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Decarbonisation

CEF in the media  |  Feb 19, 2024

Action over rhetoric, calls to see PM’s ambition followed with funding

PV Magazine

Tim Buckley, the director of Climate Energy Finance, however expressed his fear on LinkedIn that the Australian Government would hide behind the rhetoric that Australia can’t afford to think big, in terms of the scale of the need and the massive intergenerational opportunity. Buckley calls for public-private partnerships with world-leading financial majors within and outside of Australia and with global industry leaders, the country’s biggest customers, citing China’s Contemporary Amperex Technology Co., Japan’s Panasonic & Mitsui & Co., Ltd., and India’s Reliance Industries Limited as examples. Read more
CEF in the media  |  Feb 16, 2024

When everyone else lost power, Kate’s stayed on. Here’s why

The Sydney Morning Herald

Tim Buckley said Tuesday’s blackout shows why it is important the energy market diversify, particularly as climate change escalates and extreme weather becomes more extreme and more frequent. “Our power system needs to factor this in as part of sensible adaptation. Victoria, like Australia, is on notice. We need to plan and build in energy system resilience as a key priority, and invest in a modern, flexible grid that is future-proofed,” he said. Buckley added that thermal coal power plants were not part of that solution, instead they were the problem. “Australia’s world-leading distributed rooftop solar and battery residential systems can be built in a day, or for commercial properties, a month, at speed and scale,” he said. Read more
CEF in the media  |  Feb 15, 2024

Victoria’s power dilemma: Reliability, resilience and a 40-year-old plant

The Age

Grid expert Tim Buckley, director of Climate Energy Finance, said that when you had 30 per cent of Victoria’s power generation centred on a single, ageing facility, “you have a real concentration of risk”. “The idea that Loy Yang A is going to be operational 10 years from now is really remote,” Buckley said. “The engineers say it has a 40-year life asset. Forty years is next year, so any year beyond 2025 is a bonus year. “So we have critical point reliance on something that already next year reaches its end of useful life and we’re banking on it being held down for another decade. It’s already unreliable.” Read more
CEF in the media  |  Feb 15, 2024

Spectre of ‘climate wars’ looms in Queensland as LNP urged to back government’s emissions reduction target

The Guardian

Environmentalists have implored Queensland’s opposition party to “end the climate wars” by backing the government’s carbon emissions reduction target as renewables industry leaders also call for bipartisanship on the issue. Climate Energy Finance director, Tim Buckley, said the industry requires bipartisan support for long-term planning and security. “That means it’s got longevity and credibility and therefore it provides the investor certainty that is needed to really underpin the literally hundreds of billions of dollars of investments that are required to make this work,” Buckley said. Read more
CEF in the media  |  Media Releases  |  Feb 15, 2024

OP ED | Massive Victoria blackout underlines need to accelerate transition to firmed renewables

Renew Economy

Victoria, like Australia, is on notice. We need to plan and build-in energy system resilience as a key priority, and invest in a modern, flexible grid that is future-proofed. This requires pivoting emphatically and as a matter of urgency from risky dependence on end-of-life, unreliable, polluting centralised coal-plants like Loy Yang A, built four decades ago for a completely different energy market. Thermal coal power plants are not part of the solution – they are the problem. Alongside big solar, wind and batteries, we stand on the precipice of a revolutionary opportunity to massively upscale consumer energy resources, like solar PV on rooftops everywhere, household batteries, and EVs sending power to the grid. Read more
CEF in the media  |  Feb 14, 2024

OP ED | Victoria’s blackout crisis is rooted in a decade of Coalition Inaction

The Age

Recent blackout crisis in Victoria is caused by a decade of inaction by the Coalition government in addressing climate and energy policy. The blackout was caused by storm damage to power lines, leading to the shutdown of coal-fired generators, which contributed to a third of the state’s power supply being lost. Tim Buckley argues that a lack of investment in transitioning the grid to renewable energy sources, such as rooftop solar and battery storage, has left the energy system vulnerable to such crises. Urging for a shift towards decentralized, decarbonized, and renewable energy solutions, the article emphasizes the need for state and federal cooperation and investment in a modern, resilient energy grid. Read more
CEF in the media  |  Feb 14, 2024

Wind or sun, coal or nuclear; we need a stronger grid and a better debate

The Sydney Morning Herald

“It was not Loy Yang A tripping that caused the blackouts, it was the grid connected to Loy Yang that got taken out, and Loy Yang tripped because [it] couldn’t export the power [it was] generating,” explains energy analyst Tim Buckley. He says distributing the sites at which power is generated and stored and the number of transmission lines connected to these sites to end users would strengthen rather than weaken the grid. “It’s about having a spiderweb so if the one line or one string goes down, the grid overall doesn’t collapse.” Read more
CEF in the media  |  Feb 14, 2024

Downed Vic power lines spark debate

PV Magazine

Tim Buckley, the director of Climate Energy Finance in Sydney described yesterday’s events as a “debacle” and called for a rapid rollout of wind, solar, and battery energy storage. “The result is electricity prices spiking to the maximum $16,600/MWh – meaning all electricity producers are absolutely cashing in big time, profits for generators, a nightmare for Victorian energy users. Time to break the fossil fuel cartel gouging Australians and accelerate the deployment of firmed renewable energy as fast as possible,” wrote Buckley in a post on LinkedIn. Read more
CEF in the media  |  Feb 14, 2024

Analyst calls for major improvements to Victorian grid resilience

ABC Radio

A leading energy analyst says Victoria needs to improve the resilience of its power supply. Tim Buckley is director of the public interest think tank Climate Energy Finance. He joined Raf Epstein to share his view of what Victoria needs to do to future-proof the grid. Read more
CEF in the media  |  Feb 8, 2024

Why is AGL’s profit soaring as millions of Australians struggle to afford their power bills?

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Millions of low-and-middle income Australian households are struggling to pay soaring power bills, so hearing that one of the big companies supplying that power is raking in enormous profits may be hard to swallow. AGL Energy has posted a first half underlying profit after tax of $399 million, up 359 per cent on the same period last year. It achieved the bumper profit through higher prices for customers. Tim Buckley told ABC that the wholesale cost has came down, but the retail prices held up. This is due to the function of the regulator’s protections that are in place under the Australian energy regulator. As a result, we see a lag impact on the retail pricing, and we will see a different profile come the 1st of July 2024 than the profile we’ve seen in the last 2 years. Read more
CEF in the media  |  Feb 8, 2024

OP ED | A circuit breaker to give us clear air on heated wind debate

The Newcastle Herald

The transition of Australia’s energy system will simply not happen without diversified supply: offshore wind projects are an important component now available for our future energy system. Climate Capital Forum member and experienced wind energy executive, Naomi Campbell, outlines the extensive feasibility process involved and the opportunity for community engagement. Read more

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