion. It sees huge demand from businesses, as well as homes when battery storage becomes cost competitive in a few years, and it sees huge appetite from banks and super funds for an annuity style infrastructure investment.
CEFC brings in US solar giant SunEdison to Australian rooftop solar market, and helps local manufacturer Tindo. All told, $166 million will be deployed to expand solar financing and power purchase agreements to avoid up front costs of rooftop solar.
Coal generators are celebrating the repeal of the carbon price, and large scale renewables are at a standstill. The next item on the COALition agenda is wind and solar, but consumer groups are fighting back.
As Tony Abbott commits Australia’s economy to a fossil fuel future, the market price of coal is crashing, and global capital is turning quickly to clean energy and climate solutions. Has the Abbott government got a Plan B?
Australia becomes the first country in the world to remove a carbon pricing scheme established to combat climate change. The win for the Coalition is hailed by Abbott and his inner circle of climate deniers, claimed by the PUP, and condemned by almost everyone else.
US developers of what once was billed the ‘world’s largest’ wave energy project, Ocean Power Technologies, have abandoned plans for the $232m plant off the coast of Portland in Victoria. But it was always a project that was unlikely to deliver.
The new game for anti-Green rednecks in US is to blow black smoke at electric vehicles from their pick-ups. This week, Tony Abbott will achieve the political and economic equivalent of “coal rolling”, scrapping carbon price as China prepares to announce first emissions cap.
Australian electricity utilities face a new challenge from a fast-growing interest from Australian households in home energy storage. One in five solar customers now inquiring about storage, and returns on investment are soaring as costs come down.
Mike Willesee interview with Ricky Muir saved renewables in Australia; will Abbott go for a 30/30 target; renewable investment to remain at standstill; ARENA still uncertain; solar industry still exposed; and Tony Windsor’s helping hand to Palmer.