Markets & Policy

There is already enough renewable energy projects under construction or generating to meet the Renewable Energy Target (RET). The Clean Energy Regulator officially confirmed today that the RET would be met, making a mockery of claims by former Environment Minister Greg Hunt that it was “simply not possible” to meet the original RET.

A new partnership is looking to introduce 10-year solar leases to WA. By targeting new builds and housing developments and halving the standard lease duration, the partnership aims to make solar leases attractive – where previously they have failed to gain traction.

The California Energy Commission is expected to approve the 2019 Building Energy Code that calls for solar PV on all new homes. The goal is net zero residential energy usage.

The evolving outlook for project finance, as well as the gradual maturation of technologies, such as blockchain, present new challenges and opportunities for renewables, EY says in its latest Renewable Energy Country Attractiveness Index (RECAI) report. Uncertainty in the sector continues to drive a “relentless focus on cost” to soften the impact of protectionism, subsidy cuts and rising interest rates throughout the world, it adds.

Bringing electricity demand closer into line with supply will be one of the keys if Australia is to meet the disruptive challenges facing its market, and it’s an approach that could restore the country’s role as an energy leader. A steep challenge but optimistic outlook was offered by AEMO CEO Aubrey Zibelman in a wide-ranging address earlier this week.

Perth-based peer-to-peer (P2P) energy pioneer Power Ledger will partner with Kansai Electric Power Company (KEPCO) to trial its blockchain-enabled platform. The limited trial will first involve only 10 homes in Osaka, however, Power Ledger says that Japan is an excellent fit for P2P energy trading.

Work on the National Energy Guarantee (NEG) policy will continue, with the COAG Energy Council approving its progress today. The detailed policy will be considered by state, federal and territory energy ministers for final approval in August.

Signs continue to mount that Friday’s COAG Energy Council meeting will agree to move forward with the National Energy Guarantee mechanism. This comes despite continuing and serious objections from some states to the meagre 26%-on-2005 emission reduction target.

David Blowers, an Energy Fellow with the Grattan Institute, reports that “solid progress” has been made on the design of the National Energy Guarantee.

The CEC has encouraged COAG Energy Council to support the further development of the proposed National Energy Guarantee (NEG) in its meeting on Friday. The peak renewables body’s support, however, is contingent on the policy being fleshed out, “and [it] addressing concerns in relation to the emissions target.”