Tesla founder and CEO Elon Musk has long predicted the imminent end of the fossil fuel era. But it took a couple of tweets between him and another billionaire, Australia’s Mike Cannon-Brookes, on Friday to highlight just how close this is.

The Australian domestic gas industry is facing a crisis point, with a shortage of supply projected for two years time, and battery storage and renewable energy ready to provide a cheaper alternative.

If you ever wondered why the sudden and renewed enthusiasm for an emissions intensity scheme from the fossil fuel lobby and their supporters, wonder no more. It will likely save coal and gas generators $30 billion over competing scenarios. But it won’t deliver any savings for consumers.

Several GCL companies are forming a new joint venture (JV) unit to focus on downstream PV power plants that would be involved in the development, investment, construction and sale of projects with an initial investment of around US$290 million.