Markets & Policy

In a new weekly update for pv magazine, OPIS, a Dow Jones company, provides a quick look at the main price trends in the global PV industry.

The Queensland government has indicated it will support the increased rollout of household battery energy storage systems with a new $24 million (USD 15.75 million) residential battery rebate program set to be launched in 2024.

Western Australian government-owned utility Synergy’s plan to build a 500 MW/2,000 MWh battery energy storage system in the state’s southwest to improve system security and support increased renewable energy generation in the main grid has been given the tick of approval by planning authorities.

Australian solar thermal specialist Vast Renewables will look to accelerate the development of its concentrated solar power technology after securing a $16.37 million (€10 million) capital commitment from French energy giant EDF Renewables.

A report from Ernst & Young shows that despite inflationary pressures, solar remains the cheapest source of new-build electricity. The global weighted average levelised cost of electricity for PV is now 29% lower than the cheapest fossil fuel alternative.

Australia is geologically equipped to become a battery critical-minerals hub but the nation is stumbling upon sticky structural issues. Sensitive diplomatic and trade ties, delicate forests and ecosystems, and a devotion to free markets and small government are among the major hurdles, writes Bella Peacock.

Canadian firm Hydrostor has struck a deal to provide back-up power to the remote New South Wales outback town of Broken Hill using a compressed air energy storage plant that will be built in an underground cavern at one of the region’s closed mines.

Australian commercial solar outfit CleanPeak Energy will deliver at least four new solar farms in regional New South Wales after striking a green energy deal with the state government that will ensure the long-term carbon neutrality of Sydney’s Barangaroo precinct.

A “major influx” of new renewable generation and storage capacity is poised to connect to Australia’s main grid with the energy market operator revealing almost 150 projects representing more than 31 GW of new capacity are in the application and pre-registration stages.

Australia’s largest electricity transmission project has hit a snag with a major union alleging transmission line workers delivering the New South Wales stretch of the $2 billion-plus (USD 1.32 billion) Project EnergyConnect electricity interconnector have been working in unsafe and non-compliant conditions.