Markets

According to the latest statistics from the Clean Energy Council (CEC), there are 42 wind and solar projects totaling 6239 MW worth close to $10 billion currently in construction or due to start soon across Australia. The unprecedented large-scale renewables activity is, however, surrounded by growing uncertainty over future policy and regulatory change.

In its annual reports, the Australian Energy Market Commission has proposed a number of changes to tighten Australia’s power system and improve reliability and regulation, reflecting on opportunities and challenges created by a significant increase in the uptake of distributed energy resources. The new recommendations are likely to encourage network development towards P2P energy trading, VPPs and electric vehicle charging.

Having finalized the financing agreement for the project, French renewable energy producer Neoen announced that full construction on Victoria’ Numurkah Solar Farm is ready to commence this week, with major supply contracts previously secured for the Laverton steelworks and the Melbourne tram network.

The Australian Energy Market Operator’s wide-ranging and detailed Integrated System Plan prompted a flurry of media reactions that boil down to two conflicting interpretations of its purpose. Some interpreted the findings as a call to hold on tight to coal-fired power, while others a remarkable confirmation that renewables are the optimal electricity source of the future, and high penetrations are both practicable and cost effective.

In what analysts worldwide are sure to look back on as the last golden period for global solar – at least for the immediate future – China saw more impressive figures for PV manufacturing in the first half of the year. Then the government stepped in.

Green Energy Markets’ latest analysis shows that the National Electricity Market is on track to get 33% renewable electricity by 2020, with individual states performing well beyond that. In addition, the report shows that solar jobs will be lost unless the National Energy Guarantee’s 26% emissions reduction target by 2030 is lifted.

The U.S. state’s latest report shows that it has beat its 2020 target for emissions reductions four years early, mostly thanks to more renewable energy.

A new study finds that from 2013 through 2015, distributed PV reduced peak solar hour mean wholesale electricity prices by 8–9%, avoiding costs of US$650–730 million.

The extent of the rapid growth underway in the Australian PV market has been laid out in the latest report by the APVI. Pointing to 2018 representing “another record year for Australian PV” the outstanding growth of the utility scale segment is a particular highlight – with 1.1 GW commissioned and 1.9 GW under development.

While overall global investment in clean energy saw a decrease of just 1% YoY in the first half of 2018, solar’s share dropped 19% following changes to China’s PV policy and lower project costs, says Bloomberg NEF (BNEF). It forecasts this trend to continue throughout the year.