Battery storage will be supported in thousands of homes across the ACT by funding secured through the government’s latest renewable energy auction.
Opening today, the auction for 109MW of renewable energy feed-in tariff capacity will also complete the territory’s investment to meet its commitment of supplying 90 per cent of its electricity needs from renewable sources by 2020.
The auction will be open to proposals from both wind and solar generators. With new technologies on the move, consideration will also be given to expanding the definition of eligible generators, possibly expanding the types of technology able to be used in the project.
“This auction will build on the success of previous auctions, but successful bidders will also provide an additional cash injection to establish a photovoltaic battery storage program in the ACT,” Minister for the Environment and Climate Change Simon Corbell said.
“We expect up to $25 million to be available to support about 36MW of battery storage to be rolled out in more than 5000 Canberra homes and businesses over the next four years.T his will represent the largest deployment outside of Germany.
“PV-battery storage will revolutionise the renewable energy sector by storing renewable energy so it is on demand exactly when we need it, reducing the need for network investment. It means households can capture the maximum value of the energy they are producing and I am excited that the ACT is once again at the forefront of investment and innovation in this sector.”
As part of this auction process the government has included additional criteria that require proponents to provide funding for the battery storage program. Proponents in this process will be required to make a financial contribution upon deed signing, financial close and a year after financial close to support ACT distributed storage projects.
The rollout of battery storage will build on the Next Generation Energy Storage Pilot, which opened in late 2015.
Storage capacity auctions will be held over the next four years to capture expected ongoing price reductions and technology improvements.
The request for proposals opens today and closes on May 13. An industry briefing will be held in early April.