Media

This week, the global climate movement is in mourning. Under Trump’s reign of executive orders, not only has the US out of the Paris Agreement, but they’ve bulldozed a $300bln wind energy project pipeline and promised to desecrate the incredible climate progress under the IRA. Already, sceptical commentators are calling on Australia’s political contenders to follow suit, abandon climate concerns and double down on ‘bread and butter’ issues ahead of this election. But what they fail to realise, is the incredible opportunity this now presents for Australia. Read more

Excerpt from CEF Director Tim Buckley’s interview with Xinhua News about China’s leadership in the global energy transition Read more

On his first day back in the White House, President Donald Trump wasted no time dismantling his predecessor’s climate policies and promising a new era of fossil-fuel dominance. As promised, Trump withdrew the United States from the Paris Climate Agreement, one of dozens of executive orders he signed in the hours after being inaugurated as the 47th president. Under Trump’s marker, the fossil fuel industry was promised new horizons and renewable energy industries were put in the back seat of the American economy. While it’s still not clear how many of these decrees will pan out as Trump intends, the consequences are likely to be felt across the world. Read more

The suspension of the group came just days after its biggest member, BlackRock, said it would quit the organisation. In a letter to its clients, the New York-headquartered asset management giant said membership of the net zero initiative had “caused confusion regarding BlackRock’s practices and subjected us to legal inquiries from various public officials”. Read more

While Xi’s Communist Party won’t be rushed as it transitions China’s electricity network, it sees a huge opportunity in the global shift. “China wants to dominate the industries of the future,” says Tim Buckley, the Sydney-based head of Climate Energy Finance, a clean energy think tank. In sector after sector from wind farms to solar panels to battery storage to the rollout of new fourth-generation nuclear power technology, China now leads the world. “I have been watching China for 15 years and they’ve exceeded every expectation I had in terms of their investment and the longevity of their strategic thinking,” says Buckley, who used to be the head of research at Citigroup’s Australian hub. Read more

Tim Buckley, founder and director of Climate Energy Finance, said Australia had clearly seen significant uncertainty in the development of offshore wind, where the Coalition’s overt opposition had undermined momentum. But he said the economics of offshore wind had also taken a hit in recent years, which had been a global trend. Buckley has not seen evidence that investors are pulling out of the development of onshore renewables and batteries as a result of the Coalition’s nuclear policy. A report released by his firm this week found that investment activity over the past six months put Australia on track to deliver on the Government’s 2030 target of 82% renewables share in the energy grid. Read more

The rise of solar in the subcontinent has been all about government subsidies and massive arrays out in the desert. “India sees the opportunity to build energy security, grid diversity and reduce their massive over-reliance on imported fossil fuels,” says Tim Buckley, the director of Climate Energy Finance. It’s a familiar dynamic: fossil fuels falling into structural decline as massive new solar farms come online. And while solar continues its march towards super-cheap, super-abundant energy generation during the day, it’s over to another technology to continue the clean-energy transition into the night. “Solar was the disruption of last decade,” says Tim Buckley. “Batteries will be the disruption of this coming decade.” Read more

Australia has already passed the halfway point to its 2030 renewable energy goal and could reach it if momentum is sustained, research has found. But the federal opposition’s nuclear policy could undermine investor confidence in renewable energy projects and “derail” progress made in 2024, warns the study released on Tuesday by independent think tank Climate Energy Finance. The warning comes amid heated debate over Australia’s energy future after the coalition pledged to establish seven nuclear power plants if elected in 2025, and released costings from Frontier Economics last week. Read more

A new report issued by clean energy think tank Climate Energy Finance (CEF) highlights key factors accelerating Australia’s electricity sector transition toward the achievable target of 82% renewable energy by 2030. The report recommends, however, better policy, new investment and faster approvals are key to success for hitting the target, but outlines the pace of developments, particularly batteries as a reason to be confident. Report Author and Climate Energy Finance Director Tim Buckley told pv magazine that 47.4% of the National Electricity Market (NEM) was powered by renewables in October 2024. Read more

“tidal wave” of big batteries and record amount of new solar and wind are joining forces to drive down electricity prices and deliver Australia’s target of 82 per cent renewables by 2030, but only if current momentum can be maintained. A major new report says calendar 2024 is set to deliver a record amount of new solar and wind – nearly half of it from rooftop PV – and a major uptick in battery storage. But it warns of the “clear and present threat” from energy policy chaos, just as Australia hits its stride in the transition to renewables. The Climate Energy Finance report, published on Tuesday, finds Australia on track to meet its 82 per cent by 2030 renewable energy target, thanks to a strong uptick in renewable energy project proposal, construction and commissioning over the course of 2024. Read more

Climate Energy Finance (CEF) director Tim Buckley slammed the proposal as “disturbing”. “This will make the energy driven cost of living crisis dramatically worse in the short, medium & long term,” he said. “This policy has a clear political agenda. The LNP conflates renewable energy with the Australian energy hyperinflation evident since Putin’s invasion of Ukraine, with the resulting surge in oil, gas and coal prices due to ongoing sanctions against Russia,” Buckley said. “Australia’s energy prices have surged since 2022 because of fossil fuel hyperinflation. Renewables are the solution.” Read more

Tim Buckley speaks with Jaynie Seal about the newly released bogus costings for the LNP’s nuclear plan, which the CSIRO confirmed last week would cost twice the price of firmed renewables Read more