Australian energy storage trends

Which energy storage technology is best for Australia's energy needs?

The CEC said emerging LDES technologies coupled with the energy storage systems in place, would be the best suite to appropriately manage Australia’s needs. In March this year, the ARENA held an Insights Forum which covered energy storage and technologies that can bring system security to the grid.

What is Australian energy statistics?

Energy data The Australian Energy Statistics is the authoritative and official source of energy statistics for Australia and forms the basis of Australia’s international reporting obligations. It is updated annually and consists of historical energy consumption, production and trade statistics.

How much storage capacity does Australia need?

VPPs are being actively trialled. The current climate Australia’s current storage capacity is 3GW, this is inclusive of batteries, VPPs and pumped hydro. Current forecasts by AEMO show Australia will need at least 22GW by 2030 – a more than 700 per cent increase in capacity in the next six years.

What are the applications for energy storage and current limitations?

Applications for energy storage and current limitations are outlined as: Major grids: These will need a substantial storage capacity as dispatchable generation leaves the grid. It will need to be of varying durations to be able to deal with changes in supply and demand.

What percentage of Australia's electricity is renewable?

“Renewables comprised 39.4 per cent of Australia’s total generation in 2023, an increase of 9.7 per cent in a single year. This is a major increase from 2017, when the share of Australia’s total renewable generation was just 17 per cent. “2023 was also a significant year for construction and new financial commitments to utility-scale storage.

Will Australia achieve 57 GW of renewable electricity capacity by 2027?

Provided Australia can accelerate the implementation of the REZ and related grid projects alongside additional coal retirements, the IEA expects 57 GW of renewable electricity capacity to be achieved by 2027. This forecast also includes Snowy Hydro adding 2 GW by 2026 or 2027.