Antinuclear

Starting from practically zero renewable energy, Central America will install over 2.3 gigawatts (GW) over the next five years, a huge advance from the mere 100 megawatts in 2013.

Mexico is by far the leader, with $1.3 billion invested in the first half of 2014, almost double that of 2013. But last year, the other Central American countries combined also saw $1 billion in solar and wind investments. While financing for renewables still isn’t easy, most of the countries are amending policies to encourage greater investment, says Michel Di Capua of Bloomberg New Energy Finance.

Australia’s Government Squashes Renewable Energy

In contrast, Australia is in the midst of killing its renewable energy industry because of its new Prime Minister’s archaic policies.

After repealing the country’s carbon tax, investments dived 70% this year as the government decides whether to also eliminate or scale back the Renewable Energy Target (RET). Year-to-date, just $238 million has been invested in seven projects, the lowest level since 2002, says Bloomberg New Energy Finance.

Over the past year, Australia has dropped from #11 to #31 for investments in large-scale clean energy projects, even lagging  Algeria and Myanmar, New Energy points out.

Last week, rallies across Australia called for the federal government to uphold the country’s commitment to 20% renewable energy by 2020.  Meanwhile, South Australia is moving in the opposite direction. Already running on 32% clean energy – years ahead of its 2020 target – the local government says it will raise its Renewable Energy Target to 50% by 2025. …….

Companies On the Way Out

“We are talking about the destruction of an industry, with no apparent good reason,” Miles George, President of Infigen Energy, Australia’s largest public renewable energy company, toldRenewEconomy. His company could go under within months to be followed by many others, he says.

US-based Recurrent Energy has already closed its Australian office. It’s got 1.5 GW of large scale solar projects in the pipeline – worth around $3 billion – which won’t be developed without the Renewable Energy Target. With markets in other countries booming, many other companies including Acciona, First Solar, Yingli and Goldwind are also threatening leaving.

Solar Systems Pty tabled plans for a 100 MW concentrating PV plant and Suzlon is reconsidering its A$1.5 billion wind farm.

Abbott’s panel that’s reviewing the Renewable Energy Target consists of two climate sceptics and a fossil fuel lobbyist.

Emissions Rise

Immediately after Abbot axed carbon taxes, Australia’s emissions jumped 0.8% in just two months – the most in eight years, due to more use of coal, reports Sydney Morning Herald……….http://www.sustainablebusiness.com/index.cfm/go/news.display/id/25941