1. Unsubsidised wind and solar now cheapest form of bulk energy
That is the case in all major economies except Japan, according to BNEF. From RenewEconomy:
The latest report says the biggest news comes in the two fastest growing energy markets, China and India, where it notes that “not so long ago coal was king”. Not any more.
“In India, best-in-class solar and wind plants are now half the cost of new coal plants,” the report says, and this is despite the recent imposition of import tariffs on solar cells and modules. Continue reading Climate clippings 228→
Big investors have slammed the Morrison government’s “big stick” approach to the electricity sector, saying any move to force companies to cut prices will have a major impact on profits, future investment and result in less competition in the long term. Continue reading Big investors slam ‘big stick’ approach→
“The more the government do things, the more private investors hold back. The more private investors hold back, the more there is a need for government to do things,” he told The Australian Financial Review.
“You get in a position where, looking out several years, the market as we know it disintegrates. When that happens you need very, very deep pockets to fill the gap.”
That was the headline in the dead tree version of the AFR. Bill Ferris is the outgoing Science and Innovation Australia chair. He says he didn’t find the Coalition government’s rewriting of the ACCC report to support coal-fired power a helpful signal, but:
what I am seeing – and you see it in the US as well – is that business and state governments are getting on with alternative energy sources, mainly renewables and storage,” said Mr Ferris, a veteran venture capitalist.
The last Climate clippingswas on July 2. Time to get back on the bike. Unfortunately this edition is not full of good news, apart from the prospect of eating the carcasses and droppings of bacteria feeding on hydrogen (see # 5). Next time I’ll try to catch up with some climate action.
Scott Morrison put in a fine effort to stop the votes that would have retained Wentworth for the Liberals. And he succeeded. Now he seems intent on stopping the $200 billion worth of investment that will be needed to transform the electricity sector.
In Brazil’s first-round election on October 7, far-right candidate Jair Bolsonaro outperformed what polls predicted to win 46% of the vote — less than 5 points short of an outright victory. His top rival, left-leaning Fernando Haddad, earned 29%. The two will face each other in an October 28 runoff.
Cartoonist Mark David shows how Scott Morrison applied his proven skills in the Wentworth by-election:
Many commentators including Laura Tingle, talking to Phillip Adams, said the numerous own goals from the Coalition prior to the election turned enough votes away from the Liberal candidate David Sharma and towards Kerryn Phelps for the latter to win. The latest count shows Phelps ahead 51/49 two party preferred, with Phelps coming from a first preference count of 29.1% as against Sharma of 43.2%. Continue reading Wentworth a tipping point?→