Latest news with #NationallyDetermined
Sky News AU
2 days ago
- Business
- Sky News AU
Businesses heads warn overly ambitious emission reduction targets could cause economic harm as unions push for re-imposition of carbon tax
Australia's most influential business group have railed against the implementation of a 2035 emission reduction target larger than 65 per cent, stating that the move would impede economic growth and stymie manufacturing. In a letter to the Productivity Commission's five pillars inquiry, which will compile the agenda of the Albanese government's reform roundtable, the Australian Chamber of Commerce and Industry reiterated the 2035 climate targets needed to be grounded in reality. Prime Minister Anthony Albanese is reportedly weighing a 65 – 75 per cent 2035 emission reduction target, in line with Climate Change Authority advice. The government is not expected to announce Australia's 2035 climate target until at least September ahead of the COP 30 conference in Brazil in November. However, chief executive of the Australian Chamber of Commerce and Industry Andrew McKellar said the government should refrain from pursuing a 2035 emission reduction target above 65 per cent, and stated that even the 2030 target of 43 per cent was "increasingly challenging." "We will only support something that's realistic, that's affordable for the Australian economy," Mr McKellar told Sky News on Tuesday. ACCI's submission to the Productivity Commission further outlined that a 2035 federal target over 65 per cent would risk the viability of small businesses and industry". "We have got to be realistic about the contribution that we can make. There's no point driving our economy into the ground," Mr McKellar added. Mr McKellar, who's body represents over 350,000 businesses nationwide, told The Australian anything in the 65 to 75 per cent range would be 'exceedingly challenging for the Australian economy". Despite the ACCI supporting the Albanese government's 43 per cent 2030 climate target, it has consistently pushed for market-oriented solutions and lobbied for the government to create the right environment to bolster private investment. The submission added that 'were the government to set a more ambitious 2035 NDC (Nationally Determined Contribution) ACCI would be greatly concerned about the impact on the productivity, competitiveness and viability of Australian businesses, as well as the cost to the taxpayer'. Meanwhile, the Australian Council of Trade Union used their submission to the Productivity Commission ahead of the economic forum to call on the government to impose a Julia Gillard-style, economy wide carbon tax. The ACTU said a far-reaching carbon tax was one of the best measures the government could take to ensure Australia was meeting its international climate obligations and stated Ms Gillard's carbon pricing mechanism spurred economic growth while limiting emissions. The peak union body also tore into the Albanese government's safeguard mechanism, which sets limits on the emissions of high polluting facilities and said the policy was ineffective and lacked teeth. 'The Productivity Commission's investigation of means to reduce the cost of meeting carbon targets should proceed from these premises, with the goal of internalising the externalities of carbon pollution in line with the principles of carbon pricing,' the ACTU's submission read. The ACTU submission further urged the Productivity Commission to examine whether there were existing federal government fossil fuel subsidies that could be abolished. The Climate Change Authority, chaired by former NSW Liberal MP Matt Kean, has reportedly not finalised its advice to the Albanese government on the 2035 emission reduction target and is still assessing feedback from a range of groups and bodies.
Business Standard
5 days ago
- Business
- Business Standard
India achieves 4000% growth in solar capacity; Calls for self-reliance in energy storage through R&D: Piyush Goyal
Union Minister of Commerce and Industry, Shri Piyush Goyal, while addressing the 11th India Energy Storage Week (IESW) 2025 noted the 4,000% increase in Indias installed solar capacity and stated that the countrys renewable energy capacity now stands at a robust 227 GW. He said India is likely the first G20 nation to have met its Nationally Determined Contributions (NDCs) under the Paris Agreement. Highlighting India's manufacturing progress in the last decade, Goyal said that the countrys solar photovoltaic module capacity has increased nearly 38-fold, while photovoltaic cell capacity has risen 21-fold. Congratulating India Energy Alliance and partners for curating IESW, Goyal appreciated their efforts in bringing together clean energy, storage technologies, green hydrogen, and e-mobility solutions under one platform. He emphasised that India is on a focused path to becoming energy sufficient, with the aim of having renewable energy sources power the countrys growing needs round the clock. The Minister underscored the importance of storage technologieswhether in the form of batteries, pumped storage, hydro storage, or geothermalas essential for meeting Indias future energy demands. He highlighted that the energy sector will be a driving force in India's transition to clean and renewable sources of power, and this vision has already been reflected in the countrys achievements over the last decade. The Minister emphasised that various forms of energy storage, such as pump storage and battery systems, as well as nuclear power, will support the clean energy transition. He also underlined the critical role that stakeholders will play in this mission. Proposing a comprehensive four-pronged approach for advancing Indias energy independence, Union Minister emphasised the need for targeted innovation, infrastructure development, supply chain resilience, and holistic value chain growth. He stated that India must lead in research and development for energy storage by focusing on next-generation battery chemistries, solid-state and hybrid storage technologies, and circular supply chains.
Hans India
5 days ago
- Business
- Hans India
India achieves 4,000% growth in solar capacity
New Delhi: India's installed solar capacity has grown by an unprecedented 4,000% over the past decade, taking the country's total renewable energy capacity to 227 GW. Addressing the 11th India Energy Storage Week (IESW) in the capital on Thursday, Union Commerce and Industry Minister Piyush Goyal said India may well be the first G20 nation to have achieved its Nationally Determined Contributions under the Paris Agreement. Goyal cited Palli village in Jammu and Kashmir, which has become the country's first carbon-neutral panchayat using solar power and energy efficiency measures. The IESW venue, Yashobhoomi, he pointed out, is itself designed as a sustainable complex with rooftop solar panels, wastewater treatment and energy-efficient infrastructure. Outlining the scale of India's clean energy manufacturing push, the minister said the country's solar photovoltaic module capacity has expanded nearly 38-fold in the last decade, while photovoltaic cell capacity has grown 21 times. He highlighted flagship schemes like the PM Surya Ghar Yojana, which aims to install rooftop solar panels in one crore homes, and the PM Kusum Yojana, which supports the use of solar pumps in agriculture. The Production Linked Incentive (PLI) scheme for Advanced Chemistry Cells is also expected to boost domestic manufacturing, he added. Goyal stressed that energy storage will be critical to India's plan to meet its future energy needs through renewable sources. He said technologies such as batteries, pumped storage, hydro storage and even nuclear power would play a role in ensuring round-the-clock clean energy. Calling for a four-pronged strategy to advance India's clean energy ambitions, Goyal listed innovation, infrastructure development, supply chain resilience and an integrated value chain as key priorities. He said India must lead in research and development for next-generation battery technologies, including solid-state and hybrid storage, while also developing circular supply chains. He referred to the recent Cabinet approval of a ₹1 lakh crore Research, Development and Innovation Fund, which he said would help India match the scale of R&D spending in advanced economies due to its cost advantages. Goyal urged industry players to ramp up efforts to build charging and battery-swapping infrastructure to accelerate adoption of electric vehicles. He also stressed the need to cut dependence on limited geographies for raw materials and components by investing in resilient supply chains and new technologies.
Business Standard
6 days ago
- Business
- Business Standard
India's renewable energy capacity stands at 227 GW
Union Minister of Commerce and Industry, Piyush Goyal, while addressing the 11th India Energy Storage Week (IESW) 2025 today in New Delhi, noted the 4,000% increase in Indias installed solar capacity and stated that the countrys renewable energy capacity now stands at a robust 227 Giga Watt (GW). He said India is likely the first G20 nation to have met its Nationally Determined Contributions (NDCs) under the Paris Agreement. Goyal noted that the countrys solar photovoltaic module capacity has increased nearly 38-fold, while photovoltaic cell capacity has risen 21-fold.
Time of India
6 days ago
- Business
- Time of India
Delhi civic body likely to install rooftop solar panels on 989 buildings to cut power costs
NEW DELHI: The Municipal Corporation of Delhi (MCD) is likely to install rooftop solar power plants on 989 municipal buildings in a bid to reduce dependency on conventional power sources and lower electricity costs, officials said on Wednesday. The project will be executed in collaboration with NTPC Vidyut Vyapar Nigam Limited (NVVN), a wholly-owned subsidiary of NTPC. Under the RESCO model, the executing agency bears the cost of installation, operation, and maintenance and is reimbursed over time through a fixed tariff per unit of solar energy generated, as agreed upon in a Power Purchase Agreement (PPA). In a push towards renewable energy adoption and reducing dependency on conventional power sources, the civic body has estimated a potential of 10 to 15 megawatt (MW) solar capacity across the proposed buildings. However, this is subject to the outcome of a detailed investment-grade energy audit. At present, the MCD has installed a total of 574 solar photovoltaic (PV) plants on its buildings, with a cumulative capacity of 13.25 MWp. These include installations carried out under various models across the erstwhile South, North, and East Delhi municipal corporations. Notably, under an agreement signed between 2022 and 2024 with NVVN, 26 rooftop plants with a combined capacity of 1.08 MWp were commissioned at a levelised tariff of Rs 4.72 per kWh. With NVVN currently having around 10-15 MW of spare capacity available from its ongoing rooftop solar projects on Delhi Police buildings under the Ministry of Home Affairs, the MCD plans to utilise this surplus to fast-track solar deployment on its properties. According to officials, the indicative tariff proposed for these new installations ranges from Rs 4.25 to Rs 4.92 per unit, depending on rooftop capacity. This is considered financially more viable than the rates quoted by the Delhi government-owned IPGCL, whose proposal has now been set aside. The proposal has been listed in the agenda for the upcoming MCD House meeting scheduled for Thursday. Officials asserted the MCD's proposed solar expansion will not only help reduce electricity costs but also support the country's broader clean energy goals. Once implemented, the project will cover nearly a thousand buildings, including schools, offices, and community facilities under the civic body's jurisdiction. The Ministry of New and Renewable Energy (MNRE), in a directive issued in January 2024, designated NTPC as the Renewable Energy Implementing Agency (REIA) for Delhi to fast-track rooftop solar implementation across government buildings. As part of India's Nationally Determined Contributions (NDCs) under the UN Framework Convention on Climate Change (UNFCCC), the country aims to achieve 50 per cent of its installed electricity capacity from non-fossil fuel sources by 2030 and reduce emissions intensity by 45 per cent, according to the documents.
