Innovation will be stifled right across the clean energy sector if the Australian Parliament supports legislation to remove future grant funding available from the Australian Renewable Energy Agency (ARENA), according to a briefing paper released today by the Clean Energy Council.

Despite most international and domestic module suppliers increasing their sales volumes in India over the last year, Chinese firms have significantly increased their share of the market from 50% to 75%, according to the latest update from consultancy firm Bridge to India.

Golden Concord Holdings Ltd., the Chinese clean-energy group, is seeking to acquire assets from bankrupt U.S. renewable-energy giant SunEdison Inc., people familiar with the company’s plans said.

While renewable energy is now the cheapest kind of new power generation that can be built right now in Australia, the goal of a zero-emission energy sector is still lacking a vital piece – affordable large-scale energy storage that will continue to pump out electricity after the sun goes down and the wind stops blowing.