Markets & Policy

The International Renewable Energy Agency has released new data on the cost of capital for solar PV, onshore and offshore wind in the period between 2020 and 2021. Results show that Australia has the second lowest cost of capital in the Asia Pacific region at 4.6%, beaten out by China at 3.9%.

Australia’s energy minister has revealed the upcoming Federal Budget will include support for a new revenue underwriting mechanism that is expected to unlock billions of dollars of renewable energy investment and “gigawatts of power” to support the ongoing decarbonisation of the grid.

The International Energy Agency expects Australia’s “outstanding” economic fundamentals for residential and commercial rooftop solar will see the sector stabilise in 2023 after a new report revealed the PV market contracted in 2022.

An international research team has presented all possible system designs and applications for photovoltaic-thermal (PVT) technology. Their review includes conventional PV-T collectors, air-based systems, liquid-based installations, water-based collectors, refrigerant-based systems, heat-pipe-based technologies, dual air-water systems, building-integrated PVT arrays, and concentrated PVT collectors.

The beleaguered Snowy 2.0 pumped hydro project has been hit with fresh construction delays and added cost blowouts with concerns the multi-billion-dollar project may now not reach full commercial operation until late 2029.

The successful projects from the first tender conducted under the New South Wales government’s Electricity Infrastructure Roadmap have been announced with two large solar farms, a wind farm and an eight-hour battery energy storage system to be built as the state looks to manage the exit of coal-fired power generation from the grid.

Almost four million small and medium-size businesses are set to share in more than $300 million (USD 199 million) in tax cuts with the federal government announcing a new initiative for Australian businesses that invest in electrification and more sustainable and efficient energy systems, including solar and battery energy storage.

Swiss solar module maker Meyer Burger plans to grab a share of the booming Australian PV market, announcing it will start selling a series of high-performance solar panels that the company says deliver higher energy yields when compared to conventional technologies.

Record solar generation from both large-scale and rooftop PV is driving down the wholesale cost of energy, helping set new records for minimum demand for electricity from the grid and reducing emissions to record lows according to new data provided by the Australian Energy Market Operator.

The Victorian government has launched a market search for what is to be the first large-scale renewable energy project to be developed under the resurrected State Electricity Commission that will invest an initial $1 billion towards delivering 4.5 GW of renewable energy capacity.