Markets & Policy

A new report from the Clean Energy Council confirms 2018 shattered all records in terms of investment in renewables and capacity additions. The CEC finds that more than 2.3 GW of new renewable energy projects were completed in 2018. Both large-scale and rooftop solar experienced their best ever year.

The Dutch banking group will serve as sole mandated lead arranger for the S$50 million loan. A unit of Singapore-based developer Sunseap will use the funds to build a 50 MW portfolio of rooftop PV projects.

One of the main pillars of the Coalition government’s climate policy, the $2 billion Climate Solutions Fund, has undergone unexpected changes in the final 2019 budget. While the government previously pledged to spend $2 billion over the next 10 years to help ensure Australia meets its emissions target under the Paris Agreement, the budget has revealed that the funding will be spread over 15 years, cutting the amount spent annually by more than 30%.

New global PV additions reached 94.2 GW in 2018, according to the International Renewable Energy Agency (IRENA). Asia is the region with the largest share of cumulative PV capacity, with around 274.6 GW, followed by Europe and North America with 119.3 GW and 55.3 GW, respectively.

In a briefing looking into the renewable energy investment boom, BIS Oxford Economics estimates solar and wind will attract $20 billion of private investment in FY18 and FY19, spread over more than 70 projects. The consultants warn investment will slow beyond 2020 pointing to the upcoming Federal election as critically important for the future of Australia’s renewables pipeline.

Following the decision to require retailers taking part in the Solar Homes program to be signatories to the Clean Energy Council’s Solar Retailer Code of Conduct, the Victorian government has set specific requirements for inverters that will be installed under the program.

A new major aspect of Labor’s climate policy announcement on Monday was a national electric vehicle (EV) target with half of the cars on the Australian roads to be electric by 2030, and fuel emissions standards for all vehicles.

Having observed early adopters negotiate renewable energy contracts for financial and sustainability gains, the next wave of Australia’s commercial and industrial energy consumers is ready for offtake. A raft of flexible new solar PV contract models and services is rising to meet their ambitions.

With solar panels already installed on dozens of its buildings, the City of Sydney has upped the ante with the goal to source 100% of its electricity needs from solar PV and wind. The commitment has been endorsed by Council this week, and a new 100% renewable electricity contract will be negotiated in the coming months.

The Norwegian solar panel manufacturer says Hanwha Q Cells did not provide full particulars of its allegations despite REC Group’s requests and went ahead to commence proceedings in the Federal Court of Australia.