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Australia has already passed the halfway point to its 2030 renewable energy goal and could reach it if momentum is sustained, research has found. But the federal opposition’s nuclear policy could undermine investor confidence in renewable energy projects and “derail” progress made in 2024, warns the study released on Tuesday by independent think tank Climate Energy Finance. The warning comes amid heated debate over Australia’s energy future after the coalition pledged to establish seven nuclear power plants if elected in 2025, and released costings from Frontier Economics last week. Read more

A new report issued by clean energy think tank Climate Energy Finance (CEF) highlights key factors accelerating Australia’s electricity sector transition toward the achievable target of 82% renewable energy by 2030. The report recommends, however, better policy, new investment and faster approvals are key to success for hitting the target, but outlines the pace of developments, particularly batteries as a reason to be confident. Report Author and Climate Energy Finance Director Tim Buckley told pv magazine that 47.4% of the National Electricity Market (NEM) was powered by renewables in October 2024. Read more

“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

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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

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

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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