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With technology changing the way we use electricity, Australia's energy storage market will grow more than 10 times to about 3000 MW by 2030, according to a new report.
Energy reserves in Australia
In the business opportunities, barriers and policy options report released yesterday, Australian policy makers must start planning to integrate a large amount of energy storage into the electricity market, to ensure that the industry's reforms keep pace with technological change.
The report, written by Marchment Hill Consulting, the industry summit of the Clean Energy Commission, says energy storage is becoming a potential means to support existing power networks.
It is also conducive to the efficient operation of the power market, improve the stability of the power grid, and meet the needs of residents and commercial customers.
"On the scale of utilities, cheap storage will unleash the full potential of Australia's huge renewable energy and accelerate the transition to a clean energy economy," the report said . ".
"For the home, the storage option will give the home the opportunity to be completely independent of energy, in-
Leave the grid as a safety net and even completely abandon it.
"Adelaide company ZEN Energy Systems is a company at the forefront of the development of household and commercial Energy storage Systems, with its battery-
Freedom of PowerBank.
Other common types of energy storage include solar hot water systems, pumped storage, and Flywheel energy storage.
The report predicts that by the end of the decade, energy storage costs will fall from about $800 per kilowatt to $550.
According to current trends and projected costs, the storage market is expected to reach 3000 MW by 2030.
However, the report says that in the short term, the most economical storage market will be remote areas and the edge of the grid, where electricity is expensive and often unreliable.
Tim Sonnreich, policy manager at CEC, said that like mobile phones and emails, the changes brought about by energy storage will create many new opportunities.
"The power system in Australia can only store a very small amount of electricity, but this has begun to change," he said . ".