Media

“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

Tim Buckley comments for this Washington Post feature on China’s extraordinary energy transition progress and the implications for emissions. Read more

Tim Buckley shares his insights in a 15 minute video presentation about geopolitical energy landscape. There are geopolitical headwinds to decarbonisation in the U.S., but that just leaves more scope for a China-EU race to the top. Australia needs to collaborate with our number one trade partner. Read more

Tim was invited by Rob Stokes and Matt Kean to a debate on nuclear at Maquarie Uni. Rob, Matt and Tim were able to shift audience opinion. Great record to point to for anyone who has a nuclear supporter in their friends or family during the holiday season. Read more

In the light of Trump’s election in the US, Climate Energy Finance director Tim Buckley framed China’s dominance in clean technology manufacturing as an opportunity rather than a threat. “China wants to partner with us,” Buckley said, noting that Australia’s status as China’s leading trading partner provides a strong foundation for technology transfer and manufacturing collaboration. Read more

Tim Buckley, Sydney-based director at Climate Energy Finance, said: “I think that Adani’s indictment will slow the Adani Group’s access to international capital for a while, but financial markets are amoral and will quickly ignore most of the charges [even] if they are not resolved.” The incoming Donald Trump administration would probably bolster the US-India relationship despite the charges against the Adani group chairman, he added. “I think the Indian renewables sector has built significant global credibility and depth of capacity in recent years so that it will continue to prosper irrespective of the fraud and bribery charges against one of the leading players in this sector,” Buckley said. Read more

Australia could miss out on $70 billion a year in export revenue if it does not pivot quickly enough to “green iron” as countries like China decarbonise their supply chains, a new report claims. By becoming a world leader in green iron, Australia could double its export revenue to $250 billion, according to the Climate Energy Finance (CEF) think tank. Read more

What does a green superpower look like? A certain command and control economy to Australia’s north is the model despite its many current flaws. “China is moving a million times faster than we are,” CEO of Climate Energy Finance, Tim Buckley, said. “China installs 24 gigawatts of wind and solar every month. That’s what they did last month. That’s what they’ve done on average in the last 20 months. We do about six gigs a year. “So they do in one week what we take a year to do. “The idea that we’re the superpower is a delusion. “We’re in a race and we’re not winning it. “But we do have the potential to be a renewable energy superpower and mining is going to be how we get that.” Read more

The stock market reacted quickly to the SEC’s allegations of bribery and fraud against Adani Green and Azure Power. “This is a major historic event,” commented Tim Buckley, founder and director of Climate Energy Finance. “The Hindenburg research accusations of two years ago labelled this ‘the single biggest corporate fraud in world history’. I think that is right.” Read more

Trump is expected to reduce the US’ commitment to his predecessor’s landmark Inflation Reduction Act, which funnelled billions of dollars into clean energy. “This opens up strategic opportunities for cooperation for many countries, including both Australia and India,” said Tim Buckley, director of the Sydney-based Climate Energy Finance think tank. Read more