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The Modi-led “Make in India” campaign “has been an own goal for the Indian people”, Tim Buckley of Climate Energy Finance (CEF) tells Carbon Brief, pointing out that both solar module and battery costs have halved globally over the past year. He says trade barriers have made solar more expensive to install and that India risks “being left behind” in the renewable energy race. He adds: “India has failed to understand the magnitude of the tech advances involved led by China; putting up trade barriers has deprived India. Modi has regularly talked about India building 50GW of solar in a year, but has averaged less than a third of that and has fail[ed] to deliver on it five years in a row.” Read more

The boss of Orica, a major explosives manufacturer that relies on gas, says the federal government’s gas strategy won’t assist what remains of Australia’s manufacturing industry unless it caps prices at globally competitive levels.Analyst Tim Buckley from Climate Energy Finance described the federal government’s gas announcement as “bizarre” and argued it contradicted the government’s decarbonisation ambitions. “Prime Minister Albanese’s Future Made in Australia is exactly the sort of strategy we need, and then the federal government comes out with this own goal,” he told The Business. Read more

“The gas industry has mercilessly price-gouged Australians, with gas prices more than tripling in the last 10 years, driving up energy prices more broadly and destroying manufacturing. Climate Energy Finance think tank director Tim Buckley described the strategy as “ridiculous and beyond disappointing.” “The strategy is a massive misstep in the context of the strides the Albanese government has been making in pivoting to our economic future as renewables powered zero-emissions trade and investment leader,” he said. “Gas as a transition fuel might have made sense a decade ago, but the climate science and renewables and storage technology landscape has changed fundamentally in the decade since. Power supply firming, where gas plays a small and diminishing role, is now transitioning to batteries and other storage technologies.” Read more

There is a lot to unpack in the Albanese government’s Future Gas Strategy, a mind-boggling policy move that seeks to lock the fossil fuel into Australia’s energy and export – and greenhouse gas emissions – mix to 2050 and beyond. Finally, Tim Buckley from Climate Energy Finance says the “gas shortage” narrative being lapped up by the government is “fabricated and fact-free.” “East Australia produces 5 times as much gas as we use domestically, most of it exported and then sold back to us at outrageously inflated prices,” Buckley said on Thursday. “The only winners from the Future Gas Strategy are the multinationals. And the only gas shortage is a shortage of gas cartel ethics, aided and abetted by a government that appears to be suffering a severe case of industry capture.” Read more

“It is ridiculous and beyond disappointing that the Australian Government in 2024 is releasing a long-term strategy that centres methane gas in the transition to net zero by 2050. The strategy released today is a massive misstep in the context of the strides the Albanese government has been making in pivoting to our economic future as renewables powered zero-emissions trade and investment leader. Read more

New South Wales is not on track to meet climate change targets, according to the government’s own environmental database. The Climate Energy Finance director and analyst, Tim Buckley, said the Eraring subsidy would cost the taxpayer $150m a year. He said: We are putting band aids on end of life coal assets instead of investing in the solutions to permanent low cost zero emission solutions that Australia and NSW desperately needs to see approved. This is a race to the top and yet the NSW government in 2024 is now going in the wrong direction. We call on them to reallocate planning resources to approving the projects we critically need to solve the climate crisis.” Read more

Resources Minister Madeleine King announced on Thursday that Australia would ramp up gas projects as part of its Future Gas Strategy, saying it was needed to meet surging demand. Tim Buckley, director of independent think tank Climate Energy Finance, suggested the narrative of a gas shortage has been fabricated by the gas lobby in an attempt to expand the industry’s profits. Buckley also rejected the government’s claims that the Future Gas Strategy would help keep gas prices low for Australian consumers. “Placing a long-term commitment to this hyper-expensive climate-polluting fuel at the core of transition policy does exactly zero to ensure affordable gas for domestic use here in Australia first,” he said in a statement. “On the contrary, the gas cartel is the key culprit behind the domestic energy unaffordability that has smashed Australian households and businesses over the last several years and into 2024.” Read more

The Future Gas Strategy released by Federal Resources Minister Madeleine King is a massive misstep in the context of the strides the Albanese government has been making in pivoting to our economic future as renewables powered zero-emissions trade and investment leader. Australia, is positioned to lead the world in the decarbonised global economy of the rapidly emerging future, if we invest strategically at scale and redouble our efforts into future-facing clean energy and industry opportunities. Australia needs to invest in our future, not prop up industries of the past. It is beyond time for Australia to make the right choice. Read more

Tim Buckley from Climate Energy Finance says that Labor’s gas plan announcement is at odds with the government’s recent progress on its climate goals. Buckley says the Labor government’s Future Gas Strategy is a total undermining of the climate science and the climate action. Read more

Mr Buckley says Prime Minister Anthony Albanese has said Australia must embrace the new low-cost, zero-emissions energy solutions available to us to shift our economy to a fully renewable grid. But this strategy will only further entrench a high-emissions, low-tax-paying industry in Australia’s economy. “Placing a long-term commitment to this hyper-expensive climate-polluting fuel at the core of transition policy does exactly zero to ensure affordable gas for domestic use here in Australia first. “On the contrary, the gas cartel is the key culprit behind the domestic energy unaffordability that has smashed Australian households and businesses over the last several years and into 2024. Read more

In the automotive sector, China argues overcapacity is concentrated in combustion-engine cars rather than EVs and says market mechanisms will eventually weed out weak players. Moreover, some models by Chinese EV maker BYD sell in Germany for more than double their price in China – an argument that critics use against Europe’s concerns over unfair pricing. China also says many of its firms are more innovative, hence more competitive. It can point to surpassing the United States as world leader in patent applications. One industry where global demand does not keep up with Chinese production, though, is solar. Xuyang Dong, China energy policy analyst at Climate Energy Finance in Sydney, estimates China’s wafer, cell and module capacity coming online in 2024 is sufficient to meet annual global demand now through to 2032. Read more

Treasurer Jim Chalmers unveiled a major overhaul of foreign investment rules, saying the changes were designed to help attract private capital and better manage national security risks. Climate Energy Finance director Tim Buckley said Chinese investors had made important contributions to Australia’s renewable industry, and the more competitive investors able to bid, the better for the energy transition. “We need to collaborate with them because they have got the world’s best technology in solar panels, polysilicon, batteries, wind turbines and electric vehicles,” Mr Buckley said. “Getting them to collaborate and invest in Australia in partnership with us will be critically important”. Read more