The New South Wales Government has announced it will increase the state’s long-duration energy storage capacity target to 28GWh by 2034 from the previous target of 16GWh.
The government also said it would retain the eight-hour definition of long duration energy storage (LDES) within the Energy Infrastructure Act, after saying it would consider changing its definition of long duration storage from eight hours to four hours to help meet legislated targets.
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New South Wales Energy Minister Penny Sharpe said, “This is a clear signal for investors that NSW is committed to supporting more long-duration storage—and we’re in it for the long haul.”
The news was welcomed by the Clean Energy Council, with policy director—market, investment and grid Christiaan Zuur commenting, “The New South Wales Government’s strong support of long-duration energy storage (LDES) is an encouraging step towards giving industry the certainty needed to back more investment in energy storage. This is crucial to keep the lights on and prices down, as coal exits our energy system.
“LDES technologies support renewables and help lower total system costs, by moving energy through time to when it’s needed most. As more renewables are brought online, this will help to keep consumer prices as low as possible.
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“LDES also help keep the system stable and secure. This helps protects consumers against the risks of black outs. By reducing reliance on gas generation, LDES in turn reduce carbon emissions and help avoid the price shocks that flow from relying on gas.
“This is a sensible policy that demonstrates renewable generation supported by storage is the lowest-cost pathway to a reliable, sustainable and affordable modern electricity system, while also ensuring that New South Wales retains its leading role in supporting the rollout of LDES.”
