32 °C Singapore, SG
July 3, 2020
Latest News
5 trends this decade that will shape Singapore’s switch to electric mobility IEEFA Philippines: Reshaping the power market by moving towards renewables and energy resilience by 2021 In 2020’s biggest energy deal, six global firms strike $20 billion agreement with Abu Dhabi state oil giant Sport’s carbon footprint is global bad news Just Launched: Renewables 2020 Global Status Report Australia’s 5GW wind energy pipeline celebrated on Global Wind Day Standing tall: How green buildings are adapting to the post-Covid era Australia’s most efficient solar cell, next to ‘revolutionise an entire industry’ IEEFA India: Prime Minister Narendra Modi’s new ‘One Sun One World One Grid’ vision positive Carbon-neutral aircraft might work with ion drive New coalition says offshore wind could power 10% of world’s energy demand IEEFA: Renewables continue to break records despite COVID-19 TEPCO to invest more than $9bn in renewables before 2030 New York’s Siting Board approves 340MW Alle-Catt wind facility Millions of species face extinction emergency Indian energy giants to form renewables JV Siemens Gamesa reveals world’s largest wind turbine Report: HVDC powerlines and green hydrogen are most cost-effective way to decarbonize global energy system Webinar: What impact is Covid-19 having on global CO2 emissions? Tropical forests can still store ‘high levels’ of carbon under 2C of warming Five reasons why now is a good time for a fee on carbon emissions It’s a bigger threat than coronavirus, but for decades, we’ve done very little to fight it US Interior department approves plan for the largest solar project in U.S. history General Motors to purchase 100 MW of solar energy to power Spring Hill Risk management for energy efficiency investments COVID-19 recovery and climate action: In interview with Energy Cities IEEFA Asia: Asian financial institutions also beginning to exit coal financing Analysis: Coronavirus has cut CO2 from Europe’s electricity system by 39% New UK statistics reveal biofuels boost New Wpd joint venture targets Taiwanese auction

Australia’s new energy roadmap calls for dozens of new renewable energy projects

Updated December 12, 2019 09:00:00

Australia needs dozens more renewable energy projects to offset the loss of more than 60 per cent of Australian coal power plants that will close over the next two decades, the energy market operator has forecast.

Key points:

  • The AEMO roadmap says rooftop solar will account for nearly a quarter of all energy consumption by 2040
  • It lists priority projects for investment including a new undersea power link between Victoria and Tasmania
  • The number of energy plants will need to more than triple, the forecast says

A major upgrade of the electricity transmission wires will also be needed to get the new energy generated to homes and businesses, the Australian Market Energy Operator (AEMO) said.

Rooftop solar is set to play a role, with nearly a quarter of all energy consumption to come from residential and business solar panels by 2040.

To offset the decline of coal there would need to be a more-than-tripling of renewable energy plants that are already established or will be installed in the next two years, the forecast said.

In a “roadmap” for the next 20 years, AEMO said renewable energy with dispatchable power would be the lowest cost for consumers.

“To maximise economic benefits, as traditional generators retire, Australia must invest in a modern energy system with significant consumer-led distributed energy resources — such as rooftop solar — and utility-scale variable renewable energy, supported by sufficient dispatchable resources and well-targeted augmentations to the electricity network,” AEMO chief executive Audrey Zibelman said.

To get new renewable energy generation from power plants to consumers, AEMO said the current transmission network needed to be upgraded.

The draft report highlights several “priority” projects for investment including:

  • A new undersea power link between Victoria and Tasmania
  • A new transmission line from Robertstown in South Australia to Wagga Wagga in NSW
  • A new connection from Western Victoria where wind plants are being built, to southern NSW and the Snowy 2.0 pumped hydro
  • Upgrades of the existing interconnection between Queensland to NSW and Victoria to NSW
  • Improvements to the transmission system in Victoria to allow renewable energy to get to homes

The operator forecasts the future National Energy Market will be “a diverse renewable, gas-powered and distributed generation, supported by energy storage and network solutions”.

The report said 15 gigawatts (GW) or 63 per cent of Australia’s coal-fired generation is likely to retire by 2040.

This will have to be replaced by at least 30 GW of new grid-scale renewables above what is already committed.

“More renewables are required to replace conventional generators because of their naturally lower capacity factor,” said the report.

Renewable energy development zones are earmarked across the five states.

And to support the transition away from a coal-based market, there needs to be up to 21 GW of dispatchable resources through pumped hydro or battery storage.

Efficient gas plants could be effective, especially if gas prices came down.

Read more about our energy future from our Power Switch series:

Topics: energy, environment, alternative-energy, solar-energy, electricity-energy-and-utilities, industry, coal

First posted December 12, 2019 05:05:55

Source

Leave a Reply

Your email address will not be published. Required fields are marked *