24 March 2016, Renew Economy, Five things we learned about Malcolm’s attempts not to be Tony. Plus ça change. The more it changes, the more it stays the same. And that ageless expression seems to apply with Malcolm Turnbull’s desperate efforts to convince people that he is not Tony Abbott, that he is not the sword carrier for Abbott’s policies as his predecessor suggests, and that he is not a slave to the conservative rump of his party. This week, Turnbull turned to clean energy to show that his spots are not the same as Abbott’s. If publicity and headlines are the main indicators, it has been a smashing success. Mainstream media has lapped it up: “PM’s climate of change,” hoorayed Fairfax. “Coalition saves two clean energy funds,” chorused the ABC. “PM tilts at green windmills,” booed the Murdoch media. (That editorial is probably worth a complete dissection on its own, so many errors, misconceptions and prejudices in such a few short paragraphs, but time is not infinite). But what really happened this week? In the face of opposition in the Senate, Turnbull bowed to the inevitable and decided to keep the Clean Energy Finance Corporation. That is good. And that is change. The CEFC – once decried by its newest biggest supporter, environment minister Greg Hunt as a great big green hedge fund – has been behind many of the most important new clean energy projects and initiatives in the country, underwriting finance for large-scale solar projects, innovative solar thermal installations, battery storage trials, and any amount of energy efficiency and rooftop solar support. And in doing this it has also delivered a significant return to the government. Hunt should now feel free to turn up at one of its project openings. Turnbull then took $1 billion out of the CEFC kitty and rebadged it with his favourite buzzword, “innovation” and claimed the creation of a “new” thing called the “Clean Energy Innovation Fund”. But it does not represent new funding. Read More here
Tag Archives: Renewables
23 March 2016, Energy Post, Dispelling the nuclear baseload myth: nothing renewables can’t do better. The main claim used to justify nuclear is that it’s the only low carbon power source that can supply ‘reliable, base load electricity. But not only can renewables supply baseload power, they can do something far more valuable: supply power flexibly according to demand, writes Mark Diesendorf, Associate Professor of Interdisciplinary Environmental Studies at UNSW Australia. That, says Diesendorf, makes nuclear power really redundant. We have all heard the claim. We need nuclear power because, along with big hydropower, it’s the only low carbon generation technology that can supply ‘reliable baseload power’ on a large scale. For example, the UK Energy Secretary Amber Rudd, attempted to justify the decision to build the proposed Hinkley Point C nuclear power station on the grounds that “we have to secure baseload electricity.” Similarly, former Australian Industry Minister Ian Macfarlane recently claimed at a uranium industry conference: “Baseload, zero emission, the only way it can be produced is by hydro and nuclear.” Underlying this claim are three key assumptions. First, that baseload power is actually a good and necessary thing. In fact, what it really means is too much power when you don’t want it, and not enough when you do. What we need is flexible power (and flexible demand too) so that supply and demand can be matched instant by instant. Read More here
23 March 2016, Renew Economy, Turnbull’s sleight of hand on clean energy investment. Prime Minister Malcolm Turnbull has put his own stamp on clean energy investment in Australia, dumping Coalition plans to scrap the Clean Energy Finance Corporation, but announcing new plans to essentially de-fund the Australian Renewable Energy Agency and replace it with a new “Clean Energy Innovation Fund.” The retention of the CEFC will be welcome and signals a potential shift from the anti-renewable policy stance of the Abbott regime that preceded him. But the move to de-fund ARENA and create a “new” fund using money already allocated to the CEFC is nothing but a sleight of hand, and an elaborate ruse by Turnbull to save more than a $1.3 billion and get his new pet-word “innovation” included in a financing scheme. It may also be designed to meet Australia’s Paris commitment to invest “new money” in clean energy innovation. But the move may back-fire, because although the new set-up will continue to support near commercial projects, the technologies and ideas at the formative stage of the innovation process may be left stranded, without funding. According to the former chairman of ARENA, Greg Bourne, Australian innovation may move overseas to get the necessary support. So much for the innovation nation. The Turnbull government has been showing less interest in ARENA, and its cost to the budget, and over the last few months has allowed not renewed contracts for directors, and allowed it to narrow to a single director, the head of Greg Hunt’s environment department. ARENA will continue to manage its current projects, and complete its $100 million funding program for large scale solar projects. But after that its funding will be stopped and it will effectively be morphed – along with its staff – into an annexe of the CEFC and the new fund. Under the new plan hatched by Turnbull and Hunt, ARENA’s grants-based funding strategy will be replaced by “innovative” finance such as debt and equity funding – effectively lending money and buying shares in the investments. Read More here
22 March 2016, Reuters, Australia announces A$1 billion clean energy fund, in break with past. Australian Prime Minister Malcolm Turnbull on Wednesday said the country would establish a A$1 billion ($761.60 million) clean-energy innovation fund, in a major departure from his predecessor’s much maligned approach to combating climate change. Conservative former Prime Minister Tony Abbott was criticized by environmental groups for lagging behind other advanced economies when he announced cuts to Australia’s greenhouse gas emissions last year. Abbott, a climate change skeptic who was ousted in a party coup by Turnbull in September, also faced criticism for his strong support for the coal industry and for scrapping an ambitious carbon tax and emissions trading plan in 2014. Turnbull said the new fund would focus on investing in high-tech clean energy technologies. “What that is going to do is every year invest A$100 million in the smartest, most cutting edge Australian clean-energy technologies and businesses to ensure that we … play our part in cracking the very hard problems, the challenging technical difficulties that we face in terms of reducing emissions,” he told reporters. Abbott pledged that the world’s largest exporter of coal and iron ore would cut emissions by 26-28 percent of 2005 levels by 2030, a target he submitted as part of negotiations on a global climate deal in Paris last year. Abbott also sought and failed to scrap the country’s Clean Energy Finance Corporation and the Australian Renewable Energy Agency, which Turnbull said on Wednesday would be retained. Australia is one of the largest carbon emitters on a per capita basis due to its reliance on coal-fired power plants, and critics say it has done little to match ambitious targets set by the United States and Europe. Read More here