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New Energy World™
New Energy World™ embraces the whole energy industry as it connects and converges to address the decarbonisation challenge. It covers progress being made across the industry, from the dynamics under way to reduce emissions in oil and gas, through improvements to the efficiency of energy conversion and use, to cutting-edge initiatives in renewable and low-carbon technologies.
Powering ahead with storage – one thermal block at a time
3/8/2022
5 min read
Feature
There is considerable scope for new, long-duration thermal energy storage to help Australia’s electricity system accommodate larger quantities of new renewable generation. And this could be installed at existing coal-fired power stations, explains Erich Kisi, CEO of MGA Thermal.
The global energy supply is in disarray and, for many Australians, the recent chaos in the electricity market has been unsettling. It’s a complex situation, but one which doesn’t require a complex solution. The time has come for Australia to accelerate its transition away from fossil fuels and instead turn its attention to renewables and long-duration energy storage to escape the ongoing threat of blackouts and skyrocketing power prices.
Against the backdrop of coal-fired plant closures, the Australian Energy Market Operator (AMEO), responsible for the national electricity network, has already implemented emergency measures to ensure Australian homes can remain powered during periods of peak demand. It expects a nine-fold increase in renewable capacity by 2050 to meet Australia’s zero emissions targets.
The solution is clear; we know that renewable energy solutions will reduce reliance on fossil fuels, Australia’s emissions output and carbon footprint. Not only will renewable energy future-proof Australia’s national energy supply, but it will also act as the backbone for a stable power economy. However, renewable energy sources come with their limitations – especially when at the mercy of unreliable weather conditions. There’s a gap here that needs filling.