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Focus on battery storage could be a cost-effective energy goal for Albanese government, report says
(The Guardian, 30 May 2022) With electricity bills soaring, a national Renewable Electricity Storage Target may be one way of achieving lower emissions – and lower prices.
The Albanese government should redirect some of the $20bn earmarked for its Rewiring the Nation plan to support a storage goal that would turbocharge the take-up of batteries and other methods to store power, according to a Victoria Energy Policy Centre report.
The paper, released on Tuesday by the independent group, said the market alone was unlikely to achieve either the bipartisan-supported net zero emissions goal by 2050 nor Labor’s pledge to lift Australia’s current 2030 emissions reduction goal by almost two-thirds. The former would require a 20-fold increase from existing storage levels.
In the absence of a carbon price, the federal government could introduce a storage goal, based on the Renewable Energy Target that spurred investment by requiring retailers to allocate a rising share of clean energy to 2020. The new target would be more effective than Labor’s election promise of investing a lot more on transmission.
The Guardian, 30 May 2022: Focus on battery storage could be a cost-effective energy goal for Albanese government, report says
