RenewableUK’s Post

What next for the CfD? Five simple (ish) reforms that can be done ahead of AR7 opening next Spring to ensure we achieve the massive step change required to meet the stretching 2030 targets. In a nutshell: 1) Revise the parameters to ensure more market reflective - namely reference prices and load factors; 2) Provide clarity by setting clear capacity targets for future auctions aligning with 2030 targets; 3) Increase length of the contract from 15 to at least 20 years; 4) Provide delivery year flexibility (e.g. to help mitigate impacts of delayed grid build out, supply chain, construction risk) to help lower risk -> lower strike prices; 5) Progress no regrets proposals in the AR7 & Future Allocation Rounds to unlock new capacity…(ok there might be few more asks in this bit..) Simples!

AFRY's Independent Market Report for the Australian National Electricity Market (NEM) 2024 Q1 is now available! With an emissions reduction target of 43% below 2005 levels by 2030 and net zero by 2050, Australia continues to intensify its support for renewable energy deployment and clean dispatchable capacity. At the end of 2023, the federal government expanded its Capacity Investment Scheme (CIS) by increasing the clean dispatchable capacity that it would underwrite and now also covering the renewable energy capacity it needs to reach 82% generation share by 2030. Altogether, the CIS will add 32GW of capacities – 23GW of renewables and 9GW of clean dispatchable capacity. This auction scheme complements the ongoing state programs of the NEM states, which paints a clear trajectory for renewable energy deployment in the medium-term. Our latest comprehensive report dives deep into the NEM as we: 🔸 Incorporate the expanded CIS and other key market developments in our latest modelling, including the draft 2024 Integrated System Plan (ISP) and value of emissions reductions, providing market projections for the NEM up to 2060 under three scenarios – High, Central and Low. 🔸 Show the impact on the five price curves in the NEM (one for each region) of their respective renewable energy and storage targets, coal decommissioning timelines, and interconnector upgrades. 🔸 Go beyond current targets and provide our views on the long-term development of the NEM as renewables and storage make up most of the generation mix. For more information about our 2024 Q1 Independent Market Report for the Australian NEM and our other offerings for the Australian market (projections for frequency control ancillary services (FCAS), battery storage revenues, large-scale generation certificates (LGC) and marginal loss factor (MLF) and bespoke modelling or analysis) or to learn about how we can support you in your bidding strategies for the CIS and other auction schemes, please contact Joern Schwinge and Jonathan de la Viña. #makingfuture #energytransition #decarbonisation #NEM

As renewable energy becomes the largest source of electricity in the EU, what lessons can the maritime industry learn to accelerate its own transition to cleaner energy? How can shipping leverage this momentum for greater adoption of renewable technologies? https://lnkd.in/dXUjarTB Via Maritime Executive #RenewableEnergy #CleanEnergy #MaritimeIndustry

The Offshore Renewable Energy (ORE) Technology Roadmap, prepared for Sustainable Energy Authority of Ireland (SEAI) by BVG Associates supported by Beauchamps LLP, has been published. Using Techno-economic modelling, we produced scenarios of technology performance in the Irish market up to 2050. These projections provide a basis for comparing the impact of different deployment pathways. Scenario analysis then identified critical decision points and options for successful implementation. This report concludes that fixed and floating offshore wind should play the dominant role in providing energy from Ireland's ocean. It captures the frameworks for ORE delivery in Ireland, recommending areas for further consideration, informed by international best practice and industry expertise. #offshorewind #floatingwind #Ireland https://lnkd.in/e9NTCdgz

Newly published. This report concludes that fixed and floating offshore wind should play the dominant role in providing energy from Ireland's ocean. It captures the frameworks for ORE delivery in Ireland, recommending areas for further consideration, informed by international best practice and industry expertise. A lot of work to be done by government to make decisions policy and economic conditions attractive.

🌬️ The US Renewable Energy Industry Has the Wind at Its Back 🌞 As a Power and Utilities Tax professional, it's exciting to see the momentum in US renewable energy. Expanded incentives and societal pressure are driving significant growth. Wind and solar dominate, but new technologies are emerging, thanks to the Inflation Reduction Act (IRA). Challenges like supply chain issues, talent shortages, and inflation persist. Our survey with industry leaders highlights both the bright spots and the hurdles we face. Read more in our latest report linked below. #RenewableEnergy #CleanEnergy #Sustainability #IRA #EnergyTransition #ClimateAction

Introducing The Future of Energy in Tasmania Report 🌏⚡🔋 Carbon Zero Initiative (CZI), Cradle Coast Authority (CCA) and the Future Energy Hub (FEH) are excited to unveil our latest research, exploring the opportunities and challenges shaping Tasmania’s energy future. The Future of Energy in Tasmania report charts a pathway to a Tasmanian economy running entirely without fossil fuels - a carbon zero economy, the first of its kind in the world. This comprehensive report uses AEMO's Integrated System Plan (ISP) 2024 Step Change scenario as a baseline. However, this report departs from AEMO assumptions and resulting conclusions where they do not reflect local Tasmanian conditions and expected market developments. Key findings: ⚡ Tasmania requires a major increase in renewable energy production, including: • Three additional wind farms • Three new solar farms • One offshore wind farm • One large battery or pumped-hydro plant • Rooftop solar panels for 120,000 more houses ⚡ The state’s transition to renewables will primarily be driven by the replacement of coal and gas in heavy industrial and commercial sectors. ⚡ The Tasmanian government’s 200% renewable energy target does not account for potential new industrial facilities, large data centers, or increased exports through undersea cables, highlighting the need for a more tailored approach. ⚡ A coordinated effort is crucial to ensure local communities and industries capture the full benefits of renewable energy developments. 💡 Read the full report now: https://lnkd.in/fu_QYAN #TasmaniaEnergyFuture #RenewableEnergy #CleanEnergy #FutureEnergyHub

Call for public ownership in UK renewable energy. Politicians are urged to to mandate consumer ownership in new green energy projects and provide tax relief on energy bill savings from self-owned green power. Ripple Energy Sarah Merrick #renewableenergy #renewables #netzero #sustainability #climatechange #climatecrisis #climateaction #climatesolutions #energycrisis https://lnkd.in/e-5B5byf

Albanese Government Accelerates Renewable Energy in NT with Landmark $250 Million Deal The Albanese Government is fast-tracking the delivery of reliable renewable energy in the Northern Territory, having signed a landmark $250 million deal with the Lawler Government as part of the Rewiring the Nation Program. This investment, through the Clean Energy Finance Corporation (CEFC), will create hundreds of new jobs and upgrade and expand the power grid across the Territory. It will support major transmission projects and strengthen the grid. The Rewiring the Nation investment will also speed up the rollout of transmission projects across the Territory, with the first wave set to be completed before 2030. An agreement has also […] Read the full story here: https://lnkd.in/dJfPBaSB #solarenergy #alternativeenergy #solarpv #pvsolar #photovoltaic #cleanenergy #cleantech #climatechange #albanese #australia #renewableenergy #renewableenergy #solarenergy

CERC's New Regulations: A Boost for #RenewableEnergy in India! The Central Electricity Regulatory Commission (#CERC) has introduced new regulations effective from July 1, 2024, to March 31, 2027, aimed at accelerating the adoption of renewable energy. Here are the key highlights from the CERC Notification: 1. Implementation Period: The regulations under the Central Electricity Regulatory Commission (CERC) Act, 2003, are effective from July 1, 2024, to March 31, 2027. The regulations focus on tariff determination from renewable energy sources, including hybrid projects. 2. #Tariff Determination: The regulations provide a framework for tariff determination for various renewable energy projects. This includes specific provisions for small #hydro projects, #biomass-based power projects, and solar and wind energy projects. The tariff determination aims to promote investment in renewable energy by ensuring reasonable returns on investments. 3. Inclusion of Advanced Technologies: The regulations encourage the adoption of advanced technologies such as energy storage systems, hybrid renewable energy systems, and innovative project designs that can optimize the use of renewable resources and improve efficiency. 4. Promoting Hybrid Projects: Special emphasis is placed on promoting hybrid projects that combine different renewable energy sources, like #solar and #wind, to ensure a more stable and reliable power supply. 5. Financial Provisions: The regulations outline financial provisions, including incentives for efficient power generation and penalties for non-compliance. This includes cost recovery mechanisms and financial support for the adoption of new technologies. 6. Operational Guidelines: The notification includes detailed operational guidelines for renewable energy projects. This covers aspects like grid connectivity, #energystorage integration, and performance standards to ensure the effective implementation and operation of renewable energy projects. 7. **Sustainability and Environmental Impact**: The regulations also highlight the importance of sustainability and minimizing the environmental impact of energy projects. This includes guidelines for the use of biomass and other organic materials in a way that ensures ecological balance. 8. Public and Private Sector Collaboration: The framework encourages collaboration between public and private sectors to foster innovation and accelerate the adoption of renewable energy technologies. #RenewableEnergy #Sustainability #GreenFuture #CERC #CleanEnergy For more details, check out the full notification.