Media

According to Clean Energy Finance director Tim Buckley, increased renewable energy supply and reduced fossil fuel price gouging is driving down wholesale prices which averaged A$91/MWh in CY2023, -52% year on year. “This trend has continued, with 4QCY2023 averaging just $64/MWh -41% year on year, and well on its way back down to 2020-2021 levels,” he says via a LinkedIn post. “This argues really strongly for double digit retail electricity price declines come the default market offer effective 1 July 2024, easing cost of living pressures and inflation, which in turn boosts the potential for slightly lower interest rates over the coming year.” Read more

Queensland leads the nation in rooftop solar uptake, however there are concerns about the switch to renewables could come at a cost as the oversupply for the solar power during the middle of the day could bring wholesale electricity prices into the negative. Tim Buckley told 7News Sunshine Coast that the energy retailers asking for compensation is speaking for their self-interests to protect their profit margin. Buckley said consumers who are on the default market offer can expect to see a double digit decline in the retail electricity price come the 1st of July 2024. Read more

Tim Buckley, working for Climate Energy Finance, reviews the likely phasing out of coal energy in Australia by 2038 and the rise of alternative energy sources. He insinuates that the potential for increased use of zero emissions technologies is significant, given the absence of nuclear power. Particularly, Tim singles out the future of rooftop solar in Australia, predicting that its capacity could quadruple in the next 27 years, exceeding the entire current installed capacity within the country. Read more

Michael West speaks with energy finance analyst and renewable energy expert Tim Buckley. Read more

Australia’s energy transition to renewables is moving at record pace but there are warnings the nation’s main power grid could struggle to manage the shift if more isn’t done. That’s according to the Australian Energy Market Operator, which today released a draft plan to achieve the transition, in order to meet the federal government’s emissions reduction targets. But energy experts say rising costs and community pushback are making the plan tricky to achieve. Read more

In the context of international climate negotiations, which as realpolitik dictates, deal in the art of the possible, the failure to call for a phase out of coal does not overshadow the clear direction taken by the global community – to back in renewables and step back from fossil fuels. Now we need to see action from Australia in kicking its coal and gas habit. Read more

Our full page Canberra Times op ed with John Grimes, CEO of the Smart Energy Council, Rewiring Australia’s Dr Saul Griffiths, Blair Palese of the Climate Capital Forum, Dr John Hewson and Mara Bun: The prospect of nuclear power generation in Australia is now a live debate. There are a number of barriers that make nuclear unviable as a solution for Australia’s energy transition in a timeframe necessary to respond to the climate, energy and cost-of-living crisis. We need energy, decarbonisation and cost of living solutions this decade. The Intergovernmental Panel on Climate Change recommends a 50 per cent emissions reduction by 2030. As former Chief Scientist Dr Alan Finkel has noted, It is hard to imagine first operation of small modular reactor (SMR) technology before 2040. Read more

In June, Clean Energy Finance’s Tim Buckley set the scene for a new “Solar Pivot”, based on the scale of solar installations and its plunging cost. “The speed of change is momentous. We are seeing combined momentum on three related fronts: rapid ongoing solar price deflation, multifold increases in solar manufacturing capacity and successive record solar deployments. Read more

Tim Buckley of Climate Energy Finance reflects on the commitment by 118 countries to treble their renewable energy and double their energy efficiency by 2030, set out at COP28 summit. He points out that while this ambitious goal is set, much hinges on which year gets used as the baseline. Tim emphasises China’s efforts in increasing their installation rates of wind and solar energy solutions. He sees this pledge as a potential turning point. Read more

Tim Buckley comments for Energy Mix magazine: “China is well on the way to delivering its previous pledge of 1,200 GW of renewables by 2030 up to six years early, so for China to treble its cumulative efforts by 2030 is entirely feasible, given the phenomenal momentum that is already well under way,” said Tim Buckley, director of the Climate Energy Finance think tank. Read more

A better focus for the former prime minister than fending off Brookfield’s ~$30bn of decarbonisation capital that comes with its bid for gentailer Origin would be using his influence to press for reform of the short-term performance test benchmarks that penalise the superannuation industry for investments in future facing, low carbon industries. Read more

Climate Energy Finance said the commitment at COP28 by over 100 countries to triple renewables by 2030 – particularly Australia, US, EU, Canada and Japan – was “excellent”. “Two years ago this would have been seen as next to impossible,” director Tim Buckley said in a statement. “But with China having transformed the world’s (manufacturing) capability to deliver on decarbonisation, this goal will collectively bend the climate trajectory towards what the science clearly dictates.” Read more