Markets & Policy

New products contribute to another record year for sustainable finance

BloombergNEF figures show financial vehicles linked to environmental and/or social benefits amounted to $247bn worldwide in 2018. The US led the way, almost entirely because state-backed mortgage provider Fannie Mae issued $19.8bn worth of green home loans.

How attacks on Australian renewables industry were foiled by Senate crossbench

A new report released by The Australia Institute reveals the Senate crossbench has safeguarded $23.4 billion worth of investment in renewable energy from 2013-2018, when it prevented the Coalition Government from abolishing the Clean Energy Finance Corporation, ARENA and slashing the Renewable Energy Target.

Wind, solar cheaper than coal, and responsible for falling energy price outlook

Major reports from Australia’s chief energy institutions point to the importance of wind and solar not just because of their climate credentials, but also the economic benefits they bring. A report from the energy market operator and the CSIRO finds based on analysis of LCOE that renewables are the cheapest new-built power. A separate report from the Australian Energy Market Commission shows that wind and solar will give a typical household a saving of $55 a year in next two years.

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COAG energy ministers backs development of national hydrogen strategy

The December meeting of the COAG Energy Council has grabbed headlines as NSW attempted to push for a zero-emissions policy only to be blocked by Federal Energy Minister Angus Taylor. But, in a rare substantive outcome of the meeting, the energy ministers agreed to develop a national hydrogen strategy.

140 MW solar farm approved for Mulwala, NSW

With NSW Energy Minister Don Harwin drawing a line on energy and climate policy between the state Liberals and the feds, the NSW government continues to pursue its renewables agenda waving through another large-scale solar project.

Genex Power partners with EnergyAustralia on Kidston solar-pumped hydro project

Sydney-based publicly listed Genex Power has signed an agreement with electricity provider EnergyAustralia to begin construction on the 250 MW pumped hydro project as part of the Kidston renewables hub in north Queensland. Genex is now looking to secure financing for a 270 MW solar component of the project.

Last man standing: Federal Energy Minister Angus Taylor called out even by NSW Libs

NSW Energy Minister Don Harwin is tentatively welcomed into the renewable-energy winners’ circle as an acrimonious COAG meeting shows the Federal Government ever more on the outer.

Victoria announces hydrogen program, community renewables grants

The Andrews Labor government is investing $2 million to boost the development of clean hydrogen energy technologies, and $1.1 million to support renewable energy projects in local communities across Victoria.

Solar not in COP24’s spotlight

As the dust settles on an imperfect, but still welcome, international agreement thrashed out at COP 24, the chairman of the European Energy Research Alliance has criticized the solar industry for its lack of representation in Katowice.

Santos to power oil well operations with solar+storage

In what is being billed as Australia’s first off-grid, 100% renewable energy project in the oil and gas sector, Santos will power 56 crude oil pumps into solar and battery storage. The project has won a grant from the Australian Renewable Energy Agency.

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