A new study led by chief scientist Alan Finkel has underlined Australia’s role as a leader in the household battery storage sector, and says Australia can, and should, be a leader of energy storage of all types, including renewable hydrogen as an export opportunity.
Finkel’s new report Taking Charge: The Energy Storage Opportunity for Australia is a 9-page summary and update of a detailed report on energy storage by the Australian Council of Learned Academies (ACOLA) released in November 2017.
Readers may remember that report highlighted how little additional storage was needed – even with up to 35 per cent to 50 per cent wind and solar in the system, but also how critical it would be to a modern, decarbonised grid. Its conclusions were immediately attacked by conservatives as “eco-evangelism”.
The latest report includes updated data – such as the 21,000 battery storage systems estimated to have been installed in Australian homes in 2017.
More importantly, it includes much detail about the opportunities ahead, and comes at an important time as Australia’s political debate once again resolves, sometimes crazily, around the level of wind and solar that can be incorporated into the grid.
“We are entering an era of rapid technological transformation in electricity generation and usage,” Dr Finkel said in a statement.
“Energy storage technologies can not only help us benefit from the transition but to prosper through the creation of new industries, new jobs and opening up export markets.”
The latest report notes the challenge for policy makers is to put storage at the heart of a smarter electricity grid, and deploy it at a grand scale: “supporting the transition to renewable generation sources, helping to match energy supply to energy demand, and empowering consumers to manage their costs.”
It noted that batteries are modular and can be initially installed as small units then scaled up as needs and funds arise.
“Further, they can be installed close to where they are needed, making the transmission costs either small or non-existent. In some cases, batteries can save investment costs by avoiding the need to upgrade distribution lines in cities,” it noted.
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