{"id":18502,"date":"2018-01-19T05:04:12","date_gmt":"2018-01-18T18:34:12","guid":{"rendered":"https:\/\/www.solarquotes.com.au\/blog\/?p=18502"},"modified":"2018-01-19T15:02:33","modified_gmt":"2018-01-19T04:32:33","slug":"australian-renewable-energy-investment-mb0421","status":"publish","type":"post","link":"https:\/\/www.solarquotes.com.au\/blog\/australian-renewable-energy-investment-mb0421\/","title":{"rendered":"Australia A Standout In Renewable Energy Last Year, But…"},"content":{"rendered":"
\"Clean

Image: Seagul<\/a><\/p><\/div>\n

Australia was a star performer in renewable energy investment last year says Bloomberg New Energy Finance (BNEF)\u00a0 – but it warns clouds may be gathering.<\/p>\n

Clean energy racked up USD $333.5 billion in investment around the world in 2017, up 3% from 2016 and the second highest annual figure ever states BNEF. Cumulative investment since 2010 has reached a whopping USD $2.5 trillion.<\/p>\n

While solar power has seen substantial cost reductions, the amount invested globally last year was up 18% on 2016, reaching $160.8 billion – with over half of that figure spent in China. BNEF estimates 53GW of PV capacity was installed in China last year \u2013 up from 30GW in 2016.<\/p>\n

China may have stolen the limelight in 2017, but Australia was certainly punching above its weight in the global ring and setting a new national record.<\/p>\n

“Large wind and solar project financings pushed Australia up 150% to a record USD $9 billion1<\/a><\/sup>,” states<\/a> BNEF. Investments in 4.2GW of large scale projects were committed last year and around a gigawatt of rooftop solar power<\/a> installed.<\/p>\n

\"Renewable<\/p>\n

A Potentially NEGative Situation<\/h2>\n

As others have previously warned, BNEF has flagged the road ahead for renewables may not be so bright and breezy.<\/p>\n

“After 2020 when the current renewable energy target is met, investment under federal policies would likely fall off a cliff, because the national energy guarantee, as currently floated by the Federal Government, would require very little effort to achieve,” said BNEF’s Australian head Kobad Bhavnagri in an interview<\/a> with ABC’s RN Breakfast.<\/p><\/blockquote>\n

The Climate Council has seized on the comments.<\/p>\n

\u201cAs 2018 gets underway, credible and serious Federal climate and energy policy is crucial to encourage investment in renewables and slash our rising pollution levels,” said <\/a>Climate Council CEO Amanda McKenzie.<\/p>\n

“Unfortunately the proposed National Energy Guarantee could do exactly the opposite, with studies showing negligible renewable energy growth under the scheme.\u201d<\/p><\/blockquote>\n

The NEG<\/a> may never get across the line. In late November last year, South Australian Energy Minister Tom Koutsantonis pointed out<\/a> it will require unanimous support at COAG. Given hostility towards it from some corners (including SA), Minister Koutsantonis believes the “policy is either years away, or won\u2019t happen at all.”<\/p>\n

Economic modelling from Ernst and Young in November suggested 20,000 potential jobs could be forfeited under the NEG and Doctors for the Environment Australia stated it would encourage continued burning of fossil fuels<\/a>.<\/p>\n

Perhaps that’s what Alinta Energy is quite literally banking on when making recent claims that its newly acquired asset, the brown-coal fired Loy Yang B power station in Victoria, will be viable for another three decades<\/a> 2<\/a><\/sup>.<\/p>\n

The time spent in bickering over the NEG could also leave a void, but the wind and solar juggernaut may still rumble on and push out more coal, driven by state-based targets and continuing decreases in the cost of large-scale renewables-based electricity.<\/p>\n

What About Home And Small-Scale Commercial Solar?<\/h2>\n

As for small-scale renewables support, such as the “rebate<\/a>” for installing solar panels<\/a>, hopefully the scheme isn’t further tinkered with in a way that could negatively impact it. This apparently can be done<\/a> at the Energy Minister’s discretion without requiring legislative changes.<\/p>\n

The out-of-pocket cost of going solar is still decreasing even though Australia’s major subsidy is already being gradually phased out<\/a>, thanks in part to a rebound in STC prices (on which the subsidy is calculated), which vary according to market conditions.<\/p>\n

In late December, we reported the Clean Energy Regulator expects the small-scale technology percentage<\/a> to increase in 2018, boosting STC demand<\/a> – but stresses this is not guaranteed. The decision on the percentage will be made by Minister for the Environment and Energy Josh Frydenberg by the end of March.<\/p>\n","protected":false},"excerpt":{"rendered":"

Australia was a star performer in renewable energy investment last year says Bloomberg New Energy Finance (BNEF)\u00a0 – but it warns clouds may be gathering.<\/p>\n","protected":false},"author":17,"featured_media":18504,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[678],"tags":[],"class_list":["post-18502","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-solar-battery-news","entry"],"acf":[],"yoast_head":"\nAustralia A Standout In Renewable Energy Last Year, But...<\/title>\n<meta name=\"description\" content=\"Australia was a star performer in renewable energy investment last year says Bloomberg New Energy Finance (BNEF) - 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India has seen a 117% compound annual growth rate in rooftop PV since April 2013 and 715MW of rooftop solar was installed this financial year.\u2026","rel":"","context":"In "General Solar & Storage News"","block_context":{"text":"General Solar & Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"Rooftops solar power in India","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2017\/11\/india-rooftop-solar.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2017\/11\/india-rooftop-solar.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2017\/11\/india-rooftop-solar.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2017\/11\/india-rooftop-solar.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":17155,"url":"https:\/\/www.solarquotes.com.au\/blog\/developing-nations-solar-mb0333\/","url_meta":{"origin":18502,"position":1},"title":"Developing Nations Powering Ahead On Solar","author":"Michael Bloch","date":"November 29, 2017","format":false,"excerpt":"34 gigawatts of new solar capacity commenced generation in 2016 in developing nations according to the latest Climatescope survey, enough to power every home in Nigeria or Peru. 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A new report says plowing dollars into renewables rather than fossil fuels will buy more generation capacity than ever and provide stronger action on a major threat to the\u2026","rel":"","context":"In "General Solar & Storage News"","block_context":{"text":"General Solar & Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"COVID-19 economic recovery - renewable energy","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/06\/unep-renewable-investment.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/06\/unep-renewable-investment.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/06\/unep-renewable-investment.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/06\/unep-renewable-investment.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/06\/unep-renewable-investment.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":27504,"url":"https:\/\/www.solarquotes.com.au\/blog\/renewable-energy-ppa-mb0917\/","url_meta":{"origin":18502,"position":3},"title":"New Record Set For Corporate Clean Energy PPAs In 2018","author":"Michael Bloch","date":"January 29, 2019","format":false,"excerpt":"BloombergNEF (BNEF) reports corporations across the world entered into agreements covering 13.4GW of renewable energy capacity in 2018, more than double 2017's figure of 6.1GW. BNEF states clean energy contracts were signed by 121 corporations in 21 different countries over the course of last year. More than 60% of the\u2026","rel":"","context":"In "General Solar & Storage News"","block_context":{"text":"General Solar & Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"Renewable Energy Power Purchase Agreements","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2019\/01\/renewable-ppa.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2019\/01\/renewable-ppa.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2019\/01\/renewable-ppa.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2019\/01\/renewable-ppa.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2019\/01\/renewable-ppa.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":80254,"url":"https:\/\/www.solarquotes.com.au\/blog\/bloomberg-battery-price-falls\/","url_meta":{"origin":18502,"position":4},"title":"Breaking the $140 Barrier: BNEF Reports Record Low Battery Prices","author":"Richard Chirgwin","date":"November 28, 2023","format":false,"excerpt":"Battery prices have begun falling again after rising during 2022, according to Bloomberg New Energy Finance (BNEF). According to analysis announced yesterday, BNEF says average lithium-ion battery pack prices have dropped to US$139 per kilowatt-hour after ending last year, hitting $161\/kWh. The US$139\/kWh price represents a record low, BNEF says.\u2026","rel":"","context":"In "General Solar & Storage News"","block_context":{"text":"General Solar & Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"tesla battery cell manufacturing","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2023\/11\/battery-manufacturing.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2023\/11\/battery-manufacturing.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2023\/11\/battery-manufacturing.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2023\/11\/battery-manufacturing.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2023\/11\/battery-manufacturing.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":20661,"url":"https:\/\/www.solarquotes.com.au\/blog\/solar-investment-australia-mb0535\/","url_meta":{"origin":18502,"position":5},"title":"Australian Renewable Energy Investment Up 147 Per Cent","author":"Michael Bloch","date":"April 9, 2018","format":false,"excerpt":"Renewable energy investment in Australia jumped 147% last year to a record USD $8.5 billion (around AUD $11 billion at current exchange rates) - and solar power accounted for more than half that figure. The Global Trends in Renewable Energy Investment 2018 report was released last Thursday by the UN\u2026","rel":"","context":"In "General Solar & Storage News"","block_context":{"text":"General Solar & Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"Solar investment in Australia","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/04\/solar-investment-australia.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/04\/solar-investment-australia.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/04\/solar-investment-australia.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/04\/solar-investment-australia.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/posts\/18502","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/users\/17"}],"replies":[{"embeddable":true,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/comments?post=18502"}],"version-history":[{"count":4,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/posts\/18502\/revisions"}],"predecessor-version":[{"id":18526,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/posts\/18502\/revisions\/18526"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/media\/18504"}],"wp:attachment":[{"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/media?parent=18502"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/categories?post=18502"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/tags?post=18502"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}