Markets & Policy

Major reports from Australia’s chief energy institutions point to the importance of wind and solar not just because of their climate credentials, but also the economic benefits they bring. A report from the energy market operator and the CSIRO finds based on analysis of LCOE that renewables are the cheapest new-built power. A separate report from the Australian Energy Market Commission shows that wind and solar will give a typical household a saving of $55 a year in next two years.

The December meeting of the COAG Energy Council has grabbed headlines as NSW attempted to push for a zero-emissions policy only to be blocked by Federal Energy Minister Angus Taylor. But, in a rare substantive outcome of the meeting, the energy ministers agreed to develop a national hydrogen strategy.

With NSW Energy Minister Don Harwin drawing a line on energy and climate policy between the state Liberals and the feds, the NSW government continues to pursue its renewables agenda waving through another large-scale solar project.

Sydney-based publicly listed Genex Power has signed an agreement with electricity provider EnergyAustralia to begin construction on the 250 MW pumped hydro project as part of the Kidston renewables hub in north Queensland. Genex is now looking to secure financing for a 270 MW solar component of the project.

NSW Energy Minister Don Harwin is tentatively welcomed into the renewable-energy winners’ circle as an acrimonious COAG meeting shows the Federal Government ever more on the outer.

The Andrews Labor government is investing $2 million to boost the development of clean hydrogen energy technologies, and $1.1 million to support renewable energy projects in local communities across Victoria.

As the dust settles on an imperfect, but still welcome, international agreement thrashed out at COP 24, the chairman of the European Energy Research Alliance has criticized the solar industry for its lack of representation in Katowice.

In what is being billed as Australia’s first off-grid, 100% renewable energy project in the oil and gas sector, Santos will power 56 crude oil pumps into solar and battery storage. The project has won a grant from the Australian Renewable Energy Agency.

A survey run by the Clean Energy Council among senior executives, leading with a combined net worth of more than $17 billion, shows that clean energy investment confidence is strong. The majority of companies are looking to put on extra staff in the next year. However, challenges in achieving project grid connection and policy uncertainty are causing great stress in the long run.

NSW’s University of Newcastle has signed a seven-year contract to cover 100% of its electricity needs across its Newcastle and Central Coast campuses with renewable energy, specifically a mix of solar, wind and hydro power.