Ember's report highlights how firmed solar is now cheaper than new gas power capacity in Asia, and electrifying road transport could save $US300 billion in oil imports. Asia's dependence on fossil fuel imports costs $US1.1 trillion annually, despite having vast solar and wind resources. The region's manufacturing dominance in solar panels, batteries, and wind turbines positions it to transition to electrotech and reduce fuel import dependency. Solar plus batteries are already cheaper than LNG in most of Asia, with predictions that they will outcompete LNG everywhere in Asia by 2030. With solar plus battery power addressing the supply side and EVs solving the demand side, Asia could save over $300 billion a year in oil imports and halve its oil imports within twenty years by electrifying its fleet.
Author: Reneweconomy.com
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Chart of the Day: Farewell King Coal, long live King Solar (and wind and batteries)
In 2025, the world saw a significant shift towards renewable energy with 814 GW of new solar and wind capacity installed, surpassing the 158 GW of gross fossil fuel capacity. This transition has resulted in renewables overtaking coal in global electricity production for the first time, marking the end of the era of King Coal. Solar energy is leading the fastest shift in electricity generation in history, signaling the arrival of the age of King Solar, Wind, and Batteries. The trend towards renewable energy is still accelerating, highlighting the importance of continued investment and innovation in climate solutions.
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Golden moment: Australia’s biggest wind farm becomes first to reach 1 GW of output
Australia's Golden Plains wind farm has made history by exceeding one gigawatt of electricity generation output, becoming the nation's largest wind farm with up to 1.3 gigawatts of capacity. This clean, renewable energy source is not only lowering electricity bills for Australians but also bolstering Victoria's power system. Plans for further expansion and the addition of a large battery storage facility indicate a commitment to sustainable energy solutions and a significant step towards a greener future in Australia.
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Australia endorses ambitious new global electrification target to hasten exit from fossil fuels
Australia's energy and climate minister, Chris Bowen, has endorsed a new global electrification target of 35% by 2035 to accelerate the transition away from fossil fuels and meet climate goals. The initiative, announced at the UN's interim climate talks in Bonn, aims to increase the share of final energy demand met by electricity from 20% to 35% by 2035, based on analysis from the IEA and IRENA to support the Paris Agreement and limit warming to 1.5°C. The COP31 Presidency, led by Türkiye's minister Murat Kurum, will work with countries to facilitate access to technical assistance and financial support to achieve the electrification goal, which was welcomed for its potential to lower energy costs, increase energy security, and reduce emissions. Other initiatives from COP28 and COP29 include tripling renewable energy capacity, expanding energy storage, modernizing electricity grids, mobilizing $300 billion annually by 2035 for action in the developing world, halving global waste growth, and increasing energy efficiency in buildings by at least 25% by 2035.
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Australia’s biggest solar-battery hybrid project secures grid connection approval
Ark Energy has secured grid connection approval for the Richmond Valley solar farm and battery project in Australia, which will be the largest of its kind in the country. The project will feature 500 MW of solar capacity and 475 MW of battery power with 8 hours of storage, with the first phase including a 200 MW solar farm and a 275 MW/2,200 MWh battery energy storage system using lithium-iron phosphate technology. This approval will greatly contribute to electricity supply and grid stability in New South Wales and the National Electricity Market, showcasing a significant step towards sustainable and renewable energy solutions.
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Capital and carbon: Australian green finance pioneer Martijn Wilder honoured in King’s birthday awards
Martijn Wilder, a leader in sustainable finance and climate law, is focused on unlocking green capital through innovative financial tools. He has been recognized for his work in sustainable finance and is currently leading climate investment firm Pollination, playing key roles in public finance institutions to grow renewable energy in Australia. Despite global geopolitical challenges, Wilder remains optimistic about Australia's transition to a more innovative and resilient economy in the face of climate change.
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Anatomy of a renewable finance deal: Developer lands equity for state’s largest solar-battery hybrid
Frontier Energy has secured agreements for equity to cover a third of the cost of the largest solar-battery hybrid project in Western Australia, consisting of a 132 MW solar plant and an 81.5 MW battery storage system. The company has received firm commitments for $110 million in new equity and is working towards securing additional funding. The Waroona project is expected to generate revenue from reserve capacity contracts, energy sales, and other services, with a focus on selling excess output from the battery and solar farm. Additionally, the company is planning to expand the renewable energy facility to potentially reach 1,000 MW and 660 MW of battery capacity, aiming to create a major renewable energy precinct in the South West of WA to contribute to clean energy solutions and reduce carbon emissions in the area.
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Remote control robots that talk to each other are building solar farms in Australia
Luminous Robotics and other companies are utilizing remote-controlled robots to install solar panels at various projects in Australia, aiming to increase efficiency and productivity in the renewable energy sector. ARENA is working towards reducing the cost of large scale solar to below $20/MWh and improving cell efficiency by 30% by 2030, advancing clean energy solutions. The use of robotics in solar farm construction is seen as a solution to address the scarcity of human labor and reduce costs, with companies like Trinasolar and Leapting also exploring this technology.
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Tesla Energy boss on energy abundance, EVs, V2G and big and small batteries
Tesla Energy's Asia Pacific boss Josef Tadich emphasizes the abundance of solar energy, the significance of batteries in different sizes, the increasing popularity of electric vehicles, and the introduction of vehicle-to-grid technology (V2G). The interview underscores the crucial role of renewable energy solutions in the energy sector and the potential for advancements in sustainable transportation.