Markets & Policy

The amount of large-scale solar capacity that commenced generation during the third quarter of 2018 was higher than the NEM’s entire large-scale solar capacity at the start of the year, reports the Australian Energy Market Operator (AEMO). In other news, Western Australia has pass the 1 GW solar milestone, while South Australia has seen record levels of curtailment.

Half of Victoria’s energy could come from renewable energy source, as the Labor government has vowed to expand the state’ renewable energy target from 40% in 2025 to 50% in 2030, if re-elected.

Victorian renters could be able to access rooftop solar power in a new scheme for renters unveiled by Labor leader Daniel Andrews and Lily D’Ambrosio. The announcement, made at Gippsland Solar in the LaTrobe Valley today, would provide $82 million in rebates over 10 years, targeting an initial 50,000 homes.

The new Democratic majority in the House will still need to deal with a Republican Senate and president, and is unlikely to take bold action.

Australia has slipped from fifth to sixth place in EY’s biannual RECAI, citing “political upheaval” and the appointment of Angus Taylor as federal energy minister. The 52nd edition of the index, released today, has seen little movement among the top 10 countries, with Germany, the UK and Australia all falling one position.

Bloomberg New Energy Finance has significantly increased its forecast for global deployment of behind-the-meter and grid-scale batteries from now to 2040. The research company sees Australia among nine markets that will be driving this trend, as the economic case for batteries becomes unstoppable.

Last December, the company’s CEO made a proposed transaction offer to acquire Canadian Solar. Mulling the offer, a special committee has now advised the company’s board to cease its review of the proposal, highlighting that it could not find sufficient certainty in the CEO’s ability to secure the funding for the transaction. Following the news today the CEO has withdrawn his offer.

Australia’s first community battery trial went live on Monday, after the 52 available spots had been snapped up by Mandurah households – three months ahead of schedule. The trial involves a bulk Tesla battery integrated into existing grid and owned and operated by Western Power and Synergy.

The New South Wales government has announced plans to install up to 900 batteries with a total capacity of 13 MW on hospital and schools that already have rooftop solar systems.

The government-owned energy provider has signed eight wind and solar PPAs to cover the shortfall in its existing energy generating capacity and put downward pressure on wholesale energy prices. Snowy Hydro says it will be able to offer firm supply contracts at less than $70/MWh, which undercuts the current wholesale price of electricity.