Currently, energy storage Australia is witnessing strong development thanks to the application of advanced technologies and support policies and investments from the government. In this article on Alternō, let’s learn more about the energy storage situation in Australia right after this!
1. What is battery energy storage?
Energy storage is the act of storing electrical energy for later use, helping to maximize the use of renewable energy and provide a flexible source of energy for users. One of the most common and practical ways of storing energy is using storage batteries. Batteries are a type of energy storage device that stores energy in chemicals that can be absorbed and released as needed. The most popular battery type for storing energy is lithium-ion.
Batteries and energy from renewable sources can be combined to store energy during periods of low demand and discharge it (or dispatch it) during periods of high demand. In contrast to many other sources of energy and storage methods, batteries are very useful because they offer flexibility. Due to the fact that they can flip on and off in a matter of milliseconds, they contribute to the reliability of the grid and can react faster than other storage or generation systems.
Batteries can be put in little or big amounts depending on the intended use and can be installed in many different areas. For example, grid-scale or large-scale battery storage (LSBS) will have many batteries deployed together. This can act as a large-scale generator linked to the power system for transmission. Over the next several years, it is anticipated that the use of batteries for renewable energy will rise due to the technology’s adaptability and declining costs.
2. Current state of energy storage Australia
Because of advancements in technology and falling costs, Australia’s electrical grid is likely to continue using more batteries. The Australian Government has established many policies to encourage investment in renewable energy and storage, including tax incentives and subsidies for clean energy projects. Therefore, Australian energy producers and consumers have embraced energy storage technology more and more widely.
Energy storage Australia technology mainly focuses on lithium-ion batteries due to their high efficiency and significant cost reduction in recent years. They are used in areas with poor connectivity or off-grid, the national grid, or behind the meter in businesses and homes. In addition, vanadium redox flow energy storage technology and thermal storage solutions are also being researched and deployed.
The Snowy 2.0 pumped hydropower storage project is a prominent project in Australia in 2020 with a capacity of 2.2 GW. An estimated A$5.1 billion is being invested in the development of the plant. When it is finished, it will be the largest green energy project in Australia and the largest pumped storage plant globally. This project is expected to be commissioned in December 2028. In addition, the South Australian Government’s Household Battery Program has received strong participation from families with more than 7000 household batteries installed.
In the future, Australia aims to develop larger-scale energy storage systems to integrate more efficiently with the national electricity grid, reduce dependence on fossil fuels, and increase the reliability of energy supply. To create a national energy market that is two-sided and will allow for greater involvement from consumers, the Australian government has planned for the integration of batteries into virtual power plants (VPPs).
Integrating batteries into virtual power plants is essential to the energy transition, helping to improve customer outcomes, and assisting regional and local electrical networks. VPPS involves distributed energy networks that include batteries, purchasing and selling energy in real-time, decreasing participant costs, and supplying crucial grid services.
In 2021, the Energy Security Board made changes to market architecture that facilitated additional incorporation of VPPs. These efforts will not only help reduce greenhouse gas emissions but also promote the green economy and create more clean technology jobs.
The Australian government has been making efforts and focusing on the energy sector through supportive policies and investment in modern technology and costs. Stay informed about the latest trends in energy storage Australia and how it can benefit your business or community. Contact Alternō today for expert advice and innovative solutions in energy storage!
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