12.4 C
Byron Shire
June 15, 2021

CSIRO: renewables still cheapest new-build power

Latest News

You Can Close Your Eyes

There is a beautiful James Taylor song (‘You Can Close Your Eyes’) that commences with the words; Oh, the sun is surely sinking down, But the moon is slowly rising. 

Other News

Vaxx info – get it right

Eve Sinton, Main Arm I have a concern about the ‘Byron rally highlights govcorp tyranny’ story last week. Now the Mullumbimby hairdresser...

Mullumbimby home seriously damaged in fire

A home on Ann Street, Mullumbimby, was badly damaged in a house fire over the weekend.

You Can Close Your Eyes

There is a beautiful James Taylor song (‘You Can Close Your Eyes’) that commences with the words; Oh, the sun is surely sinking down, But the moon is slowly rising. 

High school attack

Dan Reade, Ocean Shores Mandy Nolan’s ‘Soapbox’ claim that schools have remained unchanged for the last 200 years, seems only informed...

NSW Govt overhauls Crown land management 

A management plan that will impact approximately 42 per cent, or around 34 million hectares of NSW, has been announced by the NSW government.

The ghost in the archives #7

On June 19 thirty years ago came the front-page news that Mullumbimby was to have a levee bank, a decision later reversed, obviously. Councillors made the decision without a public meeting beforehand.

Together with solar, wind continues to be the cheapest source of new-build energy.

Though the Prime Minister and his mob continue to sell us the idea of coal and gas, a new report released today shows that solar photovoltaics (PV) and wind continue to be the cheapest sources of new electricity generation capacity in Australia, even when the integration costs of renewables are included,

Each year Australia’s national science agency, CSIRO, and the Australian Energy Market Operator (AEMO) consult with industry stakeholders to estimate the cost to generate electricity for new power plants in Australia through the GenCost report.

This final 2020-21 report used a new, more accurate approach for analysing the cost of renewables like solar and wind, to include additional ‘integration’ costs such as storage and new transmission infrastructure, and still found solar and wind continue to be the cheapest sources of new-build electricity generation.

CSIRO Chief Energy Economist Paul Graham said an early draft of the report, released to stakeholders in December 2020, had been improved to reflect feedback about the impact of weather variability on driving up these integration costs.

Year to year weather variability

‘The final report addresses this feedback: our analysis of renewable integration costs now includes greater recognition of this year to year weather variability and the impact it has on electricity demand and supply,’ said Mr Graham.

‘We took the integration costs from the highest of nine historical weather years.’

Stakeholders asked that the analysis recognise batteries are achieving longer lives before they need to be replaced and costing less, meaning the costs of storage from batteries is lower than previously thought.

This report concludes that: Solar and wind continue to be the cheapest sources of new-build electricity; Battery costs fell the most in 2020-21 compared to any other generation or storage technology and are projected to continue to fall. Lower battery storage costs underpin the long-term competitiveness of renewables; Pumped hydro is also important and is more competitive when longer durations of storage (above eight hours) are required, and; The new approach is a model of the electricity system that optimises the amount of storage needed, and also includes additional transmission expenditure.

Previous reports added arbitrary amounts of storage costs and did not include transmission or other costs.

This report includes hydrogen electrolysers for the first time and finds that hydrogen is following a similar trajectory to more established renewables. With increased interest in global deployment, and many demonstration projects worldwide, substantial cost reductions in hydrogen technologies are expected over the next decades.

Today’s report is the third GenCost report, following the inaugural report in 2018.

Read the final report here: https://www.csiro.au/-/media/EF/Files/GenCost2020-21_FinalReport.pdf.


Support The Echo

Keeping the community together and the community voice loud and clear is what The Echo is about. More than ever we need your help to keep this voice alive and thriving in the community.

Like all businesses we are struggling to keep food on the table of all our local and hard working journalists, artists, sales, delivery and drudges who keep the news coming out to you both in the newspaper and online. If you can spare a few dollars a week – or maybe more – we would appreciate all the support you are able to give to keep the voice of independent, local journalism alive.

1 COMMENT

  1. CoalMO and his sidekick AnGas not for turning on FF as they keep the knee on renewable energy and boost fossil fuel adventures to maintain the flow of $’s Fossil Fuel Industry bribes and donations into COALition HQ.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Healthy Minds Club powering ahead

Since The Echo last spoke to Lennox Head's Jackson Connellan, from The Healthy Minds Club, things have become even busier. Formed originally in response to...

Gambian: ‘State budget must encourage uptake of electric vehicles’

The Nature Conservation Council has launched a campaign to accelerate the uptake of electric vehicles in NSW, with a video and a petition.

Two WRHS rescue flights from Tabulam in one day

The Westpac Rescue Helicopter Service (WRHS) say they travelled to Tabulam twice yesterday in separate incidents in the town.

Drug and firearm offences – Tweed Heads

Police say a man has appeared in court after allegedly being found in possession of firearms, drugs and nearly $10,000 cash in Tweed Heads.