Energy Storage

Given the goings-on in the world this last quarter, Mike Jefferies, Investment Manager at Octopus Investments Australia, takes a look at the current macroeconomic environment, how this is tied to energy markets, the impacts Russia’s invasion of Ukraine has had on that energy market, what this could mean for Australia and how renewables could help address these issues.

The Australian Government has committed more than $240 million to critical minerals projects in a bid to end Australia’s reliance on China and cement its place in the rapidly growing global electric vehicle and battery markets.

For short-term storage in a 100% renewables grid, thermal energy storage located at concentrating solar power plants could compete with batteries, found a study using an idealised grid model. Seasonal storage needs could best be met with power-to-gas-to-power technology.

Australia’s largest energy retailer Origin Energy has ramped up plans for the delivery of large-scale renewable energy projects as it prepares to replace the capacity set to be withdrawn from the grid with the impending closure of the nation’s biggest coal-fired power station.

Mine sites across Western Australia are decarbonising after Zenith Energy and modular solar pioneer 5B signed an Ecosystem Framework Agreement-Deployment, which will see 5Bs rapidly deployable Maverick solar systems installed along with battery energy storage systems at multiple mine sties.

The London-based analyst has published a series of clean tech predictions for the year which also highlighted the rising proportion of sub-5MW solar projects in the global market, and cheaper clean energy financing costs even as panel prices continue to rise.

Researchers from Australia’s Monash University have created a new generation of lithium-sulfur batteries that they say provides a cheaper, cleaner and faster-charging energy storage solution that outlasts lithium-ion alternatives and is rechargeable hundreds of times without failing.

Developed by Germany-based hydrogen specialist Enapter, the EL 4.0 electrolyser is based on a patented anion exchange membrane (AEM) technology. Commercial production is currently being prepared at the company’s Italian plant and the first shipments should be made in the summer.

Australian company Natural Solar has seen a 400% increase in battery installs across Australia within two years. The company’s CEO Chris Williams told pv magazine Australia that Victoria has led demand, growing 350% in the second half of 2021 alone. Williams believes the surge has been driven by several compounding factors.

Renewable energy investors have again shattered the New South Wales Government’s expectations with more than 80 clean energy projects representing more than $100 billion of potential investment registering for the Hunter-Central Coast Renewable Energy Zone.