Fracking to help fund WA’s Clean Energy Future Fund
WA’s McGowan Government has set up a $9 million Clean Energy Future Fund which it will top up with the royalties of ‘unconventional onshore oil and gas projects’, a euphemism for fracking.
Solar buyback trend continues
In the face of the Covid-19 economic crisis, companies and investment firms are looking to buyback existing solar systems from businesses in exchange for ready cash and decent terms.
LCOE from large scale PV fell 4% to $50 per megawatt-hour in six months
Analysts at Bloomberg New Energy Finance say the lowest-cost projects financed in Australia, China, Chile and the UAE in the last six months hit a levelized cost of energy of just $23-29/MWh and the best solar and wind projects will produce electricity for less than $20/MWh by 2030.
AEMO: The grid can handle 75% renewables by 2025
The Australian Energy Market Operator (AEMO) has found that the country already has the technical capability to safely operate a system where three-quarters of electricity comes from wind and solar. However, to do so it needs to get regulations right.
Despite solar woes, Tesla recorded its first profitable Q1
Tesla finished the first quarter of 2020 with a positive GAAP net income, driven by the profitability of the Model Y. However, the story was not so bright for solar, storage or corporate governance.
“Queenslander!” call to fight new coal investment
A new poll of 1000 Queenslanders has found strong support for the State to invest in renewable energy and a concordant distaste for coal. The results come amid political debate as to the viability of a new coal-fired power station in North Queensland.
Australia’s biggest green hydrogen plant secures initial investment
The Arrowsmith Hydrogen plant is the first of many green hydrogen projects across Western Australia being developed by Perth-based company Infinite Blue Energy.
Diamond bright, QUT researchers shine light on energy storage solution
Researchers at the Queensland University of Technology have proposed a new design of a diamond nanothread bundle that could found a new form of mechanical storage, which, pound-for-pound, is three times more powerful than lithium-ion batteries.
AER’s final approval takes QNI to shovel-ready status
The Australian Energy Regulator has approved the final phase of the Queensland – New South Wales Interconnector upgrades. TransGrid and Powerlink are now ready to begin civil construction in the coming weeks.
NSW government to fast-track approvals for Snowy 2.0 project
In a bid to boost the state’s economy and create jobs amid the Covid-19 crisis, the New South Wales government will accelerate the assessment of 24 projects, including the $4.6 billion Snowy 2.0 pumped hydro storage project.
