IEEFA Update: A national EV policy and other steps towards electrifying Australia

The sun will power much of our future – policy and regulation for electrifying Australia must embrace distributed energy resources

Amid global coal and gas price volatility, electrifying Australia via rooftop solar is the clear winner in the race to lowest cost energy. Critics who claimed economies of scale were lacking when Australia started subsidising household rooftop solar, maintaining the focus should be on large-scale solar, overlooked the economics of co-location generation and load. Put […]

IEEFA Update: How India’s clean energy drive is supercharged by Reliance’s grand ambitions

Critical mass of investment boosts India's clean energy value chain, delivers significant localisation while deploying disrupt-and-dominate strategy

With more than 100 gigawatts (GW) of renewable energy on its grid, India is now commencing what some energy industry experts are referring to as chapter 3 of its clean energy story. Chapter 1 began in 2010 when the government set a 20GW solar capacity target by 2020 under the National Solar Mission. In Paris […]

November 30, 2021 Read More →

IEEFA Update: India’s coal crisis produced twin glaring conclusions – coal is expensive and unreliable

The coal crisis must accelerate the push for renewables – and solar is now the prime low-cost source of electricity in India

A key takeaway from India’s coal crisis is the urgent need for the country to accelerate its transition to a secure, reliable and low-emissions electricity system. India faced huge coal shortages from mid-August to October 2021. Monsoons impact Coal India Ltd. (CIL) production every year, but this year was different – India witnessed an extended […]

November 30, 2021 Read More →

IEEFA Australia: How fossil fuel subsidies are thwarting Queensland’s renewable energy ambitions

Acceleration is needed on 50%-by-2030 target but Federal Government undermining private investment in zero-emissions capacity

Queensland has made strong progress in driving electricity sector decarbonisation with renewable energy’s share trebling to 21% over the last four years. However, a Queensland Audit Office report released this week wants the state to go faster, calling for accelerated action and a public roadmap to ensure the government’s ambitious 50% renewable energy target for […]

November 26, 2021 Read More →

IEEFA: The Goldilocks predicament: For oil and gas, there are no “just right” prices

Low oil and gas prices killed profits, but high prices are killing demand

North America’s oil and gas sector is patting itself on the back for dramatic improvements in its financial performance last quarter. With prices at a seven-year high, fossil fuel companies are finally generating cash—and stock market investors are rewarding them with rising equity prices and glowing reviews. But today’s market has also exposed a long-term […]

IEEFA: BlackRock has moved rapidly on climate – but Adani exposures remain a major obstacle

A glaring inconsistency in the US$10 trillion giant’s commitment to climate action

One of the successes of the COP26 summit was the growth in the UN-convened Glasgow Financial Alliance for Net Zero to a US$130 trillion of collective assets, almost double the total of just six months ago. Enforcement of the substance of this pledge comes next. And within that, BlackRock has moved massively on the issue of climate […]

November 19, 2021 Read More →

IEEFA India: Developed countries will have to massively scale up climate finance

The US$100 billion a year pledge is nowhere near enough to meet the Paris targets

The COP26 summit in Glasgow saw big carbon-emitting countries including India commit to net zero emissions (NZE) and a deal between the U.S and China, the two biggest emitters, to ramp up climate cooperation, including reducing methane emissions as an urgent priority, protecting forests and phasing down coal. However, despite major breakthroughs, the conference has failed […]

IEEFA U.S.: New Mexico pushes plan to pivot from heavy dependence on oil and gas industry

Report urges diversifying to shift from boom-and-bust cycles driven by fossil fuels

New Mexico has announced a major realignment of its economic development program that calls for reducing reliance on oil and gas production. One of its six major goals is to shift the economy from its dependence on just a few key industries, including government, retail, and oil and gas. The plan represents an important and […]

November 18, 2021 Read More →

IEEFA Poland: PZU’s stance on coal makes no sense either for Paris Agreement or for its shareholders

From environmental and business perspectives, PZU still insuring coal is at odds with its share price - and its peers

Poland’s largest insurer, PZU, stands out among European insurers — for the wrong reason. It is conspicuous in still insuring coal when almost all of its European peers are exiting coal. This action goes against all of the objectives of the UN Paris Agreement to phase out fossil fuels by 2050. We know that this […]

IEEFA Update: Renewable energy offers immediate solution to India’s persistent clean cooking challenge

Leapfrogging over major investment in gas imports

India has made considerable progress in the transition to clean cooking. But close to 35% of the population continues to depend on firewood, wood chips, crop residue, dung cakes and other polluting solid fuels for cooking, which are hazardous to health and the environment. In the immediate term, with 99.99% of households electrified and 92.02% with a […]