Policy

Hydrogen is the word on everyone’s lips as the Federal Government champions hubs of no particular colour. Seasoned clean players such as Energy Estate are identifying greenfield opportunities for renewable energy and industry to meet.

Thinking backwards from demand for green hydrogen, the Smart Energy Council identified that investors and customers will have to be able to trust the integrity of the product. Its world-first verification scheme, launched in late 2020 is gaining international traction.

Opposition Leader Anthony Albanese has outlined his plan for Australia to “emerge as a renewable energy superpower,” underwritten by a $100 million initiative to fund apprenticeships in new energy jobs including solar, large-scale renewable projects, green hydrogen and renewable manufacturing.

With South Africa holding 63,000 of the world’s estimated 69,000 metric tons of platinum reserves – according to the Statista.com website – and Russia and Zimbabwe a further 5,100 between them, the European Commission has cited the metal as an example of a potential supply chain bottleneck that could handicap its grand plans for renewables-powered hydrogen production.

Treasurer Josh Frydenberg has unveiled a big-spending Budget but critics have been quick to condemn the lack of money set aside for renewable energy as a “national shame” and missed opportunity as the government continues to pursue its gas-led philosophy.

Based on current market prices, the five-year contract could be worth almost $4 billion to the $1 billion company, but the TOPCon manufacturer has not publicised the price at which it will supply and install modules for its state-owned sponsor.

Queensland is likely to join Victoria in dissension on the Australian Energy Market Commission’s draft determination which is being called a tax on solar. The Queensland Energy Minister, Mick de Brenni, has criticised the plan. Could this be the domino which brings the other states and territories falling into place against a rule change?

While Treasurer Josh Frydenberg is putting the finishing touches on the Federal Budget, the Northern Territory Government has already rolled out its 2021-22 Budget and solar PV and battery storage are among its spending priorities with an extra $4.8 million invested in existing renewable energy schemes.

More than 100 Australian businesses, including some of the country’s largest, have banded together to put pressure on government to commit at least 1% of GDP to a green energy recovery in the May budget and to ensure a more equitable transition to renewables for marginalised Australians.

A clean energy investment firm based in Canada but already with a growing portfolio in Australia has set out an expansion plan in excess of $2 billion and 1.3 GW for the creation of a Renewable Energy Hub of South Australia, including at least three massive solar projects, two of which would supply South Australia’s green hydrogen ambitions.