Finance

Analyzing its fleet of solar sites, Solar Analytics has found that energy consumption in households due to Covid-19 confinement is up only slightly, if at all. While this is good news, the great news is that the onsite consumption of free solar power in these households is up significantly.

In the five weeks between subsidy step-down being announced and implemented under the $100 million Home Battery Scheme, more than 5,000 subsidies were approved.

The Covid-19 pandemic will create a “perfect storm” for the wholesale electricity market as lower demand comes together with lower gas prices and large-scale solar and wind being commissioned to depress power prices, finds a report by Melbourne-based consultancy RepuTex.

The pandemic will postpone or cancel the financial close of some 3 GW of solar and wind in Australia, according to Norwegian consultancy Rystad Energy, as the falling Australian dollar renders projects uneconomical. The biggest loser among the states will be New South Wales.

To achieve the goal of ‘H2 under $2’, ARENA has opened the $70 million Renewable Hydrogen Deployment Funding Round for expression of interest from large scale renewable hydrogen projects.

The Sustainable Australia Fund is launching special financing terms for the solar industry to mediate the impact of Covid-19. The terms seek to put immediate cash savings in the hands of businesses.

What makes this contract different is it covers only the high-demand hours when rooftop PV output is low, opening new markets for on-demand energy resources, such as battery storage. This and other standardized hedge contracts designed for clean energy technologies are hosted on Renewable Energy Hub’s digital firming marketplace.

Rio Tinto Chairman Simon Thompson is urging governments to take “urgent” action on climate change despite the twin evils of Covid-19 and economic recession. The call comes amid criticism that Rio Tinto’s own emissions reductions schemes are too weak.

The Clean Energy Finance Corporation along with its partners has released an Issues Paper on the halting state of Australia’s infrastructural development. The paper highlights the nation’s short-sighted infrastructural projects and their weight upon the energy transition.

With 4.4 GW of new renewable energy capacity installed and almost a quarter of Australia’s electricity supply now coming from renewable energy sources, 2019 was another year of extraordinary growth, according to the latest edition of the Clean Energy Australia report. As rooftop solar continued its record-breaking streak, big PV made up more than two-thirds of Australia’s large-scale renewable energy capacity installed last year. Meanwhile, the battery storage sector started to gain momentum.