The world is rapidly moving to affordable clean energy, EVs, batteries and electrotech, and well over 50% this is driven by China. Analyst and financier Tim Buckley details the pace of this change with implications for Australia’s own transition, exports and carbon pricing.
0:34 Targeting the clean energy transition – the world is heating due to fossil fuel combustion
1:25 Renewables are outspending fossil fuels 2:1 globally
2:05 For global net zero renewables spend needs to treble (Bloomberg)
2:30 China leads renewables pivot – two thirds last year
4:48 EV transition led by China (about half), which also leads in materials, R&D, domestic deployments
5:23 Batteries are turbocharging solar – China dominates installations, the supply chain and does 80% of global battery recycling.
7:08 China is benefitting from Middle East conflict, with huge rises in electrotech exports including EVs
8:17 Australia, as a key fossil export has a mixed record on the clean energy transition, but is leading in some areas
8:47 Australia led the world on big batteries, first with Hornsdale and now batteries are getting larger, GW scale with longer storage – 2hr to 8hrs
10:39 Home battery scheme – wildly successful with 11.4 GW installed in 11 months, helping to lower electricity prices, even in the middle of a second global conflict centred around fossil fuels, buffered by increasing amounts of clean energy generation and battery storage.
12:32 Australia’s Safeguard Mechanism up for review in 2026 – this is an important opportunity to start to align our energy policies with major trading partners as China expands its price on carbon coverage by 50% next year in response to Europe’s carbon border pricing.
Credit to : Lighter Footprints