With Australia’s target of a 43% emissions reduction by 2030, and similar targets from nations across Europe, Asia, and the Americas, solar projects are set to soar in 2023 and beyond.
Australia’s energy ministers have unanimously agreed to establish a capacity investment mechanism that they anticipate will unleash at least $10 billion (USD 6.7 billion) worth of investment and at least 6 GW of renewable energy generation and storage to stabilise the grid as the nation’s ageing coal-fired power plants exit the energy market.
Analysts study lab-to-market pathways for clean energy technologies including a look at the development of First Solar’s cadmium-telluride thin film solar modules.
The renewable energy sector (solar and wind) recorded project finance deals worth INR 33,893 crore ($6,832 million) in 2021. No new project finance for coal was reported.
Construction has officially commenced on Western Australia’s first pumped hydro project but the state government has indicated it won’t be the last, hinting that the 1.5 MW renewables microgrid being built at Walpole could serve as a blueprint for the roll out of similar projects both nationally and overseas.
Researchers from the University of Sydney have created a new sodium-sulphur battery which they say provides four times the energy capacity of lithium-ion batteries and is far cheaper to produce, providing the potential to dramatically reduce energy storage costs.
Chinese PV technology manufacturer Trina Solar has launched an upgraded version of its Vertex S All Black module featuring an increased output of about 30 W hoping to capture a significant portion of Australia’s growing residential and commercial solar market.
French renewable energy giant Neoen has secured development approval to build a 1 GW /4 GWh big battery in Western Australia as the state government seeks to ramp up energy storage capacity to support its planned transition from coal-fired power to renewables.
The International Energy Agency says that it expects the use of renewables to support global hydrogen production to surge over the next five years. The Netherlands and Denmark, meanwhile, have revealed plans to expand electrolysis capacity.
South Korean steel producer Posco Group will invest $60 billion (USD 40b) in Australia by 2040 across the green steel supply chain, including in renewable generation, electrolysis and steel making processes.
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