Renewables are back — and the battery comes first • earthtrade

Queensland’s renewables sector has regained its footing after a period of policy uncertainty, according to Brisbane-based biodiversity offsets consultancy earthtrade.

The uncertainty began with the change of state government.

Since taking power, the LNP has scrapped Queensland’s legislated renewable and emissions targets, extended the life of coal-fired power stations and backed gas.

The policy has been led by Treasurer and Minister for Energy David Janetzki, with private investment sought for new solar, wind and storage projects.

The Energy Roadmap, released late last year, was described by Mr Janetzki in April as delivering ‘affordable, reliable and sustainable power’.

The roadmap keeps some coal plants running at least until 2046 and lifts the state’s reliance on gas, with batteries and pumped hydro cast as firming technologies.

The new pressure on the industry had proponents delay decisions due to the uncertainty, earthtrade director Thomas Key said.

The emphasis had shifted to include battery storage under the new regime, Mr Key said.

“They’re all gradually coming back on the boat now. They’ve all started doing their projects, which is good to see. There are no projects that don’t have government back in the window, which is interesting.

“Batteries are getting a bit more lively. We have projects coming in batteries. 12, 18 months ago, our battery projects fell off a cliff. Now, I don’t think we have a single (renewables) project without a battery.

“What were big wind and solar projects with a battery element attached. The battery’s now the first element that they look at now instead of the wind and the solar.”

Landholders warned

With renewables projects planned across the state, Mr Key said landholders needed to take care when entering offset arrangements with energy companies.

It was a different game from the renewables rush of more than a decade ago, he said.

“Landowners need to start looking at the actual impacts contractually especially where it includes grazing and agriculture,” he said.

“It’s becoming much, much more sophisticated because this goes beyond just Joe Blog’s exploration company. These wind farming companies are backed by giant multinational funds managers.

“Your new minerals companies are coming out backed by QIC, backed by Traffic Euro, those sorts of companies. They know what they’re doing.”

Landholders weighing an offset arrangement can talk to earthtrade for a commercial assessment before they sign — the terms are getting more complex, and the time to test them is before the ink dries.

Call the earthtrade office on 1300 036 401 with questions.