Battery storage is the missing piece in the renewables puzzle. Countries that are leading the way in green energy are now looking for how to enjoy its benefits all year round.
Excess energy is a problem that countries face when renewable production is high and demand is low. Storing renewable energy means countries can tap into a green energy reserve during times of high demand, instead of resorting to fossil fuels.
Australia is a world leader in green energy. Victoria’s Premier, Daniel Andrews, has recently announced a $157 million renewable energy package with $119 million for 125-megawatt battery storage. Investing in battery storage means Australia can sustainably develop its green energy infrastructure for year-round supply.
At Green Switch Capital, we believe that promoting renewable energy is a global mission. As industry leaders, we look to our neighbours across the world to see how they’re rising to the challenge of transitioning to green energy.
We’re deep diving into Australia’s battery storage investment announcement and what the UK can learn from our friends down below.
What is a Battery Storage System?
A battery energy storage system (BESS) is a device that allows energy produced from renewables, such as wind and solar, to be stored until demand outstretches current production.
This technology plays a vital role in allowing green energy to meet electricity demands 24/7. Investing in battery storage means the UK can transition to a green energy network and not need to rely on fossil fuels to fill the production gap.
Australia’s Landmark Green Energy Investment
Victoria, Australia’s second-smallest state and home to Melbourne, is leading the country’s green energy project. The state’s Premier has announced a target of 2.6 gigawatts of renewable energy storage to be built by 2030 with 6.3 gigawatts targeted for 2035.
This announcement is being welcomed across the industry and will turbocharge the green energy economy. The targets are expected to create almost 13,000 jobs with a $1.7 billion investment.
Victoria’s Premier has predicted that this new battery storage facility could power half the state’s homes with a 5.2-kilowatt peak per household. The 6.3 gigawatts storage target for 2035 could help power 1.2 million of Victoria’s 2.5 million homes.
This battery storage investment includes targets for short and long-term energy storage systems. It combines hydrogen, hydroelectricity, and battery technology to store more than eight hours of energy. The plan is the first in Australia to coordinate public and private investment for storage capacity.
What the UK Can Learn from Australia’s Green Energy Plan
Infrastructure is only as strong as its weakest link. For most countries, it’s how they store excess energy. Every kWh of green energy matters. While countries have raced ahead with solar panel installations, few have kept pace with battery storage.
This technology allows solar and onshore wind farms to store excess energy until it’s needed. It means the local grid can tap into this excess energy, instead of turning to fossil fuels. Feeding back excess solar power to the grid when required will allow us to utilise every kWh of green energy.
The battery storage announcement comes after reports showing that Victoria had lowered its carbon emissions to 30% below its 2005 levels in 2020. It smashes the Australian state’s target of a 15 to 20% reduction. These results prove that investments and support for a green economy can deliver revolutionary results.
The reality of this success is that Victoria has announced an acceleration of its zero-coal transition. It’s a similar picture to what’s happening in the UK with the government committed to phasing out coal power completely by 2024.
Victoria’s success in smashing its carbon emissions target shows that investing in battery storage can enable the UK to achieve the same results.
Why The UK Needs to Invest in Battery Storage
Scaling the UK’s battery storage capacity is vital for achieving our mission of a sustainable, self-sufficient energy market in the UK. Investing in battery storage facilities will make the grid and green energy more reliable to speed up the transition from coal and fossil fuels.
The only way the UK can deliver on its landmark targets is by having the battery storage to make the National Grid reliable. Energy storage is one of the crucial pieces of the UK’s net zero strategy that has so far been underutilised.
Investing in energy storage means that green energy can gain the reliability that it needs to be available on demand. It creates a balance between high production winds for solar power and times when demand is higher than green energy being simultaneously produced.
Solar energy experiences a ‘duck curve’ where its usage peaks in the morning before the sun is out, dips in the afternoon when the sun is at its highest, and peaks again when it gets dark. Battery storage facilities allow the excess energy produced during the afternoon to be utilised in the early morning and evening.
Most battery storage facilities are being installed near solar and onshore wind farms to reduce their carbon footprint and act as backup power sources. These battery storage facilities are typically compact with most designed to fit inside a shipping container including its operating software and cooling systems.
Building battery storage systems can also extend the lifespan of renewable energy infrastructure and relieve congestion in the grid. It’s a win-win that will future-proof an updated National Grid powered by green energy.
Creating a Sustainable, Self-Sufficient Energy Market
At Green Switch Capital, we believe battery storage systems are the mission piece in the green energy puzzle. While solar farms are being rolled out at a rapid pace, we need to invest in battery storage facilities to allow them to deliver their full potential.
We’re working with hundreds of landowners across the UK to transform disused land into solar and onshore farms, along with battery storage facilities. Our programme allows farms and landowners to earn a guaranteed passive income for up to 40 years.
You can benefit from a predictable income and lower your energy bills by accessing renewable energy to lower your carbon footprint. You can become part of the journey to a sustainable future by contacting our team today.