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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

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

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

“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

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

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

Renewable energy advocates such as Tim Buckley, director of thinktank Climate Energy Finance, hailed the scheme’s expansion as “exactly the kind of bold, landmark federal policy and investment ambition we need to rapidly transform Australia’s energy market whilst ensuring grid reliability and energy affordability”. “It will help facilitate the mothballing of polluting coal clunkers such as Origin Energy’s Eraring power station in New South Wales, Australia’s biggest, scheduled for 2025, while enabling stand-by capacity to ensure supply,” he said. Read more

Tim Buckley, director of Climate Energy Finance, today hailed Federal Climate and Energy Minister Chris Bowen’s decision to expand the Capacity Investment Scheme to a targeted 32GW, a huge stepchange in ambition. Read more

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. Buckley also noted the likely new climate accord by Chinese President Xi Jinping and US President Joe Biden, might see a formal call for a tripling of renewables capacity globally by 2030. “At a time of massive capital investment cost blowouts, to be able to invest in deflationary solar is a massive global boon that will provide cost of living pressure relief as well as improved energy security,” he sai Read more

The government is expanding its Capacity Investment Scheme (CIS) to drive the development of new renewable energy projects. “This policy alone will add effectively double that on-grid capacity over the next four or five years now,” said Tim Buckley, director of Climate Energy Finance. Read more

Tim Buckley, director at Climate Energy Finance, discusses the key issues at stake for the upcoming Origin Energy’s shareholders vote. He speaks with Bloomberg’s Haidi Stroud-Watts on “Bloomberg Daybreak: Australia.” Tim told Bloomberg that it is very important for Australia to drive the decarbonisation transformation of our economy at speed and scale required. That requires hundreds of billions of dollars of investment, hence why he supports Brookfield’s bid for Origin as they have the capital to drive the decarbonisation and is willing to do so. Read more

CEF Tim Buckley and Annemarie Jonson wrote: Energy minister Chris Bowen’s boost to the Capacity investment Scheme (CIS) is a game-changer, expanding federal investment to underwrite a massive target of 32GW of new storage and renewable infrastructure, a huge step-change in national decarbonisation ambition and to be roundly applauded. This is exactly the kind of bold, landmark federal policy and investment ambition we need to rapidly transform Australia’s energy market whilst ensuring grid reliability and restoring energy affordability. Read more