The new storage targets include both short- and long-duration energy storage systems – some of which could hold more than eight hours of energy – including batteries, hydroelectricity and hydrogen technologies.
Victoria is home to the largest battery in the Southern Hemisphere – the so-called “Victorian Big Battery”, a 300-megawatt battery just outside Geelong. The number of smaller, community batteries has also increased.
Last week, the state’s greenhouse gas emissions report showed Victoria had reduced carbon emissions to about 30 per cent below 2005 levels by 2020. This was well beyond the state’s target to cut emissions by 15 to 20 per cent.
In March, the state government announced plans to accelerate the transition away from coal and set Australia’s first offshore wind energy targets.
Tuesday’s announcement was welcomed by environment and clean energy groups, which said that until now, there had been no overarching plan to coordinate public and private investment in storage capacity at either a state or federal level.
The targets would help to deliver a more reliable grid as the state transitions away from expensive, polluting and failing coal-fired power generation, said Clean Energy Council chief executive Kane Thornton.
“The Australian Energy Market Operator has made it clear that significant amounts of new energy storage capacity is needed,” Thornton said. “In committing to delivering on big targets for energy storage, the Victorian Government is sending a critical signal that will help bring much-needed investment to the state.”
Energy storage was one of the crucial “missing pieces” in Australia’s transition to 100 per cent clean energy, said Environment Victoria chief executive Jono La Nauze. And he urged the Liberal-National Coalition to make a bipartisan commitment to implement or improve the storage target should they win office.
“Sensible environmental policy shouldn’t belong just to one side of politics,” La Nauze said.
The government has previously announced investments in energy storage, including 10,000 batteries in Victorian homes, a 300-megawatt grid-scale battery storage project in Geelong, and the 350-megawatt utility scale battery slated for Yallourn.
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A spokesperson for renewable energy developer ACCIONA Energía, which is currently constructing the biggest wind farm in the Southern Hemisphere in Western Queensland, said a storage target was a critical signal for investment.
“These are ambitious target, but ones the industry can achieve. We look forward to learning more details over the coming months.”
The announcement comes as the independent panel chosen to advise the Victorian government on its 2035 Emissions Reduction Target prepares to recommend options.
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Originally published at Sydney News HQ
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