Markets

Even though it is winter, solar capacity is now sufficiently large that it drove renewable energy’s share of the electricity market up above 30% in the middle of the day for 20 out of 30 days of June, finds Green Energy Markets.

After it deployed a record $1.3 billion into the clean energy sector in a 12-month period, the Clean Energy Finance Corporation said it will sharpen its focus on energy storage and other technologies to support the stability of the national grid.

A report released by the Future Fuels CRC (FFCRC) details the work of 19 separate hydrogen roadmaps from around the world, showing the focus and drive towards a hydrogen future. While in sync in terms of forecasts suggesting large scale and rapid deployment of hydrogen technologies is expected from around 2030 onwards, the roadmaps seem to have been developed in isolation from one another, the report finds.

The cost of solar power generation in India has fallen to half the level seen in many other markets in the region due to extensive solar resource, market scale and competition. In Australia, solar is expected to break through the coal-fired electricity price barrier next year, when its cost falls to US$48/MWh, WoodMac finds.

With miners around globe stepping up their production capacities to cater to the demand of the electro-mobility and energy storage sectors, supply has outpaced demand leading to a steep decline in lithium prices. Amid slowing growth in China, a number of Australian lithium miners are hurting.

South Australia’s virtual power plant is nearing the potential Phase 3, which could see 50,000 homes connected becoming the equivalent of a 250 MW network of decentralized power generating units.

As it transitions from a wind-dominated renewable energy mix to include a wider range of energy options such as large-scale PV, pumped hydro and battery storage projects, South Australia is considering new planning policies.

The Independent Planning Commission has approved a $94 million solar project near Gunnedah in New South Wales, under some added conditions.

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.