New report from HSBC says conventional generators will be the biggest losers from the upcoming energy storage boom, as both consumers and grid operators look to battery and other storage technologies. Germany will lead the way as they may be first to “storage” parity.
IEA says rooftop solar is “unbeatable” and will underpin its forecasts for solar – both PV and thermal with storage – to become the dominant energy technology, with costs falling to 4c/kWh. Finance is a key, however, and that will require some stable and sensible policy.
Consumers call out Abbott on renewable cost analysis, saying its own modelling supports retention of RET. This comes as government finally makes approach to Labor, but hedges on what its proposed changes would be.
Australian gas industry fears losing more than one million households to solar hot water systems in coming years. It will probably happen anyway because of soaring gas prices, but it wants to stem the tide by abolishing the SRS, with the promise of saving $50 a year – by 2034.
Energy utilities have decided to take solar and storage seriously after all, and at least one is said to have a ‘plan B.’ This comes as new research says one-third of customers will switch suppliers, or leave the grid, as solar, batteries and EVs provide new options.
Australia’s energy blueprint, and its international politicking, is based on the hope that fossil fuels continue to rule. Given the momentum of international investors, it’s a hopelessly misguided strategy.
Major new report from ClimateWorks suggests Australia should aim for 50% renewables by 2030, as important stepping stone to zero-carbon economy by 2050 – when we will still have air-conditioning, drive cars, and enjoy a thriving economy.
An unheralded G20 report calls on nations to introduce carbon pricing; little wonder Australia doesn’t want climate change mentioned at the November summit. Meanwhile, Abbott determined to keep Australia at margins of global climate talks, and will not offer new targets.
Just as Australia dumps its carbon price, investor groups representing $24 trillion of funds under management call for carbon pricing across the globe, as the push for a new international climate agreement gathers pace.
Greens leader Christine Milne has called on Australia to commit to being “net carbon zero” by 2050, and commit to cutting emissions by up to 60 per cent by 2030. Australia should phase out coal fired power stations by emissions regulation, as had occurred in US and China.
The news gets worse and worse for the coal industry, but the smart investors have already bailed from the sector. Despite this, Australia continues to bet the future of its economy on a commodity in terminal decline, and turn its back on the technologies of the future.