A new research by Greentech Media (GMT) shows that Australia is leading the global race in energy storage, having installed the most storage technology in the world during 2017, ahead of Germany, the United States and Japan.
According to GMT’s “Global Energy Storage: 2017 Year in Review and 2018-22 Outlook” Australia installed an astonishing 246 megawatts (MW) of energy storage power capacity, enough to power almost 400,000 homes at one time, while also taking second place for energy capacity (MWh).
“Australia is on an energy storage winning streak and was also recognised as having the biggest household storage market anywhere in the world last year,” climate councillor and energy expert Greg Bourne said.
“Our transition to clean, reliable and affordable renewable energy and storage technology is already in full swing, with the nation home to the most powerful lithium ion battery in the world plus a collection of new storage projects in the pipeline.”
Bourne, the former President of BP Australasia, said renewables plus storage technology was a winning combination for tackling worsening climate change, while also making economic sense.
“In the past eight years the price of lithium-ion batteries has dropped by 80% and is tipped to halve again by 2025, which is driving investment in this booming industry both here and abroad,” he said.
Earlier this week, the United Nations also released the latest renewable energy data for 2017 where Australia again was ahead of the pack, with investments jumping 147% to $11 billion (AU).
“Renewables and energy storage such as batteries will ensure the nation’s grid is fully charged, especially during extreme weather events such as the heatwaves being experienced in South Australia this week,” he said.
“Our states and territories are leading the renewables and energy storage race, transitioning us to a 21st century energy grid Australians can be proud of.”
“Unfortunately, the Federal Government’s proposed National Energy Guarantee (NEG) could put all of this at risk.”
“This new data shows exactly what Australia is capable of and that we are truly global leaders in renewables and battery storage – let’s keep the momentum going and continue to move away from ageing, polluting and inefficient fossil fuel power.”