National Energy Guarantee

To have any hope of restricting global heating to a maximum of 1.5 degrees Celsius, the renewables success story which saw 108 GW of solar deployed last year needs to be cranked up to the next level – and fast.

More than 70,000 Australian households will install battery storage this year, according to the Bloomberg New Energy Finance. With the nation’s storage demand set to triple, Australia is expected to make up 30% of global demand.

Federal Labor leader Bill Shorten announced the party’s ‘all of the above’ plan for Australia’s energy sector. A ramped-up National Energy Guarantee, project auctions under a CfD structure, grid infrastructure investment, energy efficiency and a boost to battery storage all feature.

Ignoring opposition appeals for cross-party support on clean energy policy ‘because Labor wants to drive up energy prices’ Australia’s ruling coalition will introduce an energy policy that features no emissions reduction targets.

Mixed messages have emerged from today’s meeting between the Australian state and federal energy ministers’ meeting, after what was meant to have been a decisive point for the National Energy Guarantee (NEG) policy measure. Fundamental opposition from some states under Labor governments exists, however an agreement to release the draft legislation was reached – after it passes the test of the Federal Liberal party room.

As the debate heats up before Friday’s meeting between federal, state, territory and local government energy ministers in Australia, the Victoria authority has issued a last-minute call to redraft the proposed National Energy Guarantee, and the Australian Capital Territory has redefined its NEG approval condition with regard to the emissions target. Meanwhile, Australia’s energy bodies have taken separate paths.