Alan Kohler is one of Australia’s most experienced business commentators. Alan has been a trusted source of investment advice to Australians for many years, and in 2005 he founded Eureka Report - Australia’s #1 online investment report. Along with Robert Gottliebsen and Stephen Bartholomeusz, Alan also founded Business Spectator, the popular business news and commentary website. Alan is the regular finance presenter on the ABC News and producer of the popular nightly graph (or two).
The latest CEDEX electricity report now incorporates data on solar generation, which alongside hydro manages a rise in generation as coal stalled. This brought a halt to what had been a steady rise in emissions since the carbon price was axed.
The renewable energy certificate market is booming, yet retailers aren’t much interested in bringing on new supply. Origin’s credit problems provide a new insight into why, but it can’t explain AGL’s contradictory climate stance.
It appears Greg Hunt now has responsibility for the Clean Energy Finance Corporation and the Australian Renewable Energy Agency. It likely signals that Turnbull will quietly dump attempts to abolish the agencies and the Government’s ideological crusade against renewable energy.
In 1962, President Kennedy delivered one of history's most inspiring speeches asking his people to each sacrifice 50 cents per week in order to achieve an amazing scientific and engineering feat that they weren't even sure was possible, requiring technologies that didn't yet exist. We sorely need that same leadership today, not to reach the moon but to save our planet.
We face an immense threat from climate change, yet renewable energy receives less than 2% of publicly funded R&D. A concentrated global technological research effort like the Apollo Program to make renewable energy as reliable and cheap as coal is required.
Origin's chief executive says Queensland can expect a boom in utility-scale solar projects in order to meet the Renewable Energy Target. But his timing seems out by a few years, as the current data suggests he should be signing-up wind projects instead.
The energy cartel are again claiming disaster is around the corner for renewable energy unless government provides an 'orderly exit' for other generators (i.e. a bribe). But the market for renewable certificates is doing precisely what's required, even showing immunity to nasty comments about wind farms.
Energy Australia's new CEO has joined AGL in declaring that unless government shuts coal they can't justify investing to meet the recently downsized Renewable Energy Target. Yet it is far cheaper to buy power from wind than pay the scheme's penalty - so what's going on here?
Wind turbine makers Vestas, Gamesa and Nordex have seen big rises in share prices on the back of healthy orders but offshore wind remains too expensive. Meanwhile Audi has unveiled a 500km range all electric SUV.
Government wants no less than 20 per cent of power from renewable energy by 2020, but it is extremely vague on what it will do, if anything, to achieve it. The cynic in me suggests their policy might be to just stare really crossly at the Abbott Government.
Origin's CEO King says if anything Renewable Energy Target will be increased in future and shows economics for new renewable energy projects are compelling. Could spooked investors be missing an opportunity?