Markets

A couple of weeks ago, Goldman Sachs sent shockwaves through battery metals markets, issuing a prediction that cobalt and lithium in particular were due for a sharp price decline in the next two years. But London-based Benchmark Mineral Intelligence is loudly pushing back, outlining its reasons why it believes the call on lithium was wrong. Meanwhile, US analyst Wood Mackenzie says that the battery raw material chain will remain tight, but notes that recycling could help to ease the supply deficit.

In many parts of the world, project developers and owners are increasingly looking to floating PV as the next long-term growth market in utility-scale solar. Gian Schelling, global business development manager for Hitachi Energy, says that PV-on-water can rise above the current challenges it faces by drawing on the lessons learned from offshore wind development.

Australian energy giant AGL Energy has announced its leadership of a consortium of industry partners for a feasibility study into whether its Torrens Island facility can become a green hydrogen hub for domestic users and export.

New South Wales Energy Minister Matt Kean said the state government is unlikely to use new emergency powers granted to ensure energy supply is maintained after the market operator advised conditions in the grid were improving.

Jolywood has cancelled a plan to invest in solar cell and panel production in Indonesia, while Hangzhou First Applied Material has said that it will invest US$226 million (AU$324 million) in the expansion of its EVA film output capacity.

Longi Solar has secured about 1 GW of new PV module supply orders in Bangladesh.

Australia’s energy crisis affords it an intricate, if painful, look at exactly where and how our current electricity regulations no longer fit their purpose. According to analyst Gavin Dufty, now is the time to retrain our eyes on the prize: designing a new framework suitable for the future decentralised system. “But everybody needs to put their guns back in their holsters,” Dufty tells pv magazine Australia.

The Federal Energy Minister insists the Australian Energy Market Operator’s market intervention demonstrates that it is “more important than ever to manage the transition and get more energy into the system and more storage and transmission”.

The Tasmanian government is calling for registrations of interest from developers of new large-scale renewable generators and energy storage projects, and existing and proposed energy intensive load projects to participate in shaping the state’s first renewable energy zone.

The Australian Energy Market Operator (AEMO) this afternoon suspended the electricity wholesale spot market in all five of the participating National Electricity Market states, saying it has become “impossible” to operate.