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Category: Technology

Carnegie Wave secures $21m loan from CBA

Carnegie Wave Energy has secured a $21 million loan facility with Commonwealth Bank of Australia, providing funds for final commercialisation of zero emission wave electricity.

The first wave energy financing deal in Australia, it will finance the next stage of CETO technology development and commercialisation, as well as provide part of the financing for the Garden Island microgrid project.

The Garden Island project will incorporate the CETO 6 project currently underway with the existing operating desalination plant along with a new additional solar photovoltaic farm, energy storage and a sophisticated control system.

The deal will replace the existing $20 million loan facility with the Australian Government Clean Energy Finance Corporation.


The energy holy grail is within our reach

Of the many challenges facing modern economies in the long aftermath of the global financial crisis, one of the more daunting is that of delivering sustained economic growth within increasingly binding carbon constraints. Decoupling economic growth from carbon emissions is the ‘holy grail’ that citizens increasingly demand, and which political leaders around the world are actively pursuing.

Few economies are as potentially well-positioned as Australia to deliver this elusive nexus. Through a combination of good management and good luck, we came through the financial crisis better than almost any other developed economy.

While economic growth has slowed, political instability has increased. And although the appetite for and capacity to implement economic reforms appears to have diminished, we have a firm foundation for delivering a strong economic future for Australia.

Achieving sustained growth in a carbon-constrained world will require us to sever the link between economic growth and carbon emissions, which has been an almost immutable feature of our economic development. Like most industrialised economies, Australia’s carbon emissions have been dominated by the electricity sector, which has traditionally been reliant on our vast coal (and more recently gas) reserves.

The energy sector continues to operate in an environment of great uncertainty and change. Both climate and energy policy have been riddled with holes after being caught in the political crossfire. There has been a major disconnect between the two.

Carbon pricing schemes are favoured by most economists as the most efficient way of reducing carbon pollution. The Rudd and Gillard governments championed both emissions trading and a carbon tax as climate policy solutions, but complexity turned out to be the Achilles heel of both. Neither of those governments, nor the supporters of those policies, were able to ‘sell’ them to the public.

Instead it was Tony Abbott’s simple pitch of a ‘great big new tax’ which cut through, ultimately damning the Gillard Government’s signature climate reform to the dustbin of history.

The carbon price is survived by an effective yet bruised package of policies including the Renewable Energy Target, the Australian Renewable Energy Agency and the Clean Energy Finance Corporation. With five prime ministers in five years, Australia’s climate and energy policies are in need of some major TLC. And the early signs are positive, with a new Prime Minister and Energy Minister, as well as a reinvigorated Environment Minister, who all see the merits and opportunity in this decoupling process.

The UN climate negotiations in Paris at the end of the year are approaching quickly, and the Australian Government recently set a new target of cutting our emissions by 26-28 per cent by 2030. About a third of our emissions are produced by the electricity sector alone, but how the energy sector will help to meet our emissions reduction goals is still hazy. Certainly, retiring more of our oldest and dirtiest coal-fired power stations would be a good start.

With massive breakthroughs in the cost and performance of clean energy, most parts of the energy industry now accept that we are moving towards cleaner ways of generating and using electricity and, simultaneously, to a world in which consumers have more power than ever before. Two of our largest energy companies, AGL and Origin Energy, have committed to retiring their coal-fired power plants over the long term.

All credible projections point to an ongoing decline in the cost of renewable energy such as wind and solar power, as it delivers over $40 billion worth of investment and another 15,000 jobs by 2020, and much more beyond that. Our economic growth can continue to be underpinned by low-cost energy as it has in the past: it’s just that an increasing proportion of that energy will be from renewable energy and energy efficiency.

If we get this right, there is a massive economic opportunity for Australia, given our competitive advantage in renewable energy. Our economic growth and our emissions will continue to decouple: we can grow our economy while reducing our emissions. It’s the holy grail that is entirely within Australia’s reach.

Saul Eslake is an economist and Kane Thornton is the chief executive of the Clean Energy Council.


V-Guard Stabilizer: Relay type

V-Guard Stabilizer is a relay type voltage stabilizer. This is mostly used for the protection of Air Conditioners, Refrigerators, and similar not-so-precise electrical equipments. However, this type of stabilizer is not really a good choice if you are expecting a constant output voltage.

There are two major types of voltage stabilizers widely used across the world. The simplest one is known as static stabilizer, which consists of transformer and electromagnetic relay. The input supply is given to primary winding of transformer and output is obtained from secondary windings. The output voltage is adjusted by adding or subtracting windings of the transformer coil, through switches (or relays). However, output is not accurate in this type. V Guard stabilizer is of this type.

The second type is Servo Stabilizer, which gives precise output. It works on the same principle of transformer. Servo voltage stabilzer boosts the voltage and provides proper output whether the input supply is low or high or even if the input AC voltage fluctuates. The number of windings are added or subtracted through a moving contact on the coil, which is adjusted by a motor.

To prevent failure of air-conditioners, computers, and such electrical gadgets, and to protect it from fluctuating voltage, you must connect them through servo type voltage stabilizers, and not v-guard stabilizer. In case you need help on this topic, you may subscribe at Excell Voltage Stabilizer.