Smart meter time of use pricing to drive up household energy costs without the help of solar and batteries
New research released this week by The Australia Institute shows that ‘time of use pricing’ (ToU) facilitated by smart meters is likely to drive up household energy costs by $429 a year on top of already high prices. Analysis of national electricity market data suggests that demand for electricity in Australia is very inelastic, which makes ToU more likely to increase the profits of electricity companies than to assist consumers. Households with solar PV and batteries, however, are best suited to cope with this type of pricing.
Genex’s Kidston pumped hydro project lands $610 million federal loan
Australia’s first large-scale project to use pumped hydro to store solar generated power, the Kidston facility in north Queensland, has landed a $610 million loan from the Federal Government’s the Northern Australia Infrastructure Facility (NAIF).
Planet Ark Power smooths the way for urban solar farms
Voltage regulation creates challenges for grid operation, particularly at high penetration levels of solar and other distributed renewables. Fresh being recognised as energy transition pioneers at the recent Startup Energy Transition (SET) Awards in Berlin, Planet Ark Power and its behind-the-meter technology is looking to dynamize Australia’s, and the world’s, energy grids with distributed clean energy.
WA government looks to bolster battery minerals sector
The McGowan Government is continuing to forward WA’s Future Battery Industry Strategy with the launch on a new early-stage funding initiative. On Wednesday, the government announced a new online Funding Assistance Register, a further boost to the state’s ambition toward a world-leading, sustainable, future battery industry by 2025.
Two top solar innovators honoured at national engineering awards
Two UNSW affiliated solar engineers have been honoured as some of the country’s most innovative engineering minds at the annual Engineering Australia award ceremony this week for their work on ground-breaking solar solutions.
High voltage interconnection in place, installation set to get underway at WA’s largest PV project
Chinese PV module maker and project developerRisen Energyis pushing its 132 MW Merredin Solar Farm in WA’s Central Wheatbelt towards full scale installation. The company is hungry to meet its ambitious goal to develop 2 GW of large-scale solar PV projects in Australia.
Vicinity sets net zero carbon target by 2030, as $73 million solar program nears completion
On the back of a combination of its industry-leading solar program and energy efficiencies, Vicinity Centers has announced a zero net carbon target by 2030 for its 34 shopping centers.
UniSA research finds batteries make economic sense in South Australia
Under the right conditions, solar batteries are economically beneficial for South Australian homeowners and can pay for themselves off within the warranty period, a new research finds.
AEMO: Australia will need 15 GW of utility-scale storage by early 2040s
Increased storage and strategic transmission development will be needed to ensure the lowest cost and risk transition of Australia’s energy system, the Australian Energy Market Operator states in its latest study. In 20 years time, the need for storage will be at a scale not seen before in the NEM, and both pumped hydro storage and distributed storage are set to play major roles in lowering wholesale electricity prices and building a reliable and resilient power system.
Industry Super Investment report warns lack of energy policy thwarting investment
Australian super funds have called out for “comprehensive” and “long term” energy policy to be put in place in order to unlock investment in the electricity sector. The Industry Super Funds (ISA) and the Group Super Fund made the call in its Modernising Electricity Sectors report, released earlier this month.
