Markets

In the world of renewable energy, the past carries charge. It can be an anchor, a learning curve, a hurdle. In Bundaberg, it’s quite literally the fuel for the future. And that green future is being energised by an unusual crew: its local government.

Such a decision, which industry body the CPIA is adamant has already been announced, could make all the difference to investors struggling with a surge in equipment costs fuelled by the polysilicon shortage. The all-important National Energy Administration, however, has yet to confirm whether the CPIA’s interpretation is correct.

REN21 today published its Renewables 2021 Global Status Report, finding the share of fossil fuels in the global energy mix remains virtually unchanged from a decade ago, even as renewables are installed at record pace.

Australian financial group Macquarie Asset Management on Monday announced a €90 million (AU$141.5 million) debt investment in a portfolio of concentrated solar power (CSP) plants in southern Spain.

Alliances with Germany and Japan to develop and commercialise emissions-reducing technologies would be a coup for Australia, if there were any concerted efforts at home to reduce emissions in line with international initiatives, and transition Australian industries to be competitive in a carbon-pricing world.

Since July 2020, the PV industry has been experiencing price rises, which have affected almost all the components in a solar system. As these price increases spill out into higher installation costs, we see end user prices for solar rising for the first time in 10 years, threatening the competitiveness of PV in certain markets. Vincent Shaw reports from Shanghai on solar manufacturing’s supply chain crisis.

Australia’s success with widespread residential take-up of solar PV installations may be facing a stumbling block, a new proposal by the Australian Energy Market Commission (AEMC), the rule maker of the nation’s grid. And for solar veterans, the development summons the ghoul of Spain’s infamous “sun tax.”

Australia’s national science agency, the CSIRO, and the Australian Energy Market Operator have found even when factoring in additional ‘integration’ costs such as storage and new transmission infrastructure, solar and wind continue to be the cheapest sources of new-build electricity generation in Australia.

Global Energy Ventures, the firm currently working on a 2,000t hydrogen cargo ship, has announced the commencement of construction on a 430t pilot-scale version to service the emerging market for economies wanting begin blending small amounts of green hydrogen into existing gas networks by mid-2020s.

Commodity trader Trafigura and Oslo-based ammonia leader Yara International ASA have signed a Memorandum of Understanding that will see supply of clean ammonia as well as joint R&D projects as the two companies look to promote clean ammonia as a shipping fuel and develop its value chain and infrastructure.