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.
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.
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.
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.
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.
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.
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.
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.
The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.