Last week, Australia’s energy ministers made a commitment to reform the National Electricity Objectives (NEO) and commence work on a National Energy Transformation Partnership. Some experts believe this is a step towards a carbon price. We take a look at what a carbon price is, how it works and whether we might see it make a comeback in Australia.
There is a common misconception that Australia will need to match each kW of wind and solar capacity with an equivalent amount of storage. In fact, only a fraction of storage for each kW of variable renewables – between one fifth and one third – will be necessary to meet demand, according to the CSIRO’s annual GenCost report.
Gas prices are forecast to spike at rates up to 50 times the normal price in the coming months, while fuel prices have been consistently on the rise for some time now. Amidst a cold snap on the east coast, Russian sanctions, and outages at ageing coal-fired power stations, a look at how households and industry can electrify seems imperative.
