Their findings suggest that fully renewable energy solutions would necessitate a substantial scale-up in both generation and storage capabilities. By linking the eastern and western grids, the model predicts a potential decrease in the need for generation capacity by 6% and a reduction in storage power capacity by 14%.
Wind energy would play a pivotal role in a renewable-only grid, providing 50-75% of the energy. Adequate storage is essential, with requirements reaching up to four times the current demand. This equates to 13 times the current storage power capacity and over 40 times the energy storage capacity, considering technologies like batteries, pumped hydro, and hydrogen.
Achieving an 82% renewable grid would demand less, only a fourfold increase in storage power capacity and a threefold rise in energy capacity. The researchers estimate that reaching a fully renewable grid would cost between A$130-150 billion, which is about 8-10% of Australia's GDP, assuming advancements and cost reductions in future technologies.
Research Report:Robust capital cost optimization of generation and multitimescale storage requirements for a 100% renewable Australian electricity grid
Related Links
The University of Adelaide
Powering The World in the 21st Century at Energy-Daily.com
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