Long duration storage technologies will play a key role in maintaining the security and reliability of Australia’s energy system as more renewables are brought online and as coal generation retires, a new report by the Clean Energy Council (CEC) has found.
Launched at the CEC’s Australian Large-Scale Solar and Storage Summit (ALSSSS) in Brisbane, The future of long duration energy storage report provides a comprehensive overview of how different storage technologies can keep costs down and firm renewables as the energy transition progresses.
The key insights from the report include:
- This report introduces some of the emerging ‘alternative’ long duration energy storage (ALDES) technologies. These are new technologies that can provide sustained energy supply.
- ALDES technologies complement lithium batteries and pumped hydro energy storage, to replace fossil fuel generation. Working with CEC members and experts, we have explored how these emerging ALDES solutions can enable a faster, safer and lowest cost transition.
- Our report explores the ALDES technologies of compressed air energy storage, thermal energy storage and redox flow batteries. These are some of the most interesting ALDES solutions developed in Australia, forming a portfolio of storage solutions.
- The need for these solutions is on us right now. As each coal generator exits we need to find new ways of providing energy to meet customer demand. Energy storage, coupled with bulk renewables, is the fastest and lowest cost way to deliver this as the exit of coal generation accelerates.
- ALDES and long duration energy storage generally are key to maintaining reliability of supply. Energy storage complements transmission and renewables, moving energy through time to when it’s most needed while reducing total infrastructure required to be built, lowering costs and customer energy bills.
- Australia must start building tomorrow’s post-coal energy system right now. Renewable generation, transmission and long duration energy storage must be ready well in advance as ageing coal-fired power stations are decommissioned, move to changed operational patterns or are mothballed.
- Nuclear and gas are not the solution. Nuclear is an uneconomic technology and is a poor fit for Australia. Gas generation may play a small role in the energy transition, however, it simply cannot provide enough energy while staying within carbon budgets. Underlying pipeline and gas supply constraints will also limit its viability as a long term solution.
“Emerging forms of ALDES solutions are well-equipped to support system security and reliability, by providing bulk energy reserves, inertia and system strength,” said Clean Energy Council Policy Director – Market, Investment & Grid, Christiaan Zuur.
“These technologies support reliability in a changing power system by carrying significant volumes of stored energy over long periods of time. These substantial energy reserves are key to replacing coal generation as it exits the system. They also enable firming of renewable generation, further helping to support overall system reliability.”
“Another key benefit of long duration storage, including the ALDES solutions in this report as well as pumped hydro, is their ability to provide long term energy firming contracts. These contracts will be key to supporting competition in the retail market, which in turn is central to keeping prices down for consumers.
“ALDES is an important part of the total storage portfolio. Building this portfolio of storage solutions now will accelerate the transition and ensure that Australians continue to benefit from reliable, low cost and zero carbon energy supply into the future.”
ENDS
For more information or to arrange an interview, contact:
Liam Straughan
Clean Energy Council Media Officer
+61 409 470 683