Markets

Australia needs to inspire a $421 billion (USD 282 billion) investment, accelerate coal closures and significantly speed up our renewable rollout to realise 1.5°C Paris agreement climate targets, according to modelling from an investor group.

The Albanese government’s National Electric Vehicle (EV) Strategy includes just five new initiatives, four of which are still in the “development” or “preparation” stages. While there is a general sentiment the 56-page strategy is ‘a step in the right direction,’ numerous stakeholders have already pointed to its glaring omissions. 

Industry peak body the Clean Energy Council has arrived at a starkly different conclusion about Australia’s large-scale renewable segment in 2023 compared to independent analyst Sunwiz. In its latest report, it hails the number of utility projects under construction and is highly optimistic about the segment’s prospects.

Finance consultancy explains in a new report that the levelised cost of green hydrogen (LCOH) is well below USD 2/kg with subsidies. Using either PEM and alkaline electrolysers, green hydrogen normally has a lower levelised cost than pink hydrogen. Meanwhile, Australian authorities are trying to increase the competitiveness of the local hydrogen sector, and car companies are updating their fuel cell plans.

Australia’s transition to clean, renewable energy has reached a major milestone with AGL today commencing the process of shutting down the last of three coal-fired generating units still operating at its Liddell power station in New South Wales as it prepares to completely close the facility before the end of the month.

Cannabis prohibition drove a culture of clandestine production in the past and solar helped growers to cultivate it at remote, off-grid sites. Now, as a global commercial cannabis market emerges, solar has an even bigger role to play, reports Blake Matich.

The federal government is increasing its investment in green hydrogen and low-emissions steel with $50 million in research and development funding to help progress the technologies as a new report warns that Australia must act quickly or risk being left behind in the race to become a renewable energy superpower.

TrendForce has ranked the top six module manufacturers by shipment volume in 2022, with Longi topping the list, followed by Trina Solar and JinkoSolar. JA Solar, Canadian Solar, and Risen Energy rounded out the top six, in a year dominated by large-format modules.

South Australian technology company EntX has been granted a license to explore salt deposits along the western side of the Eyre Peninsula in South Australia for the purpose of hydrogen storage.

Canadian-headquartered clean energy firm Amp Energy has secured the rights to develop a green hydrogen project with up to 5 GW of electrolyser capacity on the Eyre Peninsula in South Australia. Amp has signed an agreement with iron ore miner Iron Road which owns the coastal site, including the Cape Hardy Port Precinct.