Dramatic changes in demand meaning Australia needs virtually no new coal or gas baseload generation over the next decade plus the development of new water and salt-based batteries at WA’s Murdoch Uni signal change.
Decreasing Demand And Growth In Small-Scale Generation Investment
Small-scale generation investment has increased rapidly over the last three years according to AEMO (Australian Energy Market Operator) and the Large-scale Renewable Energy Target (LRET) is driving continued investment in wind generation capacity.
Since 2007-08 the influence of mild summer temperatures (with fewer and shorter high-price peak periods), reduced demand, the growth of rooftop solar PV plus the increasing capacity of connected wind farms has put downward pressure on energy prices.
Cheap, Reliable Power Storage
Researchers at Murdoch University have developed a water-based sodium-ion battery that could solve one of the renewable energy industry’s greatest challenges: cheap and reliable power storage for intermittent resources like wind and solar.
The battery is safe and cost-effective with high energy density. It has ‘excellent potential for large-scale use, including storing energy from wind turbines and solar farms for later feeding into local electricity grids, as well as use in industry.’