Booming renewable energy generation halves wholesale power prices across national grid
11 months ago

Booming renewable energy generation halves wholesale power prices across national grid

ABC  

Rapid growth in renewable generation slashed the wholesale cost of power in the national energy grid late last year, and dramatically reduced reliance on coal-fired power. Key points: ​​​​​Power supplied by large-scale renewables and rooftop solar soared in the last three months of 2023 The influence of renewables on the grid will only grow Renewables are more regularly pushing the spot price of power in the grid below zero Prices more than halved in the final three months of 2023 compared to the same period in 2022, as power supplied by large-scale renewables and rooftop solar soared. A new report from the Australian Energy Market Operator lays out the increasing role renewables are playing in the energy grid, reaching 72 per cent of the total demand for power on the east coast at times during the three months. "We are regularly seeing records set for the higher contribution of renewables and lower levels of energy drawn from the grid because of rooftop solar," he said.

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History of this topic

Australia's solar power surge is world-leading, but energy storage is lagging. Are cheaper household batteries inevitable?
4 months, 3 weeks ago

Australia's solar power surge is world-leading, but energy storage is lagging. Are cheaper household batteries inevitable?

ABC  

On a suburban street in Perth, amid the pre-war homes and the peppermint trees, evidence of Australia's transforming energy system is all around. But in WA – home to the world's biggest isolated or "island" grid in the south western corner of the state – the uptake of solar also poses some thorny questions. Mr Wood said about 75 per …

The federal government is making a billion-dollar bet on Australian-made solar panels. Some aren't convinced it'll pay off
6 months ago

The federal government is making a billion-dollar bet on Australian-made solar panels. Some aren't convinced it'll pay off

ABC  

In short: The federal government hopes $1 billion in funding can transform Australia's tiny solar industry into a global competitor. Leading economists have poured substantial doubt on the idea — and argue cheap Chinese solar panels are an advantage as Australia builds industries like green hydrogen. And when the government's own Treasury Department put together a "national interest framework" for …

'Staggering' rise of rooftop solar to put all other power generation in the shade, report finds
10 months ago

'Staggering' rise of rooftop solar to put all other power generation in the shade, report finds

ABC  

In short: The capacity of rooftop solar will soon exceed that of coal, gas and hydro combined in Australia's main grid, a green energy report finds. The capacity of rooftop solar will soon exceed that of coal, gas and hydro combined in Australia's main grid, a green energy report finds. The capacity of rooftop solar in Australia will eclipse the …

Australia will fall well short of 82 per cent renewable energy by 2030, analysts predict, as problems mount
1 year, 4 months ago

Australia will fall well short of 82 per cent renewable energy by 2030, analysts predict, as problems mount

ABC  

Plans by the federal government for Australia to generate more than four-fifths of its power from renewable sources by 2030 are coming under pressure amid claims the country is way off track. Key points: There are increasing suggestions Australia will fall short of its 2030 renewable power target of 82 per cent Analysts predict Australia's share of renewable energy is …

How to save on winter energy bills as electricity prices and cost of living surge
1 year, 6 months ago

How to save on winter energy bills as electricity prices and cost of living surge

ABC  

Energy prices and the cost-of-living crisis are putting a squeeze on Aussie households. Keep the heat in Chris Barnes from Choice says the cheapest heater "is the one you don't run in the first place". "It does cost more up-front to buy it and install it but it's going to deliver a lot more heat energy for the electricity it …

Rooftop solar poised to become Australia's biggest power source amid coal's demise
1 year, 9 months ago

Rooftop solar poised to become Australia's biggest power source amid coal's demise

ABC  

Rooftop solar is poised to overtake coal as Australia's biggest source of generation capacity, as the rapid pace of new installations accelerates the decline of fossil fuel-fired power. Key points: Industry body SunWiz says rooftop solar is poised to become Australia's biggest source by capacity The forecast tipping point will be reached when AGL's Liddell coal-fired plant closes in April …

Australia adding green energy at less than half the required rate to keep grid stable: UNSW
1 year, 10 months ago

Australia adding green energy at less than half the required rate to keep grid stable: UNSW

ABC  

Australia is adding renewable energy at less than half the pace required to replace retiring coal-fired generation and meet its own 2030 climate targets, one of the country's top energy experts says. Key points: University of NSW research shows the growth rate of green energy needs to more than double A senior researcher says grid stability is at stake as …

Australia 'on track' to generate half its electricity from renewable sources by 2025, report finds
2 years, 5 months ago

Australia 'on track' to generate half its electricity from renewable sources by 2025, report finds

ABC  

Australia is on track to generate half its electricity needs from renewable sources within three years, according to a report highlighting the extraordinary pace of change underway in the country's energy system. Key points: The Australian Academy of Technological Sciences and Engineering says the country's renewable energy share will rise to 69 per cent by 2030 The academy is calling …

Is our energy supply in crisis? What's the National Electricity Market? Can it be fixed?
2 years, 6 months ago

Is our energy supply in crisis? What's the National Electricity Market? Can it be fixed?

ABC  

We saw something unprecedented last week. The NEM supplies around 10.7 million customers, Factsheet: the National Electricity Market, December 2021) The entities that generate electricity for the system use a range of energy sources and that "generation mix" is transforming rapidly. Australia's energy spot market suspended by market operator Photo shows roofs of houses, most of them with solar panels …

Wholesale power prices soared 141 per cent, year on year, and households should brace for more
2 years, 7 months ago

Wholesale power prices soared 141 per cent, year on year, and households should brace for more

ABC  

Households already battling rocketing living costs are facing more pain via their power bills, with the body that runs the electricity market saying prices in that sector have also surged in the past year. Key points: AEMO says wholesale electricity prices in the NEM rose 141 per cent in the first quarter compared with last year Coal plant outages, higher …

As household solar stresses the grid, WA and South Australia will have the power to turn it off
2 years, 10 months ago

As household solar stresses the grid, WA and South Australia will have the power to turn it off

ABC  

Authorities are moving to gain more control over rooftop solar panels amid a ballooning number of installations that are threatening to overload the grid at certain times. Key points: From February 14, Western Australian authorities will have the power to switch off rooftop solar panels when the grid is under stress The new regulations will only apply to new and …

Australian power prices now 'among lowest in the world' as renewable energy drives costs down
2 years, 10 months ago

Australian power prices now 'among lowest in the world' as renewable energy drives costs down

ABC  

A flood of renewable energy has helped drive down household power prices to their lowest levels in almost a decade, according to a report which suggests Australia has some of the cheapest electricity in the world. Key points: Australia ranked 10th lowest among advanced economies for the average price of electricity Industry analysis finds power prices are their lowest in …

Solar power prices are falling. What does this mean for our household electricity bills?
3 years ago

Solar power prices are falling. What does this mean for our household electricity bills?

ABC  

After a long decade of year-on-year increases in power prices throughout the country, the cost of electricity is forecast to fall in most places. There's even talk in some quarters that solar could one day fulfil the unrealised promise of nuclear power to generate electricity so abundant that it would be "too cheap to meter". Professor Green's forecast even outpaces …

National energy market report details expected power bill price drops across Australia
3 years, 1 month ago

National energy market report details expected power bill price drops across Australia

ABC  

Household power bills are predicted to continue falling in the coming years, despite the closure of major power stations including Liddell power station in New South Wales. Key points: An Australian Energy Market Commission report predicts reduced power bills over three years However, bills are expected to rise slightly in 2022/23 before falling The report notes an increasing amount of …

Solar panels, cooler summer drive power prices into negative territory in South Australia
3 years, 7 months ago

Solar panels, cooler summer drive power prices into negative territory in South Australia

ABC  

South Australia's high uptake of renewables has led to another national energy milestone, with record low daytime wholesale prices in the first three months of the year. Key points: Daytime wholesale prices were consistently in negative territory in SA That was driven by renewable energy, but gas generators were needed to help stabilise the grid Wholesale prices across the country …

Australians with rooftop solar panels could soon be charged for exporting power into the grid, under proposed changes
3 years, 9 months ago

Australians with rooftop solar panels could soon be charged for exporting power into the grid, under proposed changes

ABC  

Australians with rooftop solar panels could soon be charged for exporting electricity to the grid, under new rules being recommended by the Australian Energy Market Commission. Key points: The Australian Energy Market Commission says surplus solar electricity generation is causing "traffic jams" in the grid It says removing the ban on charging for energy exported into the grid will create …

Renewable energy boom could force coal power to close early, says new report
3 years, 10 months ago

Renewable energy boom could force coal power to close early, says new report

ABC  

An analysis of Australia's energy market has found a number of the nation's coal-fired power stations could be financially unviable by 2025 and at least one may be forced to close early. Key points: Solar and wind plants will add 70,000GWh to the grid by 2025 Coal-fired generation will drop by 28 per cent Industry acknowledges increasing pressure The joint …

10 ways renewable energy’s boom year will shape 2021
3 years, 11 months ago

10 ways renewable energy’s boom year will shape 2021

Live Mint  

Despite the pandemic, the new year begins with surging growth for renewable energy. America’s solar broke good and bad records Residential installations in the US dropped nearly 20% in the second quarter of 2020 from the first—the most ever—as the pandemic prompted stay-at-home orders, according to Wood Mackenzie and the Solar Energy Industries Association. On the plus side, though, bids …

Bluewaters coal-fired power station written off as worthless as renewables rise
4 years ago

Bluewaters coal-fired power station written off as worthless as renewables rise

ABC  

The owners of Australia's newest coal-fired power station have written down the value of the asset to zero, wiping out a $1.2 billion investment in the face of an onslaught of renewable energy. Key points: The Bluewaters coal-fired plant in Collie is barely ten years old Its Japanese owners have written it off as worthless The move is being pinned …

Electricity provider authorised to switch off rooftop solar in SA in emergencies
4 years, 3 months ago

Electricity provider authorised to switch off rooftop solar in SA in emergencies

ABC  

Authorities in South Australia will have the power to deliberately "trip" existing rooftop solar panels in rare circumstances to prevent another statewide blackout, with similar emergency powers being sought for use in Victoria and Queensland. Key points: Rapid take-up of solar panels has shifted demand on the electricity grid South Australia, Victoria and Queensland face a heightened risk of blackout …

Renewables could power most of Australia by 2040, Australian Energy Market Operator plan shows
4 years, 4 months ago

Renewables could power most of Australia by 2040, Australian Energy Market Operator plan shows

ABC  

There could be periods where the nation's homes and businesses are powered almost entirely by renewables, under a plan put forward by the Australian Energy Market Operator. Key points: By 2035 there may be periods where 90 per cent of power comes from renewables The report says gas could play a bigger role but only if prices remain low The …

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