CEFC commits $100 million to Origin Energy to help utility giant expand its offerings of rooftop solar and battery storage to consumers.
Tag: "Origin Energy"
Australia’s biggest two utilities have decided they want to own the rooftop solar on homes and business, and maybe the storage and EVs too. RE interviews the executives behind the strategies, and their attempts to switch from a centralised model to a distributed future.
Operator of one of Australia’s biggest networks says solar, battery storage and micro grids means the business models of centralised generators and retailers will be made redundant. In other words, no long term future for Origin, AGL or EnergyAustralia. The future is local, and that is bad news for coal, gas and nuclear.
Origin Energy says its solar PV business is contracting, but is more profitable. It is focusing most of its renewable energy investments overseas.
Grant King’s new attack on renewables – and the carbon price – was expected by most in the industry. It underlines the fear that Australia’s utilities are not ready to evolve, unless there is strong political leadership. Sadly, there is not much chance of that.
Origin Energy is still unhappy about the CCA ruling on the renewable energy target, and the issue of cost. In the meantime, its earnings suffer from falling demand – the result of intense competition and the impact of solar PV – while its full-year profits will be hit further by the impact of hot weather in January, when everyone switched on the air-con.
Origin Energy ends R&D on Sliver solar technology, but says profits from Australian PV business rebounds despite fall in installations.
As predicted, Origin Energy is using the reduced electricity demand forecasts for a new assault on the renewable energy target, and green energy schemes in Australia are now under attack at both utility scale and on the rooftop. But is the scale of the RET actually up for review?
Origin Energy considers writing off its $134m investment in Sliver PV technology, after closing US-based Transform Solar plant.