Finance

While it has seen a major shift in business and the financial markets with industry seizing the opportunities offered by decarbonization, the Australian government’s green bank has reported a record year of investment in 2017-18 with a total of $2.3 billion allocated for clean energy projects. The CEFC expects to stay on this investment trajectory in the year ahead, signaling potential asset recycling.

Looking to set the direction for a smart energy future, the New South Wales government has launched the Emerging Energy Program. As part of the scheme, funding will be provided to support the commercialization of new low-emissions, large-scale power generation and storage projects, as well as underpin feasibility studies to help get new projects off the ground.

Origin Energy has won federal government funding for a feasibility assessment on plans to double the capacity of its Shoalhaven pumped hydro scheme in New South Wales and thus allow for greater storage of renewable energy.

The South Australian government has inaugurated its landmark $100 million Home Battery Scheme, which will subsidize the cost of buying a home energy storage system for up to 40,000 South Australian households. A nine-week priority period has been given to locally made battery systems, with Germany’s sonnen as the first provider to enjoy this benefit.

The Victorian government has allocated another $2 million in funding for Australia’s renewables-powered electric vehicle ultrafast charging stations, as the first charging site was unveiled at Euroa.

Despite political hurdles in key markets including China, India and Japan, Asia-Pacific remains highly active. This year, 59 GW of solar is expected to be installed and due to further system price declines, a phase-out of subsidy schemes can be offset.

Tesla energy storage deployments grew 18% and storage deployments grew 11%, as the EV + battery + solar company achieves its a long-awaited quarterly profit on the success of its Model 3.

Know for its blockchain-based P2P platform that allows energy trading between households, the Perth-based company is now launching a new token designed to provide retail investors with the opportunity to fund and generate revenue from shared renewable energy infrastructure.

Energy Minister Angus Taylor has said there are no plans to change the Small-scale Renewable Energy Scheme (SRES), despite the ACCC recommendations to wind it down nine years early.

A super-fast network being rolled out across Australia will allow drivers to charge their electric vehicles in just minutes, 15 times faster than typical domestic charging points which take hours. All the charging stations will be powered through the purchase of renewable energy or on-site solar.