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The Advertiser
a day ago
- Business
- The Advertiser
Why wind and solar remain the cheapest energy options
Electricity generated by solar and on-shore wind projects remains the cheapest option for Australia, while small nuclear reactors are the most expensive, the latest report from the CSIRO and energy market regulator has found. The GenCost 2024-25 report, produced at CSIRO's Newcastle Energy Centre, argues that Australia's electricity network relies on a mix of technologies, because no single option can deliver all the capabilities required for a reliable, secure and flexible supply. It also found that rising construction costs and supply chain constraints for some technologies remain a challenge. CSIRO's chief energy economist and GenCost lead author Paul Graham said fewer submissions were received during this year's consultation process than previously, which reflected a broader range of perspectives. "Most input we received focused on technologies already in development or under construction, such as pumped hydro, wind, solar photovoltaics, gas, solar thermal and electrolysers," he said. "Following consultation, cost projections for most technologies have been revised upwards, despite continued declines in solar PV and battery costs. Key drivers of these changes include: Overall, the report found renewables (wind and solar) backed by storage and transmission remained the lowest-cost new-build electricity generation technologies. However, it found that offshore wind remains a higher cost option to on-shore wind, even though transmission costs tended to be lower. "Offshore wind can be built much nearer to Australia's major cities, which means they can avoid the higher transmission costs faced by onshore projects," Mr Graham said. "However, overall, offshore wind generation is generally higher cost than onshore wind. Offshore wind runs the risk of a first-of-a-kind premium, given Australia's workforce does not have any experience building this type of project." After renewables, gas with carbon capture and storage (CCS) and large-scale nuclear were the next lowest cost options. As neither is currently deployed for electricity generation in Australia, they could be subject to longer lead times and first-of-a-kind premiums. Small modular nuclear reactors (SMRs) remain the highest cost option, even with new data from Canada's Darlington project. This represented the first commercial-scale benchmark from a western country and fell within the range previously projected by GenCost. Climate Change and Energy Chris Bowen said the GenCost report supported the government's net-zero policy. "Australia has the best wind and sun to power our future and we're harnessing it to secure the better, fairer energy system our nation deserves," he said. "The latest GenCost confirms what our energy experts have been saying for a long time: the most affordable path to deliver reliable energy in future is with new renewable generation and storage, firmed by gas and pumped hydro. This year's report calculated the potential cost advantages of nuclear technology's longer operational life for the first time. "Our finding is that there are no unique cost advantages arising from nuclear technology's long operational life. Similar cost savings are achievable from shorter lived technologies, even accounting for the fact that shorter lived technologies need to be built twice to achieve the same operational life,' the report said. The CSIRO's director of energy, Dr Dietmar Tourbier, said GenCost is Australia's most comprehensive source of electricity generation cost projections, supporting evidence-based decisions across the sector. "We refresh forecasts annually using the best available data at the time to ensure GenCost reflects current market conditions and remains a trusted benchmark," he said. "By drawing on expert input from across the electricity sector, GenCost reinforces CSIRO's role as a neutral source of scientific insight to help guide Australia's energy transition." Electricity generated by solar and on-shore wind projects remains the cheapest option for Australia, while small nuclear reactors are the most expensive, the latest report from the CSIRO and energy market regulator has found. The GenCost 2024-25 report, produced at CSIRO's Newcastle Energy Centre, argues that Australia's electricity network relies on a mix of technologies, because no single option can deliver all the capabilities required for a reliable, secure and flexible supply. It also found that rising construction costs and supply chain constraints for some technologies remain a challenge. CSIRO's chief energy economist and GenCost lead author Paul Graham said fewer submissions were received during this year's consultation process than previously, which reflected a broader range of perspectives. "Most input we received focused on technologies already in development or under construction, such as pumped hydro, wind, solar photovoltaics, gas, solar thermal and electrolysers," he said. "Following consultation, cost projections for most technologies have been revised upwards, despite continued declines in solar PV and battery costs. Key drivers of these changes include: Overall, the report found renewables (wind and solar) backed by storage and transmission remained the lowest-cost new-build electricity generation technologies. However, it found that offshore wind remains a higher cost option to on-shore wind, even though transmission costs tended to be lower. "Offshore wind can be built much nearer to Australia's major cities, which means they can avoid the higher transmission costs faced by onshore projects," Mr Graham said. "However, overall, offshore wind generation is generally higher cost than onshore wind. Offshore wind runs the risk of a first-of-a-kind premium, given Australia's workforce does not have any experience building this type of project." After renewables, gas with carbon capture and storage (CCS) and large-scale nuclear were the next lowest cost options. As neither is currently deployed for electricity generation in Australia, they could be subject to longer lead times and first-of-a-kind premiums. Small modular nuclear reactors (SMRs) remain the highest cost option, even with new data from Canada's Darlington project. This represented the first commercial-scale benchmark from a western country and fell within the range previously projected by GenCost. Climate Change and Energy Chris Bowen said the GenCost report supported the government's net-zero policy. "Australia has the best wind and sun to power our future and we're harnessing it to secure the better, fairer energy system our nation deserves," he said. "The latest GenCost confirms what our energy experts have been saying for a long time: the most affordable path to deliver reliable energy in future is with new renewable generation and storage, firmed by gas and pumped hydro. This year's report calculated the potential cost advantages of nuclear technology's longer operational life for the first time. "Our finding is that there are no unique cost advantages arising from nuclear technology's long operational life. Similar cost savings are achievable from shorter lived technologies, even accounting for the fact that shorter lived technologies need to be built twice to achieve the same operational life,' the report said. The CSIRO's director of energy, Dr Dietmar Tourbier, said GenCost is Australia's most comprehensive source of electricity generation cost projections, supporting evidence-based decisions across the sector. "We refresh forecasts annually using the best available data at the time to ensure GenCost reflects current market conditions and remains a trusted benchmark," he said. "By drawing on expert input from across the electricity sector, GenCost reinforces CSIRO's role as a neutral source of scientific insight to help guide Australia's energy transition." Electricity generated by solar and on-shore wind projects remains the cheapest option for Australia, while small nuclear reactors are the most expensive, the latest report from the CSIRO and energy market regulator has found. The GenCost 2024-25 report, produced at CSIRO's Newcastle Energy Centre, argues that Australia's electricity network relies on a mix of technologies, because no single option can deliver all the capabilities required for a reliable, secure and flexible supply. It also found that rising construction costs and supply chain constraints for some technologies remain a challenge. CSIRO's chief energy economist and GenCost lead author Paul Graham said fewer submissions were received during this year's consultation process than previously, which reflected a broader range of perspectives. "Most input we received focused on technologies already in development or under construction, such as pumped hydro, wind, solar photovoltaics, gas, solar thermal and electrolysers," he said. "Following consultation, cost projections for most technologies have been revised upwards, despite continued declines in solar PV and battery costs. Key drivers of these changes include: Overall, the report found renewables (wind and solar) backed by storage and transmission remained the lowest-cost new-build electricity generation technologies. However, it found that offshore wind remains a higher cost option to on-shore wind, even though transmission costs tended to be lower. "Offshore wind can be built much nearer to Australia's major cities, which means they can avoid the higher transmission costs faced by onshore projects," Mr Graham said. "However, overall, offshore wind generation is generally higher cost than onshore wind. Offshore wind runs the risk of a first-of-a-kind premium, given Australia's workforce does not have any experience building this type of project." After renewables, gas with carbon capture and storage (CCS) and large-scale nuclear were the next lowest cost options. As neither is currently deployed for electricity generation in Australia, they could be subject to longer lead times and first-of-a-kind premiums. Small modular nuclear reactors (SMRs) remain the highest cost option, even with new data from Canada's Darlington project. This represented the first commercial-scale benchmark from a western country and fell within the range previously projected by GenCost. Climate Change and Energy Chris Bowen said the GenCost report supported the government's net-zero policy. "Australia has the best wind and sun to power our future and we're harnessing it to secure the better, fairer energy system our nation deserves," he said. "The latest GenCost confirms what our energy experts have been saying for a long time: the most affordable path to deliver reliable energy in future is with new renewable generation and storage, firmed by gas and pumped hydro. This year's report calculated the potential cost advantages of nuclear technology's longer operational life for the first time. "Our finding is that there are no unique cost advantages arising from nuclear technology's long operational life. Similar cost savings are achievable from shorter lived technologies, even accounting for the fact that shorter lived technologies need to be built twice to achieve the same operational life,' the report said. The CSIRO's director of energy, Dr Dietmar Tourbier, said GenCost is Australia's most comprehensive source of electricity generation cost projections, supporting evidence-based decisions across the sector. "We refresh forecasts annually using the best available data at the time to ensure GenCost reflects current market conditions and remains a trusted benchmark," he said. "By drawing on expert input from across the electricity sector, GenCost reinforces CSIRO's role as a neutral source of scientific insight to help guide Australia's energy transition." Electricity generated by solar and on-shore wind projects remains the cheapest option for Australia, while small nuclear reactors are the most expensive, the latest report from the CSIRO and energy market regulator has found. The GenCost 2024-25 report, produced at CSIRO's Newcastle Energy Centre, argues that Australia's electricity network relies on a mix of technologies, because no single option can deliver all the capabilities required for a reliable, secure and flexible supply. It also found that rising construction costs and supply chain constraints for some technologies remain a challenge. CSIRO's chief energy economist and GenCost lead author Paul Graham said fewer submissions were received during this year's consultation process than previously, which reflected a broader range of perspectives. "Most input we received focused on technologies already in development or under construction, such as pumped hydro, wind, solar photovoltaics, gas, solar thermal and electrolysers," he said. "Following consultation, cost projections for most technologies have been revised upwards, despite continued declines in solar PV and battery costs. Key drivers of these changes include: Overall, the report found renewables (wind and solar) backed by storage and transmission remained the lowest-cost new-build electricity generation technologies. However, it found that offshore wind remains a higher cost option to on-shore wind, even though transmission costs tended to be lower. "Offshore wind can be built much nearer to Australia's major cities, which means they can avoid the higher transmission costs faced by onshore projects," Mr Graham said. "However, overall, offshore wind generation is generally higher cost than onshore wind. Offshore wind runs the risk of a first-of-a-kind premium, given Australia's workforce does not have any experience building this type of project." After renewables, gas with carbon capture and storage (CCS) and large-scale nuclear were the next lowest cost options. As neither is currently deployed for electricity generation in Australia, they could be subject to longer lead times and first-of-a-kind premiums. Small modular nuclear reactors (SMRs) remain the highest cost option, even with new data from Canada's Darlington project. This represented the first commercial-scale benchmark from a western country and fell within the range previously projected by GenCost. Climate Change and Energy Chris Bowen said the GenCost report supported the government's net-zero policy. "Australia has the best wind and sun to power our future and we're harnessing it to secure the better, fairer energy system our nation deserves," he said. "The latest GenCost confirms what our energy experts have been saying for a long time: the most affordable path to deliver reliable energy in future is with new renewable generation and storage, firmed by gas and pumped hydro. This year's report calculated the potential cost advantages of nuclear technology's longer operational life for the first time. "Our finding is that there are no unique cost advantages arising from nuclear technology's long operational life. Similar cost savings are achievable from shorter lived technologies, even accounting for the fact that shorter lived technologies need to be built twice to achieve the same operational life,' the report said. The CSIRO's director of energy, Dr Dietmar Tourbier, said GenCost is Australia's most comprehensive source of electricity generation cost projections, supporting evidence-based decisions across the sector. "We refresh forecasts annually using the best available data at the time to ensure GenCost reflects current market conditions and remains a trusted benchmark," he said. "By drawing on expert input from across the electricity sector, GenCost reinforces CSIRO's role as a neutral source of scientific insight to help guide Australia's energy transition."
The Verge
a day ago
- Science
- The Verge
The US could soon get a new private uranium enrichment facility.
Posted Jul 28, 2025 at 2:58 PM UTC Follow topics and authors from this story to see more like this in your personalized homepage feed and to receive email updates. Justine Calma Posts from this author will be added to your daily email digest and your homepage feed. See All by Justine Calma Posts from this topic will be added to your daily email digest and your homepage feed. See All AI Posts from this topic will be added to your daily email digest and your homepage feed. See All Climate Posts from this topic will be added to your daily email digest and your homepage feed. See All Energy Posts from this topic will be added to your daily email digest and your homepage feed. See All Environment Posts from this topic will be added to your daily email digest and your homepage feed. See All Science
The Citizen
2 days ago
- Politics
- The Citizen
African Media unite to tackle climate disinformation
On July 24, at the Goethe Institut in Parkwood, leading African media voices, international experts, and advocates gathered to confront a critical and often overlooked threat… Climate disinformation. The event: Fighting Climate Disinformation: Information Integrity for Climate Change and the Role of African Media, was hosted by Media Monitoring Africa (MMA), in partnership with the South African National Editors' Forum (SANEF), the Forum on Information and Democracy (FID), the International Press Institute (IPI), and BrandSA. It highlighted how, as the impacts of climate change intensify, the spread of falsehoods and misleading narratives is undermining public understanding, delaying the urgent action needed to protect vulnerable communities. Also read: Parktown North comedian Costa Carastavrakis brings new show to Melrose Arch Speakers warned that Africa, already affected by climate change, cannot afford to lose the truth battle. AI and disinformation campaigns have created an information crisis that risks policy, public trust, and resilience. There's an urgent call for African journalists to challenge false narratives and explore the 'why' behind stories, especially regarding corporate greenwashing and manipulation. The dialogue highlighted the importance of youth empowerment through media literacy, noting that young people with critical thinking skills are less susceptible to misinformation. Many, however, struggle to evaluate climate information, leading to emotional reactions and disconnection. The discussion stressed the need for integrating climate education and digital literacy in schools, while encouraging civil society and businesses to fund community workshops that promote informed engagement. Also read: The G20 audiovisual advert highlights solidarity, equality, and sustainability The event highlighted the G20's growing recognition of information integrity as crucial to climate justice, with Brazil spearheading initiatives in this area. Panellists emphasised that social media platforms must take greater responsibility in combating harmful content, calling for increased support for journalists facing harassment when investigating environmental issues. They concluded that truthful storytelling is essential for achieving climate justice, as the media's role extends beyond informing, to inspiring action, with each accurate report contributing to the protection of the planet and public trust. Follow us on our Whatsapp channel, Facebook, X, Instagram and TikTok for the latest updates and inspiration!
Business Wire
2 days ago
- Business
- Business Wire
GTJAI Achieved 'Carbon Neutrality' at Operational Level for the Third Consecutive Year
HONG KONG--(BUSINESS WIRE)-- Guotai Junan International Holdings Limited ('GTJAI' or the 'Company', stock code: a company of Guotai Haitong Group, is pleased to announce that while actively saving energy and reducing emissions, it has successfully offset its Scope 1 and Scope 2 carbon emissions totaling 609.29 tons of carbon dioxide equivalent for the year 2024 by subscribing to the carbon credits issued under the international Verified Carbon Standard (VCS). This marks the third consecutive year that GTJAI has achieved 'carbon neutrality' at the operational level, demonstrating the Company's leading practice and commitment to green operation. The carbon credits come from 'Guoluo Grassland Sustainable Management Project' located in Guoluo Tibetan Autonomous Prefecture, Qinghai Province, China. It is dedicated to the restoration of degraded grassland ecosystems, based on the holistic nature of the ecosystems, in line with the concept of ecological civilization construction, and to effectively respond to the challenges of climate change. The project is also the first grassland carbon project in China receiving both VCS certification and the Climate, Community and Biodiversity Standards (CCB) - CCB-Biodiversity Gold Level certification. In recent years, GTJAI has been continuously reducing its operational carbon footprint through systematic energy saving and emission reduction initiatives, which is the core support for the achievement of 'carbon neutrality', including vigorously implementing energy-saving renovation of office space, deepening digitalization and paperless transformation, and implementing stringent waste management (100% safe recycling of hazardous waste by 2024). Solid internal emission reduction efforts, combined with carbon offsetting through high-quality carbon credits, enabled the Company to achieve 'carbon neutrality' at the operational level. Adhering to the core philosophy of 'finance for the country, finance for the people, finance for the good', GTJAI has always placed sustainable development at the core of its corporate strategy. The Company is committed to supporting the real economy through financial services while facilitating the green transformation of its corporate clients. In 2024, the Company successfully completed 90 sustainable finance projects covering green bonds, sustainable bonds and green sector IPOs with a total issuance volume of HK$179.8 billion, significantly broadening the financing pipeline for the green industry. Meanwhile, the private equity sector is actively engaged in the sustainability sector, with more than half of its investments focusing on ESG-related industries. Looking ahead, GTJAI will deepen the level of ESG governance, fully integrate ESG factors into its operations and management processes, further leverage its professional strengths and enhance the level of green financial services capabilities. Through innovative products and services, GTJAI will proactively contribute to the realization of the country's 'dual carbon' goal and promote the high-quality development of the economy and society. About GTJAI Guotai Junan International ('GTJAI', Stock Code: a company of Guotai Haitong Group, is the market leader and first mover for internationalization of Chinese Securities Company as well as the first Chinese securities broker listed on the Main Board of The Hong Kong Stock Exchange through initial public offering. Based in Hong Kong with subsidiaries in Singapore, Vietnam and Macau, GTJAI's business covers major markets around the world, offering high-quality and diversified comprehensive financial services for clients' overseas asset allocation. Core business includes brokerage, corporate finance, asset management, loans and financing, financial products, which cover three dimensions including individual finance (wealth management), institutional finance (institutional investor services and corporate finance) and investment management. GTJAI has been assigned 'Baa2' and 'BBB+' long term issuer rating from Moody and Standard & Poor respectively, as well as an MSCI ESG 'A' rating, Wind ESG 'A' rating and SynTao Green Finance 'A' rating in ESG. Additionally, its S&P Global ESG score leads 84% of its global peers. The controlling shareholder, Guotai Haitong Securities (Stock Code: is the comprehensive financial provider with a long-term, sustainable and overall leading position in the China's capital markets. For more information about GTJAI, please visit
The Verge
4 days ago
- Science
- The Verge
Google's investing in a CO2 battery.
Posted Jul 25, 2025 at 2:43 PM UTC Follow topics and authors from this story to see more like this in your personalized homepage feed and to receive email updates. Justine Calma Posts from this author will be added to your daily email digest and your homepage feed. See All by Justine Calma Posts from this topic will be added to your daily email digest and your homepage feed. See All Climate Posts from this topic will be added to your daily email digest and your homepage feed. See All Energy Posts from this topic will be added to your daily email digest and your homepage feed. See All Environment Posts from this topic will be added to your daily email digest and your homepage feed. See All Google Posts from this topic will be added to your daily email digest and your homepage feed. See All News Posts from this topic will be added to your daily email digest and your homepage feed. See All Science Posts from this topic will be added to your daily email digest and your homepage feed. See All Tech
