World will need 5.2TW of solar this decade to avoid climate breakdown
The International Renewable Energy Agency’s latest global outlook has spelled out just how ‘woefully’ far the world is from capping temperature rises at 1.5C, and lamented: ‘The stimulus and recovery efforts associated with the pandemic have also proved a missed opportunity.’
Federal budget promises billions in election handouts, virtually nothing for renewables
Renewables, climate change mitigation, the energy transition and Australia’s economic future were all big losers in Tuesday’s 2022-2023 federal budget. Treasurer Josh Frydenberg’s budget not only fails to provide direct funding for renewable energy projects but actually continues cuts to important institutions, and moreover proves the Morrison government’s belated 2050 net zero emissions plan was merely lip service prior to last year’s COP26 climate summit in Glasgow.
Federal fossil supports grows to $10.5 in FY22 as own party rules ARENA changes illegal
A standing committee has blocked federal energy minister Angus Taylor’s longstanding attempts to allow ARENA to fund fossil fuel projects, finding it illegal. The ruling came on the same day new analysis found the Morrison government’s fossil fuel subsidies increased 12% in FY22, costing taxpayers a total of $10.5 billion.
NSW hydrogen hubs draw eight times more interest than expected
Traditionally one of the slower states to move away from fossil fuels, New South Wales is rapidly turning the tables – and the market is responding enthusiastically. The state government yesterday revealed it had received more than $4 billion worth of investment interest for its Hunter and Illawarra hydrogen hubs.
Territory government ramps up support for 20GW solar and battery project
The world’s largest solar PV and battery energy storage project has locked in renewed political support with the Northern Territory government confirming it will introduce special legislation into parliament this week that will facilitate the development of the giga-scale Australia-Asia PowerLink project.
Australia’s carbon market in disrepute, attacked from within and without
This week has been disastrous for Australia’s carbon market, with cascading criticisms of the federal government’s Emissions Reduction Fund coming to light, including the former chair of its integrity commission labelling it an “environmental and taxpayer fraud” and its own participants publishing an open letter to the minister saying its changes are jeopardising Australia’s pathway to net zero.
Power outages in WA may be a sign of what’s to come, independent review finds
The extensive power outages experienced in Western Australia last Christmas were a result of extreme weather rather than human failure, an independent review has found. The report’s author, AEMC’s Michelle Shepherd, notes such instances will likely become increasingly frequent with climate change.
New Zealand opens $9 million in funding for renewable projects for Māori housing
New Zealand’s federal government has opened the final funding round in its NZ$14 million (AU$13 million) Māori Housing Renewable Energy Fund, open to small and larger-scale projects.
Investment cycle means race is on to incentivise green hydrogen
A report published by IRENA hints the world’s politicians will have to get to work immediately to avoid another generation of fossil fuel-fired hydrogen, ammonia, and methanol plants being set up to run into the second half of the century.
Origin accelerates delivery of large-scale renewable energy strategy
Australia’s largest energy retailer Origin Energy has ramped up plans for the delivery of large-scale renewable energy projects as it prepares to replace the capacity set to be withdrawn from the grid with the impending closure of the nation’s biggest coal-fired power station.
