Media

“The result is that China has a dramatically larger capacity to export solar modules as 2024 and 2025 unfold, and the resulting global oversupply is pushing [solar] module prices down dramatically,” said Tim Buckley, Sydney-based director of Climate Energy Finance. China’s export prices of modules have halved, and their efficiencies have improved dramatically because of investments in research and development, he said. “All of this is increasing the commercial viability of solar relative to alternative sources of electricity, both within China and in the wider Asian markets and globally,” Buckley said. Though its early days, China should be able to leverage its leadership with trade partners in Asia, Africa and South America, he added. Read more

Lachlan Maddock, Editor of Investor Strategy News points to Climate Capital Forum’s proposal in its pre-budget submission for the Future Fund to include a “strategic national interest objective”. Read more

Climate Capital Forum founder Blair Palese comments on federal government grant to Bluescope Steel for work to reline existing arc furnace in Port Kembla through Critical Inputs to Clean Energy Industries program. “There is no time left for federal government support for anything except strategies to fully decarbonise as global demand for net-zero materials grows exponentially,” she said. Read more

Blair Palese, Climate Capital Forum founder criticises a $137 million federal grant to BlueScope Steel for a $1.15 billion upgrade of its Port Kembla blast furnace. “We need policy vision and ambition that encourages this transition, not more support for existing emission-intensive industries.” Read more

Amid the cost of living crisis one ray of sunshine of late has been falling energy prices. And while the mild weather, lower fuel costs and fewer coal supply issues have played a part, the increase in cheap wind and solar energy has also been helping to drive down the cost of keeping the lights on and heating and cooling our homes and businesses. Read more

Allocating taxpayer monies to support BlueScope Steel to invest $1bn to lock in high emissions blast furnace technology for the next 20 years is a missed opportunity according to Climate Capital Forum. Much stronger incentives are urgently needed to reduce – not support new – fossil fuel powered production. Read more

Australia can close down its largest coal-fired power plant and the residents of New South Wales wouldn’t experience any interruption in their electricity, according to a new report. CEF director Tim Buckley analyzed the 2024-2030 power sector and determined NSW will get along just fine without depending on dirty old coal. “There is no reason why the taxpayer should be on the hook for multiples of hundreds of millions of dollars to keep Eraring open,” said Buckley Read more

Energy analysts including Tim Buckley have argued that retail power prices should fall when the Australian Energy Regulator sets its default market offer for the year from 1 July. Even though wholesale prices make up only about one-third of the bill consumers pay, the drop so far this financial year could provide a “double-digit drop” if maintained, Buckley said. Read more

Offshore wind offers an option to supply large, stable electricity for major energy consumers and regional employers, making it a valuable component, particularly as we move to and beyond 82 per cent renewables. It also can help reframe, power and rebuild Australian regional communities, giving people a say through public consultation, partnering with First Nations, and different ways of asset ownership. Wind executive and Climate Capital Forum member Satya Tanner and CCF strategic comms lead Amanda Caldwell explain. Read more

There is no need to use taxpayer fund to keep Australia’s biggest coal power plant open beyond its planned closure date in 2025 as the state of NSW has made “massive progress” on new renewable energy and battery capacity, according to think tank Climate Energy Finance. Read more

Tim Buckley tells AusBiz there is no reliability gap surrounding the closure of Aus’ biggest coal plant, Eraring in NSW. He points to a report by the Australian Energy Market Operator (AEMO) presented to the NSW Energy Minister which shows no need for public subsidies to keep the plant open. Read more

In Canberra Times and across 100+. mastheads, CEF’s new report detailing the pipeline of firmed renewables that means Australia’s biggest coal power station, Eraring, can close down on schedule in 2025 with no electricity supply reliability gap. Read more