Markets & Policy

Studies, reports and data continue to pile up, showing Australia is falling behind its international climate commitments. What is more, the nation is on track to become a global emissions superpower, and could be responsible for up to 17% of global emissions by 2030, according to new research. Another report shows Australia’s greenhouse gas emissions surged again in the first quarter of 2019 as the downward trend in the electricity sector reversed and fugitive emissions from the LNG industry reached record high.

China’s slowdown in installations last year was more than made up for by expansion elsewhere, according to IHS Markit. The news comes amid increasing market fragmentation – with the biggest engineering, procurement and construction business boasting less than 3% market share – and internationalization, with almost half of the top 15 companies operating across more than one region.

Applications are now open for the Queensland government’s $15 million Hydrogen Industry Development Fund, which will support sustainable and renewable hydrogen projects across the state.

As one of the most energy-intensive industries, the resource sector is getting serious about integrating cheap wind and solar energy into its mix to boost bottom lines. Although still predominantly underpinned by gas or diesel, mine operations are increasingly deploying hybrid solutions pointing to the potential of the sector transitioning to 100% renewables – particularly as momentum builds for green hydrogen to play a role in future microgrids.

Octopus Energy Investments, the UK’s largest investor in utility scale solar, which set up an office in Melbourne last year, has rebranded itself as Octopus Renewables as the £3 billion (AU$5.3 billion) global fund manager looks to throw its considerable weight behind the global energy transition to renewables.

EnergyAustralia has acquired a 49% stake in the Echo Group of companies which tailors energy efficiency solutions and solar installations for commercial and industrial energy consumers.

The energy transition is accelerating, Ernst & Young global energy leader Benoit Laclau has warned grid operators, thanks to the confluence of digitization, decentralization and decarbonization. Traditional utilities must get with the program or be swept aside.

The first phase of a 6 MW solar array planned to power a former car manufacturing site at Tonsley in Adelaide will be delivered by ZEN Energy. The solar installation will ultimately work in conjunction with on-site battery storage and smart technologies as part of Enwave Australia’s Tonsley District Energy Scheme.

Norwegian consultancy Rystad Energy has placed Australian and Vietnamese solar markets side by side and found the Southeast Asian country has left Australia behind in terms of commissioned utility-scale PV capacity. A staggering 4,460 MW of connected PV capacity in Vietnam at the end of June came as a surprise to many.

The July quota for solar PV rebates under Victoria’s Solar Homes program has been filled within days. The next release will be available in August.