Aussie households could soon spot a new charge on their electricity bills should Energy Ministers agree to a proposal for a new capacity payment to power companies, according to a recent report from the Institute for Energy Economics and Financial Analysis (IEEFA) and Green Energy Markets.
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BHP’s oil business and Woodside Petroleum will merge to become Australia’s largest publicly-listed energy company and one of the 10 largest energy companies worldwide.
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Plans for Australia’s largest battery storage project have been revealed by renewable energy developer Syncline. The proposal would see the battery located in Victoria and connected to the state’s main 500kV transmission network.
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Australia is behind other developed countries in renewable energy and emissions, a new report shows. Despite increased uptake in green power and a number of clean energy projects around the country, Aussies are still too slow to embrace new technologies and transition away from fossil fuels.
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Multinational mining, metals and petroleum giant BHP has announced plans to build two solar farms and a battery energy system to power its Nickel West mining operation in Western Australia. The announcement follows a deal inked with electric vehicle and clean energy company Tesla that will see BHP provide Australian nickel to the company.
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OVO Energy has just announced its exciting new OVO Drive offer, which could save Aussie electric vehicle owners as much as $300 per year (or the equivalent of 6,700km of driving distance).
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With Aussies around the country still feeling the effects of the ongoing COVID-19 pandemic, many of us will be spending these cold winter months at least partially working from home. We’ve already discussed here at Mozo how working from home can add more than $500 to your energy bill every six months, and with heating a necessity during the coldest period of the year it’s important to find ways to keep your house warm without breaking the bank.
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In an effort to transform Victorian roads, the Victorian government has announced it will be offering 20,000 subsidies of up to $3,000 for the purchase of new electric vehicles (EVs) under $69,000. The new initiative is a part of the government’s plan to have half of all new cars sold in Victoria emission-free by 2030. The first 4,000 subsidies were made available on 2 May 2021. “When people get an EV (electric vehicle) they are starting to save significant dollars off their bills," climate change minister, Lily D 'Ambrosio told the ABC."It's almost up to $1,600 that is saved off fuel and maintenance costs, each and every year, so we want to make it easier for Victorians.''In addition to the subsidies, the VIC government also plans to spend $19 million on new charging stations and an extra $10 million on government EVs, which it hopes will amount to more than 400 EVs over the next two years."This is very, very ambitious but [a plan] we are absolutely committed to achieving,” said D'Ambrosio.
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Various solar rebates and schemes have helped thousands of Aussie households turn their green energy dreams into reality, and it’s helping boost renewable energy production big time. According to solar energy marketplace bidmysolar, one-fifth of Australia’s clean energy is generated from small-scale solar systems.One scheme that’s increasingly popular amongst Aussie homeowners is the federal government’s Small-scale Renewable Energy Scheme. Under this scheme, small-scale technology certificates (STC) are generated for every kilowatt of panels installed. The number of certificates produced per system depends on its geographical location, installation date and the amount of electricity generated, which can mean a rebate worth thousands of dollars. Regardless of the system’s efficiency, the rebate per panel remains the same, prompting Aussies to purchase less reliable and cheaper systems. As a result, electricity generation and consumption are disrupted. “Quality solar will pay for itself within three to four years and last for 15 to 25 years. Comparably, cheap solar often fails within 12 to 36 months and underperforms by as much as 60% annually,” founder of bidmysolar, Bernie Kelly told Mozo. “Cheap solar is undeniably expensive solar, because not only have you invested in a system that fails but you also continue to have sizable power bills and if you decide to reinvest in a new system, the output of those costs too.” Further research from bidmysolar revealed that one in six solar systems across the country developed a major fault or stopped working altogether, with cheaper models often losing more than 20% of their output capacity within just five years. “The government incentive programme for solar has created an environment for unreliable solar operators to thrive. Cheap, underperforming and failing solar has been dumped into the Australian market,” says Kelly. It’s forecasted that more than 400,000 applications for the STC’s by the Clean Energy Regulator will be made this year. To prevent more solar hiccups for the average household, Kelly shared with Mozo his top three tips for finding a top of the line solar system. “The most important issue for consumers is to never rush in, avoid all the sales hype, and know that prices do not swing wildly from day to day or month to month,” he said. “Avoid wherever possible, finance promising interest-free, no money down. Instead, talk to your bank and use their Green Loan initiatives or a fit for purpose solar loan.“Always stick to the facts, if anybody makes a statement regarding quality and performance, have them explain the position with some science attached. Question everything which is stated verbally and have a salesperson commit to writing what they have said.“Find an independent solar advisor who is not conflicted by sales commissions or benefits, like selling your personal details to multiple solar companies.” Despite its popularity, solar power remains a mystery for many Aussies, so if you’d like to learn more about how solar energy works, have a read of our handy guide.
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With a sudden strict four month lockdown it’s safe to say Victorians haven’t had an easy 2020. But with the Essential Services Commission (ESC) announcing its final energy prices determination for 2021, the new year may already be off to a better start. The ESC has announced that the Victorian Default Offer (VDO) will fall by 10% for residential customers and 14% for small businesses customers. That equates to a bill reduction of $159 per year and $916 a year, respectively.As a quick recap, the VDO, which came into effect 1 July 2019, is a default energy offer available to all customers in Victoria who choose to not engage in the energy market - that is, comparing offers and switching plans. The VDO also replaced standing offers and capped prices, preventing retailers from charging expensive plans to customers on these offers. “The fall in the default offer is being mainly driven by lower wholesale electricity purchase costs, with lower prices likely to assist many Victorian households and small businesses in recovering from the impacts of the coronavirus pandemic,” said Essential Services Commission pricing director, Marcus Crudden.The state’s economic regulator estimates that these price reductions will provide some much needed bill relief to around 125,000 households and 40,000 small businesses.
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