Markets

According to the latest market forecast published by Wood Mackenzie, it seems that global PV installation figures will rise to 125 GW per year from 2020. Continued global capacity expansion will come in through a growing gigawatts-club.

The Clean Energy Regulator (CER) released its 2018 Administrative Report on Thursday, and not only does it predict that Australia will easily meet its 2020 Large-scale Renewable Energy Target (RET), but that the target will be exceeded substantially. Moreover, in the last year commercial factors overtook government incentives as the main driver of renewable investment – a watershed moment and one in which commercial and industrial solar arrays is playing no small role.  

The South Australian government is looking to extend its Home Battery Scheme subsidy of up to $6000 and low interest loans to rental properties, property developers and aged care facilities.

Study claims that investment in a new 1GW nuclear power plant leads to average losses of approximately 4.8 billion euros. It further argues that the technology’s dangerous radioactivity emissions and proliferation risks do not qualify it as a ‘clean’ energy solution to be considered for addressing climate change. Yet still, governments are incorporating the technology into clean energy plans around the world.

The Queensland government’s reverse auction got a step closer with the announcement of 10 shortlisted renewable energy proponents as it seeks to bring up another 400 MW of solar and wind energy and battery storage into the market.

With the approval for a 176 MW solar farm and 66 MW battery storage facility near Murray Bridge, South Australia’s utility-scale wind and solar pipeline has reached some 10 GW.

As it continues to drive renewables and energy storage, the South Australian government has given its tick of approval for the 280 MW Bungama Solar Farm coupled with a 140MW/560MWh battery storage facility proposed by EPS Energy.

The Northern Territory has given major project status to an ambitious plan to develop a 10 GW solar farm coupled with a 20-30 GWh storage facility near Tennant Creek and export solar power harvested in the Australian desert to Singapore via subsea cables.

The Australian Energy Market Operator (AEMO) has laid out a $370 million plan for network upgrades in Western Victoria which would deliver almost double the benefit to both energy consumers and energy producers. However, the proposal has provoked federal Energy Minister Angus Taylor’s attack on the state’s renewable energy target.

With 128 MWp, Numurkah is the largest operating solar farm in Victoria. The project developed by French renewable energy producer Neoen has a major supply contract secured with the Laverton Steelworks and is one of two solar farms supplying 100% renewable energy to offset Melbourne’s entire tram network.