Oceania

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.

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.

Western Australian company Global Energy Ventures has had several permissions granted for its 2.8GW green hydrogen export project on the Tiwi Islands, off the coast of the Northern Territory, including potentially increasing the acreage for its proposed solar farm.

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.

Researchers from The University of Queensland have developed a new nanotechnology that they say more than doubles the lifespan of high-voltage lithium-ion batteries, paving the way for higher density and lower-cost energy storage solutions.

South Australia had a notable wind generation rate during the final quarter of 2021 with ~569MW of average wind generation, accounting for ~57% of total average generation of the state and it is still going strong in this quarter.

The New South Wales Government has outlined plans for another coordinated renewable energy zone which will deliver at least 2.5GW of new network capacity as the state’s transitions from fossil fuels towards renewable power accelerates.

Electric vehicle batteries are packed with energy, with additional battery density and efficiency working to quell range anxiety for drivers. But with that capability lingers a concern from some that EVs may pose a fire risk and a challenge for first responders in the event of accidents. Western Australia’s Professor Ray Wills from Future Smart Strategies bought his first EV in 2012 and argues that in terms of safety, EVs remain an easily superior vehicle, and even the tiny fire risk that exists is an ever-diminishing issue.

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.

The National Electricity Market has always been a place of big data and high levels of automation, and the recent developments in the trading space are the next stage of that maturing.