Wind farm turbines on the water

Media

CEF in the media  |  Dec 1, 2023

中国巨额投资转变实现减排 澳需紧急回应建新伙伴关系

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Our Chinese energy SOEs report by Xuyang Dong mentioned in Australia Financial News – An Australia-based Chinese-language news outlet. Read more
Media Releases  |  Dec 1, 2023

COP28 starts on a high with rich countries pledging millions to help poor ones

The Sydney Morning Herald

In 2020 China set a target of deploying 1200 gigawatts of wind and solar by 2030. (For comparison’s sake, the total capacity of Australia’s grid is 71 gigawatts.) It is now set to reach that target in 2024, six years early. Its annual deployment has doubled this year after leaping by 50 per cent last year. It is installing the equivalent of Australia’s east coast grid in renewables alone, every three months, says the CEF’s director, Tim Buckley. Read more
CEF in the media  |  Nov 30, 2023

Call to join forces as China sets pace on clean energy

Canberra Times

Demand for Australian coal from the nation’s biggest customer is heading for long-term decline as China changes course on energy investment, research shows. According to a report released on Thursday by independent think tank Climate Energy Finance, Australia must urgently respond and pursue new partnerships with China to replace jobs. Lead author of the report, Xuyang Dong tracked the investment trends of China’s top five enterprises, which she said pointed to the possibility of the superpower exceeding its energy goals. Read more
CEF in the media  |  Nov 30, 2023

China’s world-beating renewables surge threatens Australian exports

The Australian Financial Review

China has vaulted ahead of the rest of the world in solar and wind power installations in 2023, accelerating the energy transition for Australia’s biggest export customer and posing a growing threat to future coal exports. “China’s demand for Australian exports of thermal and coking coal is set to decline structurally over the longer term due to the greening of China’s power sector and economy,” said Climate Energy Finance director Tim Buckley. “The report recommends that to minimise economic risk, Australia urgently comprehends and responds at speed to align with China’s massive investment pivot.” Read more
Media Releases  |  Nov 29, 2023

MEDIA RELEASE | New report: Chinese Energy Giants’ Investment Flows Supercharge Renewables Revolution in Response to 14th “Five Year Plan”

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CEF’s China energy policy analyst, report lead author Xuyang Dong, tracked investment trends of China’s 5 top State Owned Enterprises, reviewing reporting disclosures and corporate data in the original Chinese. Xuyang Dong said: “China is decarbonising the world and the Chinese energy SOEs are playing a significant role in this process, as their massive capital expenditure pivot into renewables and cleantech shows. China’s ambition to lead the greening of the world is evident in its energy policies and climate goals, and reflected in energy SOEs’ capex trends, which highlight the possibility of China exceeding its energy goals. ” Read more
CEF in the media  |  Nov 29, 2023

Cop28: where does China stand on coal and renewable energy ahead of the UN climate conference’s tough negotiations?

South China Morning Post

At the 28th annual United Nations Climate Change Conference, starting on Thursday, negotiators from around the world will try to thrash out new global commitments to mitigate and adapt to climate change, one of the toughest challenges facing humanity. The world will also be looking to China to signal an intention to put a price on carbon emissions in domestic goods and imports, said Tim Buckley, director at Australia-based think tank Climate Energy Finance. “This would elevate China’s global leadership in all zero-emissions industries of the future and would signal the need for a clear international price on carbon emissions in global trade,” he said. Read more
CEF in the media  |  Nov 28, 2023

VIDEO: Australia moves a step closer to cleaner, greener, brighter future

AusBiz

Tim Buckley, Director of Climate Energy Finance expresses his approval of Energy Federal Minister Chris Bowen’s decision to expand the capacity investment scheme, describing it as a major shift in ambition. He highlights the issue of foreign takeovers of Australian energy companies by firms based in tax havens, viewing this as a loss for taxpayers. However, he points out that companies such as Brookfield’s willingness to invest substantial amounts in renewable energy potentially outweighs this concern. Read more
CEF in the media  |  Nov 28, 2023

Solar module prices may reach $0.10/W by end 2024

PV Magazine

Tim Buckley, director of Climate Energy Finance, speaks to pv magazine about the current steep trajectory of solar module prices. He estimates that PV panels prices will end up dropping by 40% this year and predicts the closure of old technology and sub-scale solar manufacturing facilities, both in China and globally. Read more
CEF in the media  |  Nov 27, 2023

Tim on ABC 7.30 VIDEO: Capacity Investment Mechanism

ABC 7.30

The Capacity Investment Scheme (CIS) is a federal initiative designed to underpin the deployment of dispatchable renewable energy and storage capacity across Australia, offsetting any reliability gaps as the country transitions from fossil-fuel based to clean energy and coal exits the system. It is a central enabler of the federal renewable energy target of 82% by 2030. The CIS explicitly excludes methane gas peaking power plants. Read more
CEF in the media  |  Nov 25, 2023

The cost of supplying energy has halved, but it’ll be a while before your bills reflect that. This is why

ABC online

“The wholesale cost of electricity has come down more than 50 per cent year on year in [calendar year] 2023 because the hyperinflation of gas and coal commodity prices internationally over 2022 has now in 2023 progressively come off [more than] 70 per cent from their peak,” Climate Energy Finance Director Tim Buckley says. Read more
CEF in the media  |  Nov 23, 2023

Tim Buckley on ABC Business VIDEO: Origin delays shareholder vote to consider revised takeover offer

ABC TV The Business

Climate Energy Finance director Tim Buckley says the revised offer from Brookfield and EIG Partners might mean investors vote for the takeover deal on December 4. Read more
CEF in the media  |  Nov 23, 2023

Tim Buckley on Sky News: on Chris Bowen’s Capacity Investment Scheme 

The Australian

Climate Energy Finance Director Tim Buckley says the announcing of the Capacity Investment Scheme is a “very significant move” by Climate Change and Energy Minister Chris Bowen as it “doubles” on grid capacity of renewables. The targets 82 per cent of Australia’s electricity generation to come from renewables by 2030, along with their targets for a reduction in emissions by 43 per cent below 2005 levels by 2030. Mr Bowen announced the scheme on Thursday which will underwrite 32 gigawatts of new electricity, which consists of 9 gigawatts of storage and 23 gigawatts of variable renewable energy generation. “We, at the moment, have about 32 gigawatts of renewables on grid, in Australia, today and this policy will effectively double that on grid capacity over the next four or five years,” Mr Buckley told Sky News Australia. “That capacity will be brought onstream progressively over the next two, three, four years. “In one initiative, a doubling of the renewable energy capacity on grid in Australia.” Read more
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