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SUBMISSION | Unlocking Green Metals Opportunities for a Future Made in Australia
Climate Energy Finance (CEF) sees an urgent imperative for the Federal Government to establish the policy and budget support to accelerate the development of a competitive Australian green metals industry by investing a minimum of an additional $10-30bn capital and direct budget support in the 2024-25 Mid Year Economic and Fiscal Outlook (MYEFO), building on Treasurer Jim Chalmers’ $22bn budget support provided in May 2024, and the $40-45bn of capital support established in May 2023 (via the NRF, NAIF, EFA, CEFC, ARENA). Read more
MONTHLY CHINA ENERGY UPDATE | China to Achieve its 2030 Installed Clean Energy Target in July 2024
China will achieve its 1,200GW wind and solar installed capacity by 2030 target by end July 2024, six years ahead of schedule. 103.5GW of zero-emissions capacity was added during the first 5 months of CY2024, as thermal power additions declined by 45% y-o-y as the end of May CY2024 notwithstanding a still exceptionally strong +6.9% y-o-y YTD2024 increase in electricity demand. Read more
OP ED | Warmer Ties Could Cool the Planet: Potential for Australia-China Green Energy Collaboration
Australia and China’s improving diplomatic relationship, highlighted by recent high-level meetings and record trade, presents significant opportunities for green energy collaboration. With China facing overcapacity in solar panels, batteries, and electric vehicles, Australia stands to benefit from redirected Chinese investments. By leveraging its abundant renewable resources and enhancing critical mineral processing, Australia can become a more appealing supplier, particularly in the wake of global trade tensions. Read more
OP ED | Coalition’s Taxpayer-Funded Nuclear ‘Policy’ a Road to Ruin
While the Coalition has failed to release any detail or costings, today we have confirmation that if it gets into office, Australians will be paying a multibillion dollar “nukebuilder” tax for generations to come by being forced to front the cash for a national buildout of government-owned nuclear reactors across 7 locations, including on the sites of former coal-fired power stations. It beggars belief that Opposition Leader Peter Dutton proposes nationalising a nuclear public debt bomb and detonating it at the heart of energy policy in this country. Read more
OP ED | Queensland Budget 2024-25: A Win for Renewable Energy, Jobs, Investment, and a Win for Queenslanders.
The Miles Government has delivered its first budget, inclusive with the largest state investment package for renewable energy to-date in Australia. This provides the critical impetus required to crowd tens of billions of private capital into establishing the sunshine state as a renewable energy superpower, and accelerate the development of emerging low-emission industries to safeguard the state’s future economic and jobs growth, leveraging the global shift to a decarbonised economy. Read more
OP ED | China’s Massive Investment into Cleantech R&D and Manufacturing is Catalysing the Global Energy Transition
10 years ago, President Xi Jinping delivered a speech outlining that developing a New Energy Vehicle (NEV) industry was the only way for China to become a global automobile manufacturing powerhouse. This speech marked the pivotal moment of China’s trajectory in developing its new energy industry. Fast forward a decade, through strategic industry and energy policy, and a core focus on research and development (R&D), China has become the largest NEV manufacturer in the world, and in 2023, overtook Japan as the world’s largest auto exporter. Read more
MONTHLY CHINA ENERGY UPDATE | New Solar Deployment Accelerates amid CO2 Emissions Slowdown
During the first 4 months of CY2024, China added 79.7GW of zero-emissions new capacity, accounting for 90% of the net capacity additions. China added 76.9GW of wind and solar capacity from January to April, if this pace sustains or accelerates in the rest of the year, China will achieve its 1,200GW of installed wind and solar capacity by 2030 target this year, 6 years ahead of time. In March, China saw its CO2 emissions fall for the first time in the past 14 months. China’s thermal power generation increased 5.9% y-o-y during the first 4 months of CY2024, despite the massive expansion in renewable energy deployment. Biden’s 100% tariff on Chinese EVs might not be as effective as Chinese EV makers remain price-competitive even after the add-on tariffs, but Chinese EV leaders will renew their focus on other key markets like Brazil and Indonesia. The US’s 50% tariff on solar products hurts American consumers and slows down its national renewable energy development. Read more