http://www.energytoday.com.au/news News highlights from Australia and the world. en-au http://www.energytoday.com.au/news PHP/5.2.6 http://www.energytoday.com.au/news/#a83 Professor Ross Garnaut has released his supplementary draft report on interim targets and trajectories for Australia's emissions trading scheme. The review recommends a target of 550 ppm CO2 by 2050, as a more ambitious target such as 450 or 400 ppm, needs to wait for more widespread engagement by both developed and developing countries. Under the 550 ppm target, Australia should target a 10% reduction of emissions in 2020 from 2000 levels, moving to an 80% reduction by 2050. The price of permits would be about $23 in 2013 rising at an annual rate of 4% above CPI. Thu, 04 Sep 2008 23:09:10 -0500 http://www.energytoday.com.au/news/#a83 http://www.energytoday.com.au/news/#a82 WorleyParsons, a major energy engineering company, has announced plans for building a 250 MW solar thermal power plant in Australia. The location for the plant has not yet been decided. Using molten salt to store excess thermal energy, the plant would be able to provide power well after the sun has gone down. If successful, the company says an additional 33 plants could be built by 2020. Tue, 12 Aug 2008 18:23:06 -0500 http://www.energytoday.com.au/news/#a82 http://www.energytoday.com.au/news/#a81 The federal government has released a green paper outlining its approach to an emissions trading scheme. As expected, emissions-intensive trade-exposed businesses such as aluminium, steel and cement industries will get free permits to pollute, and motorists will not carry any extra burden for at least 3 years, during which excise will be adjusted to offset a carbon price. The coal-fired generators will also be compensated with a special package to help offset the cost of carbon. This will be provided through a new mechanism called the Electricity Sector Adjustment Scheme (ESAS). The paper also argues that it is not practical at this stage to include agriculture emissions in the trading scheme at startup, so the government has decided that the earliest that agriculture should enter the scheme would be 2015, with a final decision on inclusion or exclusion to be made in 2013. For scheme caps, its preferred position is to provide a rolling five year cap trajectory, with gateways ten years further out, providing a range of possible trajectories with upper and lower bounds. Tue, 15 Jul 2008 23:48:09 -0500 http://www.energytoday.com.au/news/#a81 http://www.energytoday.com.au/news/#a80 A CSIRO report, Fuel for thought – The future of transport fuels: challenges and opportunities, predicts Australia will be forced to manage its response to reducing greenhouse gas emissions and the risk of increasing costly and scarce oil supply simultaneously rather than sequentially. Modelling projected that if international oil supply continues to grow steadily, petrol and diesel prices will experience only a slight rise on present levels. However, if there is a near-term peak in international oil production resulting in declining future oil supplies, petrol prices could increase to between A$2 and as much as A$8 per litre by 2018. Thu, 10 Jul 2008 19:22:58 -0500 http://www.energytoday.com.au/news/#a80 http://www.energytoday.com.au/news/#a79 The draft report into emissions trading by Ross Garnaut has called for a rapid implementation of an emissions trading scheme, which includes transport from the outset, but would phase in agriculture. The draft report does not include the results of the economic modelling, which will be released later. Fri, 04 Jul 2008 06:41:20 -0500 http://www.energytoday.com.au/news/#a79 http://www.energytoday.com.au/news/#a78 A new report from the United Nations Environment Programme and New Energy Finance confirms that sustainable energy is now a mainstream and accelerating investment sector. In 2007, wind power attracted more investment than nuclear or hydro, and accounted for more new generation capacity in Europe than any other power source. Investment in clean energy sources reached $148 billion in 2007. Wed, 02 Jul 2008 05:26:30 -0500 http://www.energytoday.com.au/news/#a78 http://www.energytoday.com.au/news/#a77 Australia's net greenhouse gas emissions fell slightly in 2006 according to the latest figures from the Department of Climate Change, but emissions from energy production continue to grow strongly, and reached 400 million tonnes CO2-e for the first time. The land use, land use change and forestry sector provided 12 million tonnes of savings which offset strong growth in the stationary energy sector. Mon, 23 Jun 2008 23:20:45 -0500 http://www.energytoday.com.au/news/#a77 http://www.energytoday.com.au/news/#a76 Global demand for energy has continued to grow strongly - up 2.4% in 2007, according to the latest BP Statistical Review of World Energy. Half of this growth was due to China, and two thirds of the growth was driven by demand from the Asia-Pacific region. However energy demand in the EU was down, with Germany showing the largest decline in energy consumption. Sun, 15 Jun 2008 19:06:41 -0500 http://www.energytoday.com.au/news/#a76 http://www.energytoday.com.au/news/#a75 The 2008 federal budget commits $2.3B to energy and climate change programs over the next 4 years, including; $500M for a Renewable Energy Fund, $500M for a National Clean Coal Fund, and $150M for an Energy Innovation Fund. The Energy Innovation Fund will support the creation of an Australian Solar Institute and support solar thermal and solar PV research and development as well as a new program targeted at general clean energy research and development, including energy efficiency, energy storage technologies and hydrogen transport fuels. Tue, 13 May 2008 06:22:13 -0500 http://www.energytoday.com.au/news/#a75 http://www.energytoday.com.au/news/#a74 Leading NASA climate change expert James Hansen has written a letter to Australian Prime Minister Kevin Rudd calling for leadership in halting the introduction of new coal-fired power plants that don't include carbon capture and storage. The letter commends the interim Report of Professor Ross Garnaut and suggests that action by Australia could provide a tipping point for much greater action from the rest of the world in reducing carbon emissions. Tue, 08 Apr 2008 22:09:51 -0500 http://www.energytoday.com.au/news/#a74