Markets & Policy

German industrial giant Siemens has partnered with Swinburne University of Technology to develop a future grid mapping “energy transition hub.” The project seeks to accelerate the transition to renewable energies by bringing research and industry together while also serving as a learning tool for Swinburne students.

SolarEdge’s revenue rose 58% year over year to USD 3.1 billion ($4.5 billion) in 2022. It expects revenues for the first quarter of 2023 to be within the range of $1.33 billion to $1.37 billion.

The Greens will back the government’s hallmark Safeguard Mechanism policy reforms, but only if the government agrees to a moratorium on new coal or gas projects. The Greens hold the balance of power on the policy’s fate and their resolution has sparked fears that Australia could see a repeat of the dreaded climate wars.

Australian concentrated solar thermal company Vast Solar has struck a deal with the world’s largest oil drilling contractor, Nabors Industries, announcing it will go public via the partnership and expects to list on the New York Stock Exchange midyear.

Western Australia-based Hybrid Systems Australia has commissioned 42 MW of interconnected battery storage for two Fortescue mine sites in the Pilbara region, noting the installation is one of the largest for a mining application.

Western Australia’s regional utility Horizon Power has installed a battery system in Exmouth on the state’s northern coast, unlocking 2 MW of solar hosting capacity. The installation is one of nine batteries being installed by the utility across the state and is arguably a more effective rendition of a “community battery.”

When US President Joe Biden signed the $500 billion (USD 369 billion) Inflation Reduction Act into law in August 2022, it was lauded as the most significant policy the world has yet seen to combat climate change and drive the transition to renewable energies. However, some international critics and competitors claim the landmark bill thwarts their slow-burning ambitions to foster green manufacturing at home. As governments scramble to respond to the scale of the IRA, Australia is one country realising it may have already been left behind.

In response to growing demand, Trina Solar has revealed plans to ramp up ingot capacity at a new factory in Xining, in China’s Qinghai province.

Wafer prices rose by between 24% and 36% this week, according to new data from the China Nonferrous Metals Industry Association (CNMIA).

If re-elected in March, the New South Wales Liberal and National coalition say they will fast track the rollout of public and private electric vehicle (EV) chargers by reforming strata and planning laws, and installing public facilities at transport hubs.