Antinuclear

Australian news, and some related international items

Clean Energy Seed Fund raises $26m – a “vote of confidence” in sector 

REneweconomy, By Sophie Vorrath on 24 May 2017 The Clean Energy Seed Fund established just under a year ago as the first investment of the Coalition government’s re-badged Clean Energy Innovation Fund, has this week completed a $26 million capital raising, easily surpassing its $20 million target.

The fund’s manager, Artesian Venture Partners, said on Wednesday that the bumper capital raising included $10 million commitments from cornerstone investor the Clean Energy Finance Corporation (CEFC) and Australian Ethical Investment, and further investments from Hostplus and Future Super.

Launched in September 2016 with a $10 million cornerstone commitment from the $1 billion CEIF, the fund was set up to focus on clean energy sub-sectors including the internet of things, battery storage, biofuels and metering and control.

It aims to provide “pull-model” venture capital support to encourage greater investment and participation in the early-stage cleantech sector and co-investment from a wide range of investors, including high net worth individuals, angel investors, venture capital firms, corporates and institutions.

In the short-term, its goal is to invest at seed, angel and later stage follow-on rounds in 30-50 startups over a four-year investment period.

The fund also draws on the finance and skills of both the CEFC and the Australian Renewable Energy Agency (ARENA), the latter of which was, at the time of the fund’s establishment, facing steep budget cuts.

CEFC investment development director, Blair Pritchard said the $26 million of funds raised would be enough to see more dedicated clean energy accelerators popping up around the country….. http://reneweconomy.com.au/clean-energy-seed-fund-raises-26m-vote-confidence-sector-96236/

May 26, 2017 Posted by | AUSTRALIA - NATIONAL, business, energy | Leave a comment

Uluru summit hears calls for a treaty

Video ft. Fred Hooper, Dubbo delegate
“But seven delegates & about a dozen of their supporters from NSW & Vic  derailed the meeting on its second day by staging a walkout and stating ‘we won’t sell out our mob’.

“The dissenters claim their calls for a treaty are being  diminished in favour of constitutional recognition. …
“Dubbo delegate Fred Hooper believes indigenous Australians should follow  their Canadian and New Zealand counterparts in negotiating a treaty for compensation and land reparations. … ”
http://www.skynews.com.au/news/politics/federal/2017/05/25/uluru-summit-hears-calls-for-a-treaty.html

May 26, 2017 Posted by | aboriginal issues, AUSTRALIA - NATIONAL | Leave a comment

New York’s revolutionary moves towards renewable energy grid

How New York Is Building the Renewable Energy Grid of the Future, This is a story of ripping up old incentives that encouraged selling as much electricity as possible, then unleashing the entrepreneurs. BY LESLIE KAUFMAN, INSIDE CLIMATE NEWS MAY 25, 2017 New York State is making a $5 billion bet that by making its power cleaner, it can become a magnet for the clean energy jobs of the future.

Its efforts stand out among the many states racing to integrate more renewables into their power grids—such as Massachusetts, Hawaii and California—not necessarily for the technology but because of what’s happening behind the scenes: New York has launched a Herculean effort to turn around an antiquated system that has deterred innovation for generations by rewarding utilities for selling more electricity.

To get utilities to embrace a changing electricity system, the state is establishing ways for the companies to be reimbursed for some of the savings from energy efficiency programs that are reducing demand for their services. It also is allowing them to reap more return on their investments in equipment needed to bring more renewable energy into the grid. And it is investing in entrepreneurs who are inventing the technology to make it all work.

The state is so gung-ho that its rules require utilities to come up with demonstration projects that test out a new business model, in partnership with at least one private sector company.

The result, say the state’s regulators, is that New York is already attracting hundreds of innovative companies of all stripes. The plum opportunities are not only in installing wind turbines and solar panels, which are generating new employment opportunities across the country, they are also in emerging technologies related to smart grid management and storage. These jobs are largely invisible to the public and, in some cases, didn’t even exist a few years ago……..

Incubating Clean Energy Innovation

Three years ago, New York announced that it would spend $5.3 billion toward meeting its goal of having 50 percent of its electricity come from renewable sources by 2030. (The state only had 24 percent renewable generation in state this year.) Mandates related to these standards have resulted in significant additions of wind and solar to the grid—but that is just the most readily visible part of the changes New York is undergoing.

According to Richard Kauffman, the state’s chairman of energy and finance, it didn’t take long to figure out that “New York cannot cost effectively make this transition just by bolting wind and solar onto the grid of Westinghouse and Tesla,” referring to two of the original creators of the grid, George Westinghouse and Nicola Tesla. Instead, New York wants a new “hybrid grid” that integrates intermittent and distributed resources like wind or solar or microgrids……… https://insideclimatenews.org/news/24052017/new-york-renewable-energy-electrical-grid-solar-wind-energy-coal-natural-gas

May 26, 2017 Posted by | Uncategorized | Leave a comment

Stunning new lows in solar and battery storage costs

New Arizona contract reveals record low price for large scale solar in US, and stunning reduction in cost of battery storage. The new combined solar and storage deal of below 4.5c/kWh cuts previous prices by more than 60% – far cheaper than a peaking gas plant.
http://reneweconomy.com.au/stunning-new-lows-in-solar-and-battery-storage-costs-13929/

May 26, 2017 Posted by | Uncategorized | Leave a comment