• In the FY 21/22, the Federal Government handed out $11.6 billion in subsidies to the fossil fuel industry
  • The Climate Council has found five ‘better’ ways the government could be spending the money
  • These include things like funding another 15 Kidston Pumped Hydro Projects or 72,500 EV charging stations

Emission Control is Stockhead’s fortnightly take on all the big news surrounding developments in renewable energy.


Ahead of the 2022 Federal Budget, the Climate Council has released a paper calculating what it says are five better bets the Australian Government could be investing in, rather than subsidising the fossil fuel industry.

In the 21/22 financial year, the Australian Federal Government handed out $11.6 billion in subsidies to the fossil fuel industry but for the same amount of money, the Climate Council has found the money could be spent on better nation building, clean energy solutions.

For example, for $11.6 billion the Australian Government could install 1.5 million rooftop solar systems for low-income families to help alleviate cost of living pressures – assuming each system costs around $7,500.

In fact, the Climate Council says 1.5 million solar PV systems could cover all public housing homes in Australia more than three times over.

Or, for $11.6 billion, Australia could fund another 15 Kidston Pumped Hydro Projects, which cost $777 million – providing 22 gigawatt hours of reliable energy, the equivalent of powering the entirety of South Australia for eight hours, every day.

Another better bet, the council says,  is using the money to fund around 15,500 electric buses, which would replace all the diesel buses in Sydney (currently 8,000), Melbourne (4,000) and Brisbane (1,200) – or fund a whopping 72,500 public electric vehicle charging stations for Australians.

Currently, Australia has only 1,653 charging sites in comparison to Norway’s 17,000 – supporting 48,000 vehicles.

According to the Climate Council, that is one charger for every 50km.

Australia would need just over 17,500 to cover its roughly 877,000km of roads every 50km but with 72,500 chargers, that would mean one charger for every 12km of road in the country.


Ideas that ease cost of living and propel us towards zero emissions

Nicki Hutley, leading economist at the Climate Council, says it is utterly absurd the Australian government wastes $22,000 every single minute in subsidies for the fossil fuel industry – which is posting record profits at the same time as many Australian families are struggling to make ends meet.

“The Albanese Government has said it’s serious about easing cost of living pressures for Australians in its upcoming ‘bread and butter’ budget… well, here’s a very good place for them to start,” she explains.

“Imagine if we could install solar panels on every public housing building in the country, or if we could electrify three major Australian cities’ entire bus fleets.

“This really brings home the sheer scale that the polluting fossil fuel industry is getting in tax breaks and benefits. It’s crazy.

“There are any number of positive initiatives the Federal Government could invest taxpayers’ money in that don’t worsen climate change.

“We have a few ideas and guess what – they are all designed to ease the cost of living and propel us towards zero emissions.

“These are, by far, a better bet.”


Here’s how ASX renewable energy stocks are tracking:

AST AusNet Services Ltd 0 -100% -100% -100% $9,919,608,019
AVL Aust Vanadium Ltd 0.039 5% -9% 77% $155,154,470
BSX Blackstone Ltd 0.18 3% -8% -60% $85,180,541
DEL Delorean Corporation 0.066 -6% -31% -66% $14,237,580
ECT Env Clean Tech Ltd. 0.0185 9% -3% 54% $31,750,656
FMG Fortescue Metals Grp 17.6 5% 7% 24% $54,189,782,557
PV1 Provaris Energy Ltd 0.054 -7% -25% -33% $29,607,145
GNX Genex Power Ltd 0.215 -4% -4% -2% $297,813,085
HXG Hexagon Energy 0.017 6% 6% -78% $8,719,570
HZR Hazer Group Limited 0.57 -3% -16% -40% $97,152,934
IFT Infratil Limited 7.55 -3% -13% -6% $5,475,066,531
IRD Iron Road Ltd 0.16 3% 14% -9% $127,977,809
LIO Lion Energy Limited 0.034 13% -13% -15% $14,487,748
MEZ Meridian Energy 4.26 0% -7% -10% $5,383,682,433
MPR Mpower Group Limited 0.022 0% 0% -68% $6,461,472
NEW NEW Energy Solar 0.965 1% 4% 25% $309,367,406
PGY Pilot Energy Ltd 0.018 3% 6% -66% $11,005,881
PH2 Pure Hydrogen Corp 0.275 10% -10% 28% $95,291,065
PRL Province Resources 0.085 5% -11% -41% $100,426,917
PRM Prominence Energy 0.002 0% 0% -86% $4,849,218
QEM QEM Limited 0.225 0% -6% 50% $28,146,055
RFX Redflow Limited 0.037 -8% -16% -39% $65,964,461
SKI Spark Infrastructure 0 -100% -100% -100% $5,036,718,784
VUL Vulcan Energy 7.62 4% -4% -30% $1,092,214,994
CXL Calix Limited 6.04 3% -5% 26% $976,129,232
KPO Kalina Power Limited 0.018 -10% -10% -42% $27,273,524
RNE Renu Energy Ltd 0.038 -10% -19% -19% $13,853,508
NRZ Neurizer Ltd 0.12 -8% -14% 4% $126,235,941
LIT Lithium Australia 0.057 4% -11% -48% $69,519,663
TNG TNG Limited 0.08 -2% -30% -2% $111,073,458
SRJ SRJ Technologies 0.43 0% 0% 25% $34,125,795
NMT Neometals Ltd 1.11 -3% -20% 41% $613,104,624
MR1 Montem Resources 0.04 0% 0% -11% $12,620,500
FGR First Graphene Ltd 0.11 0% -12% -39% $63,361,476
EGR Ecograf Limited 0.34 3% -23% -47% $153,113,376
EDE Eden Inv Ltd 0.006 -33% -25% -71% $16,267,368
CWY Cleanaway Waste Ltd 2.82 5% -1% 4% $6,271,594,957
CPV Clearvue Technologie 0.205 -9% -15% -32% $43,468,271
CNQ Clean Teq Water 0.52 6% -11% -15% $23,226,410
M8S M8 Sustainable 0.007 17% 0% -72% $2,936,360
EOL Energy One Limited 4.8 -1% -11% -16% $140,477,914
LNR Lanthanein Resources 0.043 10% -26% 153% $41,401,500
FHE Frontier Energy Ltd 0.38 6% -3% 192% $87,165,409
LPE Locality Planning 0.059 5% 4% -67% $10,364,455
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Who’s got news out?

Bellevue Gold (ASX:BGL)

BGL is testing the market for an ESG friendly gold product, with its Leinster gold mine of the same name expected to be one of the lowest carbon emitters of any when it enters production in the second half of 2023.

While the biggest sources of gold demand are jewellery and investment, the latter of which tends to drive price, it is a major component in electronics like laptops and mobile phones where equipment producers are growing more concerned about the sustainability of their supply chains.

Bellevue signed an Early Works Agreement with Energy Developments, a Tier-1 provider of sustainable distributed energy, for an off-grid hybrid power station to be built at its Bellevue Gold Project in Western Australia.

The station would run the mine at an average penetration of 80% renewables, with the gas turbines to have ‘engines off’ capabilities, meaning the operation could run at times at 100% renewables.

And while green premiums do not yet exist, CEO Darren Stralow Stralow believes BGL can help create that market.

In an interview with Stockhead’s Josh Chiat, he says the company is trying to be a market leader in terms of challenging the rest of the industry to come forward and present something different about their products.

“It’s all well and good to have the product just go into a bucket and be sold the same as everybody else.

“When you have an opportunity to have a differentiated product that actually does have some social benefits attached to it, it’s a really good test case to see whether the world values green traits as a value add.”


Fortescue Metals Group (ASX:FMG) 

FMG’s Fortescue Future Industries has entered a global strategic collaboration with energy infrastructure developer Tree Energy Solutions (TES) which aims to accelerate the development of a world leading green hydrogen and green energy import facility in Germany.

The investment of €130 million (US$127 million) will be funded by FFI’s un-utilised capital commitment and provides FFI with a pathway for access to critical infrastructure to execute its strategy.

TES is developing a portfolio of terminals globally that will enable transportation of green energy.

The first phase of this partnership is to jointly develop and invest in the supply of 300,000t of green hydrogen with final locations being currently agreed, and a financial investment decision targeted in 2023.

The first delivery of green hydrogen into TES’ terminal in Wilhelmshaven, Germany is anticipated to take place in 2026 and initial collaboration projects will be focused on Australia, Europe, the Middle East and Africa.