Policy

The Andrews Labor Government is delivering on last year’s election promise to boost renewable energy in Victoria and is seeking to legislate increasing its renewable energy target to 50% by 2030.

In anticipation of the Pacific Islands Forum (PIF) in Tuvalu this week Prime Minister Scott Morrison is set to announce $500 million in foreign aid to partnering Pacific nations in the form of a climate change and oceans funding package for renewable energy investment and climate resilience.

As another rally brings the voice of solar installers before Victorian lawmakers, signs are beginning to show that the pressure may be having an impact on the Andrews’ state government. The government has indicated that it may look to make changes to the plan – but whether that’s a result of installer pressure or public frustration is yet to be seen.

The Smart Energy Council has announced plans for a second rally to warn against the current Solar Homes scheme’s damaging effect on Victoria’s solar industry. This time, the protest will target Premier Daniel Andrews’ office.

With more than 50 GW of new wind and solar projects in the development pipeline, the Australian Energy Market Commission is looking to give developers more detailed and up-to-date information about new generation projects. The new draft rule may help businesses make better investment decisions on where to locate new generators and assess project viability.

The quota for rebates in the August round of the Solar Homes program has been snapped up in only 90 minutes. Solar Victoria reports there are “plenty of rebates still available” for rental solar grants, solar hot water and batteries – the latter in qualifying areas only. Industry bodies say that solar sector in “crisis”.

After it deployed a record $1.3 billion into the clean energy sector in a 12-month period, the Clean Energy Finance Corporation said it will sharpen its focus on energy storage and other technologies to support the stability of the national grid.

A report released by the Future Fuels CRC (FFCRC) details the work of 19 separate hydrogen roadmaps from around the world, showing the focus and drive towards a hydrogen future. While in sync in terms of forecasts suggesting large scale and rapid deployment of hydrogen technologies is expected from around 2030 onwards, the roadmaps seem to have been developed in isolation from one another, the report finds.

The cost of solar power generation in India has fallen to half the level seen in many other markets in the region due to extensive solar resource, market scale and competition. In Australia, solar is expected to break through the coal-fired electricity price barrier next year, when its cost falls to US$48/MWh, WoodMac finds.

With miners around globe stepping up their production capacities to cater to the demand of the electro-mobility and energy storage sectors, supply has outpaced demand leading to a steep decline in lithium prices. Amid slowing growth in China, a number of Australian lithium miners are hurting.