$5B SOLAR FLARE
5000MW, 3200 jobs in renewables pipeline
A SOLAR- POWERED jobs and energy boom is under way.
North Queensland will see $ 5 billion invested in renewable energy projects generating 5000 megawatts of power and 3200 jobs.
Speaking at the Power North Queensland Summit in Townsville yesterday, Australian Solar Council and Battery Storage Council CEO John Grimes said there were 31 largescale solar projects currently under way or had reached or were close to financial close in Queensland and most were in North Queensland.
He added there were another four wind projects with solar and battery storage and one pumped hydro project.
“I call this the silent investment boom ( because) it’s a boom that has crept up on us,” Mr Grimes said.
“It really only kicked in from about February through June when all these projects started to come through.”
NORTH Queensland is set for a $ 5 billion windfall in renewable energy projects creating more than 5000 megawatts of generation and 3200 jobs, a summit has been told.
Australian Solar Council and Battery Storage Council CEO John Grimes provided the figures at the Power North Queensland Summit yesterday, where he said the problem was not a lack of affordable power but developing the transmission infrastructure to handle exporting the electricity south.
“We are right now witnessing this transformation,” Mr Grimes said.
“( Someone) was on the radio this morning, saying that North Queensland has an energy problem and that’s why we need to build a new coalfired power station.
“North Queensland does have a problem. That is how we make sure the infrastructure is strong enough to take all of this fantastic renewable energy and send it south across the border.”
Mr Grimes said there were 31 large- scale solar projects either under way or that had reached or were close to financial close in Queensland.
Most of these were in North Queensland.
He said there were another four wind projects with solar and battery storage and one pumped hydro project.
Together, the projects would generate more than 6 gigawatts of power and require capital investment of $ 6.8 billion.
“I call this the silent investment boom ( because) it’s a boom that has crept up on us,” Mr Grimes said.
“It really only kicked in from about February through June when all these projects started to come through.”
Mr Grimes said it was occurring because of economics and policy certainty.
Solar PV had become the cheapest electricity source of generation globally, which, along with wind, were now costing around $ 30 per megawatt hour.
“We are getting to the point where the cost of solar PV is so cheap it’s basically following the cost trajectory for glass. The glass and aluminium frame are the most expensive components,” Mr Grimes said.
“That’s why we are installing half a million solar panels every day around the world and that’s why we are installing two wind turbines every hour around the world. “It’s about economics.” After his address, Mr Grimes was asked about the problem of renewables’ intermittency and the fact they were subsidised with the issuing of renewable energy certificates by the Federal Government.
Mr Grimes said projects no longer required subsidies and the certificates scheme would likely not be renewed from 2020.
He said the addition of pumped hydro storage meant 24- hour solar was “absolutely possible”.
He said the Australian National University had identified 2200 sites for pumped hydro in Queensland.
“If you were to store all of the renewable energy in Australia in these Queensland sites you would be able to store that energy 19 times over,” he said.
I CALL THIS THE SILENT INVESTMENT BOOM ( BECAUSE) IT’S A BOOM THAT HAS CREPT UP ON US JOHN GRIMES