Markets & Policy

An international group of researchers has calculated the potential for floating solar across the world. The results show a generation potential of 9,434 TWh per year across 114,555 global reservoirs, with 30% of their area covered. The United States leads with 1,911 TWh per year of potential, with Australia coming in 8th, with 210 TWh per year.

The state-owned oil and gas major targets 200 GW of renewable energy capacity by 2050. It also plans to have around 2 million metric tonnes of green hydrogen capacity in its fold by 2050.

Access to extremely detailed consumer energy data is becoming available in Australia part of the federal government’s Consumer Data Right scheme. Used imaginatively, the data has the potential to improve how investment decisions are made, and could even open up new approaches to energy retailing, Stuart Low, founder of Biza tells pv magazine Australia.

Following consultations with industry stakeholders, Australia’s Clean Energy Regulator will open an application process to decide which organisation will list approved solar panel and inverter equipment lists in future, part of a major overhaul to the industry.

Canadian investment giant Brookfield will acquire the remaining 50% stake in Spain-based renewables developer X-Elio from its joint venture partner, investment firm KKR. X-Elio has more than 500 MW of projects in development in Australia and the move from Brookfield, which is also currently looking to takeover Origin Energy, a major Australian “gentailer,” extends the ambitious company’s hold in Australia.

The Australian energy grid is on the cusp of a big bang moment. The combination of market factors and situations we’re currently seeing will lead to a thrust of innovation. Renewable energy and smart devices are here to push forward the way we consume energy and drive a change for the better of our energy bills and for the environment.

PV Expo and the wider Smart Energy Week wrapped up in Tokyo last week. It revealed ambitious plans for solar and energy storage installations in Japan, including creative approaches to dealing with a severe lack of space for new installations, which should bring plenty of opportunities for domestic and international players.

India’s Ministry of New & Renewable Energy has exempted solar projects from domestic content requirements if they are commissioned by March 31, 2024. The move provides developers with the flexibility to source modules at more cost-competitive rates, according to Indian ratings agency ICRA.

Queensland is continuing its rollout of publicly-owned batteries, announcing the town of Emerald in its Central Highlands Region will soon host a 4 MW / 8 MWh battery. While the announcement doesn’t make reference to buzz term ‘community batteries,’ it seems the state is effectively rolling out a storage fleet to deliver on the promises of the concept.

New investment in solar and wind hit a record 7.1 GW in Australia in 2022, with the Clean Energy Regulator reporting a 50% increase in large-scale projects reaching final investment decision compared to 2021. In total, 5.3 GW of new renewable energy capacity was added to the grid in 2022, according to the Regulator’s State of Renewables report.