Australia’s changing energy market
Australia’s energy market is rapidly changing. Coal generation is retiring, and new sources of renewable energy like wind and solar are becoming more plentiful. But these new sources are variable, which simply means the wind doesn’t always blow and the sun doesn’t always shine.
This means energy storage will be crucial in the future, to fill the gaps. Pumped hydro can play a critical role as it provides the sort of flexible capacity and storage the energy system needs.
Pumped hydro, wind and solar can work together like a giant renewable energy battery, ensuring energy is reliably available when consumers need it.
And that’s where Tasmania can help!
We can harness the state’s vast renewable energy potential – existing hydropower, new pumped hydro and our unmatched wind resources – to help power the energy system of the future. Further interconnection between Tasmania and Victoria will unlock this potential, to provide energy to the National Electricity Market (NEM) where and when it’s needed.
Battery of the Nation and Marinus Link were recently announced by the CCA as regionally important projects assessed under its Regional Investment Framework. The framework provides a way for people to seek CCA’s help advocating for regionally important projects and allows our region to speak with one voice when it comes to telling government what is important to us.
Want to know more about how Tasmania could play a part in Australia’s energy future? Check out this video put together by Australia’s Renewable Energy Agency (ARENA) about Tasmania’s exciting opportunity.
Have questions about Australia’s National Electricity Market? Find out more from Australia’s energy market operator (AEMO).
Closer to home, the Cradle Coast Authority has prepared the Regional Futures Plan on behalf of its member councils and the broader region. The Futures Plan forms the basis for a collaborative approach to ensuring the region makes the most of the jobs and growth that could come with these potential renewable energy developments.
Tassie energy fast facts
- Tasmania is on track to become 100% self-sufficient in renewables by 2022
- Tasmania now has a new renewable energy target – 200% of current needs by 2040
Tasmania is in the path of the Roaring Forties, winds that blow at consistently high wind speeds and are a fantastic wind resource!