ARENA has suffered a 5 pct cut in funds, and had a further $370 million in funding deferred. However, the agency says the “reprofiling” may suit its investment plans, as it considers tariff support and contracts for difference to augment one off grants. And it is about to launch a new $400 million off-grid and remote renewables investment program.
Category: News & Commentary
WA’s new energy minister doubts the fact of climate change, is pro-nuclear, thinks brown coal is clean, hates windmills and says solar is too expensive. He also thinks a ‘negawatt’ is an activist plot. Given that Australia now has a full house of backward-thinking, conservative energy Czars, what chance do renewables have in this country?
IPART continues to demonise the costs of renewable energy support mechanisms, at the same time as adding to those costs by sanctioning above market cost pass-throughs. And consumers will pay nearly double those costs to feed into a kitty so that their neighbours can be offered “discounts”. Anyone hear the sound of laughter?
It might seem ironic, but environmentalists and farmers fighting the expansion of coal mining and coal seam gas across Australia are the only thing likely to moderate the rude economic awakening we face when the global carbon bubble bursts and the fossil fuel industries start their inevitable, terminal decline.
Skeptical Science has developed an excellent collection of one-line responses to deniers of climate change. Here are the top 99 with links to the science.
It is finally dawning on Australia’s largest energy utilities that not only are their customers unfaithful, they are also ignorant. So Origin Energy has turned to lolly wrappers to try and inform its target market. Sounds like fun, but it belies a deeper problem for the energy industry: the age old oligopoly is under threat from the democratisation of energy.
New report suggests rooftop solar should be embraced as a natural hedge against volatile electricity prices, and to hasten transition to low carbon system. But it warns that incumbents are lined up against the technology, but politicians would be ill-advised to side with the owners of legacy assets.
Electric vehicles and household solar PV systems are the perfect technological and ideological fit. So why aren’t they being promoted in this way?
The latest Cedex report finds the total amount of electricity supplied by Australia’s coal-fired generators at its lowest level in the history of the NEM. But while the report links the introduction of the carbon price to falling emissions and rising renewables output, the reduced demand for coal looks more like the new normal.
The Climate Change Authority launches its review of Australia’s emissions caps and trajectories, and for the first time will consider an appropriate carbon budget for the country. That could come as quite a shock to some industries, and politicians. Meanwhile, Citi warns that super funds will come increased pressure to manage their exposure to fossil fuels.
The Clean Energy Finance Corporation may enter financing contracts for renewable and low carbon projects before July, when its funds become available. CEO Oliver Yates also says solar leasing will be an area of interest. Meanwhile, Greg Hunt tweets a dodgy number.
New study finds $7.3trn of natural capital costs not being priced by the global economy. If it was, none of the top 20 regional sectors would be profitable, let alone cover their cost of capital. Time to change our economic measurements? One ANU academic says business-as-usual is a ‘utopian fantasy.’
The IEA says the world is not acting quickly enough on decarbonising its energy system. In its third major report, it notes good progress in solar PV, onshore wind and hydro, but says CSP and offshore wind is dragging the chain, and CCS and nuclear are stalled. It wants governments to act decisively, before it’s too late.
HSBC says the world is rapidly depleting its carbon budget, approaching ‘Peak Planet’ and must achieve a peak in emissions by 2020, leaving much of its fossil fuels in the ground. Impossible? HSBC says not, and is encouraged by growing public awareness, favourable economic drivers and falling technology costs for renewables.
Australia’s huge coal industry is resting on a speculative bubble that ignores global carbon budgets and exposure to rapid devaluation