Markets

The COAG Energy Council’s plan to unlock Australia’s potential to reindustrialise its energy system has taken another step forward with the publishing of an Energy Security Board consultation paper. The paper discusses what the two-sided market required to free up the potential of household energy technology will look like.

With more than half of its electricity already supplied by wind and solar, South Australia is setting the bar high for how to efficiently decarbonize the grid. As it moves toward its 2030 target of “net” 100% renewables, the speed of the state’s energy transition will depend on a host of factors.

Rystad Energy’s analysis of the Australian National Electricity Market over the month of March revealed 25% generation from renewable sources as large-scale solar powers ahead.

The City of Ryde has decided to adjust its ambitions from a 60% renewable energy target by 2030 to a 100% renewable energy target.

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.

A study by Solarpower Europe and LUT: Three different cases for the transformation of the European energy system were examined in this study. The more ambitious scenario with 100% renewable energy and a high proportion of PV might be cheaper than less ambitious paths to a green Europe.

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.

The patentability of Korean company Hanwha’s technology is being examined by a U.S. commission, according to Jinko. The Chinese manufacturer said it expects a final decision by December.