Media

In fDi Intelligence, part of the FT, Tim Buckley reflects on the impacts of the US IRA and Australia’s Future Made in Australia Act: “We were increasingly hearing companies saying, ‘we’ll put our Australian decarbonisation project on hold, because the US government’s throwing hundreds of millions of dollars of subsidies at each project,” says Tim Buckley, founder of local think tank Climate Energy Finance. He points to local resources giant Fortescue last year pledging $550m towards a green hydrogen project in Arizona compared with $50m towards a green iron project in Australia. Climate Energy Finance is among industry bodies calling on the government to offer a total of A$100bn in green incentives to compete with the US. If the government is re-elected next year, Mr Buckley expects “significantly more money allocated” to FMIA.” Read more

On EcoGeneration: In a move hailed as a pragmatic step towards enhancing cooperation on clean energy, Australia has dropped its anti-dumping duties on imported Chinese wind turbines. In a decision that signals a thawing of trading tensions between China and Australia, it opens the door for deeper collaboration in accelerating the nation’s renewable transition. According to Tim Buckley, CEO of Climate Energy Finance, lifting the punitive trade barriers represents a positive development aligned with Australia’s ambitions to tackle the climate crisis through a collective global response. Read more

NSW has been slow to build out transmission infrastructure for its REZs which slowed development within the zones and saw projects outside of them deprioritised, and has only just opened tenders for “access rights” to the new REZs≥ This has contributed to the state’s mammoth renewables slowdown, says Clean Energy Finance director Tim Buckley. “The devil will be in the detail,” he told Renew Economy. “If the Victoria scheme provides greater clarity on where firmed renewable projects can be located, and rewards hybrid renewable projects, that is an overall benefit. “We see that in China, where they actively develop renewable energy zones to maximise grid access by building wind and solar and battery storage and coal fired power plant projects together. “Start with the major constraint, which is grid transmission, and give investors confidence they won’t be constrained. “Investors need clarity and reduced risks from opaque approval structures and lack of visibility of where it’s best to put a renewable energy project. We need to deploy at speed and scale.” Read more

Beijing’s new 2024-25 Energy Saving and Carbon Reduction Action Plan aims to eliminate high-pollution, energy-intensive production and enhance renewable energy usage. “This plan is a significant step forward,” said Dong Xuyang, China energy policy analyst at Climate Energy Finance. With a steel-production glut and falling domestic real estate demand, the plan addresses the need to reduce excessive steel exports and lower the carbon intensity of steel production. Dong highlighted the focus on improving power storage and transforming distribution networks to better integrate new energy sources. With China’s renewable energy capacity exceeding 1.45 billion kilowatts, the plan tackles challenges like electricity generation volatility and geographical discrepancies. “This is a strategic opportunity for decarbonisation,” Dong added, noting the plan’s ambitious targets and its balance between energy security and a cleaner energy transition. Read more

Tim Buckley heralded the announcement of electrified trucks in WA mining as a “massive opportunity” for Australia’s mining and industrial future. “For us to deploy and derisk new technology and that does require collaboration. BHP and Rio can be rivals in selling iron ore, but we need them to collaborate on supply chains to really derisk and get the benefit of common buying and scale. We know they will need a massive amount of trucks and it could underwrite a factory. Four or five of the biggest mining companies in the world are in Australia and that is a competitive advantage. Let’s extend that comparative advantage by encouraging a world leader like Caterpillar or Komatsu or Liebherr to come and build a factory here.” Read more

Mads Prange Kristiansen & Tim Buckley take an extended look at how Australia can leverage its huge opportunity in offshore wind. Read more

Clean tech finance expert and head of Climate Energy Finance think tank Tim Buckley thinks a China CBAM (Carbon Border Adjustment Mechnanism) is just what’s needed to kick Australian miners into action. “While it’s a leap from a tariff increase on large engine cars to a China CBAM, it is great to see China referencing and linking the importance of the energy sector technology disruption and the need to green the economy.” says Buckley. Read more

Xuyang Dong talked to Carbon Brief about CEF’s new report POWER SHIFT: China installed a record 293 gigawatts (GW) of wind and solar in 2023 – pushing its total capacity to 1,050GW, according to a new report. The report, published by Australia-based thinktank Climate Energy Finance, says that, if this rate of renewables growth is maintained, then China could reach its “dual carbon” climate goals earlier than planned. Read more

The federal government has set aside more than $500m to encourage battery production in Australia. But it’s not yet clear exactly how the scheme will work. The Government says it’s time Australia played a bigger role in battery production but some experts believe its the wrong place to invest. CEF’s Tim Buckley joins ABC Radio alongside Ed Husic, Minister for Industry and Science; Tony Wood, program director for energy and climate change, Grattan Institute; and New South Wales Energy Minister Penny Sharpe. Read more

The new CSIRO GenCost 2023-24 report released this week makes for very interesting reading. In the report, the Australian Government’s independent scientific body subjects the nuclear barracking of Peter Dutton and Ted O’Brien to a comprehensive science and economics based, peer reviewed debunking. Peter Dutton has now pivoted to spruiking large scale nuclear reactors, having repeatedly thumped the table last year asserting in the face of all the available evidence that small modular reactors are the solution for Australia’s energy transition, with a similar reception from the CSIRO. Read more

As a new CSIRO report demonstrates once and for all that nuclear is not viable in Australia as a zero-emissions energy source, Tim Buckley explains that nuclear would lock in permanent, ultra-high energy prices for Australians. Read more

Australia’s energy market operator, AEMO, is warning of power shortages in NSW, Victoria and South Australia in the coming years, as key energy projects fall behind schedule. Its latest report calls for urgent investment and coordination of smaller-scale energy projects to shore up the grid’s reliability. Energy analysts say rooftop solar and household batteries will be crucial in keeping the lights on. Read more