Primed to go off grid
HOUSEHOLDS fed up with soaring electricity prices are ripe to go “off the grid”, but a new report shows many don’t know enough about battery storage to make the switch.
A major analysis of energy storage in Australia, to be released today, reveals households and businesses are primed to buy batteries to store their own power, similar to our world-leading take-up of rooftop solar.
But the Australian Council of Learned Academies says governments need to educate people about the benefits of storage technology, with its poll of more than 1000 consumers showing 38 per cent felt they did not know enough to invest in their own batteries.
The ACOLA report, produced with the chief scientist, says Australia is well positioned to become a global export leader in battery technology, with an abundance of raw materials and storage expertise.
It predicts the nation will also have to spend $11 billion on batteries by 2030 if renewable energy is supplying half our power, to ensure reliable supply.
Energy ministers will meet on Friday to debate the Turn- bull Government’s National Energy Guarantee amid revelations Victorians face $470 price hikes next year.
Focus groups and polling conducted by ACOLA found consumers who could afford the upfront costs of battery storage were likely to make the switch to avoid rising bills.
But households would first need policy certainty to figure out how much they could save with their own storage solution, and to be satisfied safety standards for batteries were in place.
“This report clearly shows the two sides of the coin — that energy storage is an enormous opportunity for Australia but there is work to be done to build consumer confidence,” ACOLA’s Dr Bruce Godfrey said.
The report argued storage technology was crucial to the reliability of a more renewable-reliant energy system, finding adequate storage in South Australia would likely have prevented last year’s hor- ror blackout. Pumped hydro is currently the cheapest storage method but batteries are expected to become more costeffective in the years to come.
Chief scientist Dr Alan Finkel said energy storage could be “a major new export industry for our nation”. “Energy storage is an opportunity to capitalise on our research strengths, culture of innovation and abundant natural resources,” Dr Finkel said.