Wind and solar deliver stunning price, demand and emissions falls in main grid.
The hot topic that has everyone in the Perspektiv office talking this week.
Cheaper and cleaner electricity!
Patrick Ilott, director at Perspektiv, hopes WA follows suit with this ongoing trend after purchasing Perspektiv’s first electric car.
The article below is by Giles Parkinson & Sophie Vorrath, from the Renew Economy.
The ongoing expansion of wind and solar power in Australia’s main grid has delivered stunning price falls in the latest quarter, along with big falls in demand and further reductions in emissions. The absence of any major outages in the summer season meant that the grid was cheaper, cleaner and more reliable.
The latest Quarterly Energy Dynamics report from the Australian Energy Market Operator lists a series of major new milestones, both in the share and reach of wind and solar, but also in the setting of new lows for minimum demand and record low output for black coal generators.
Less than a decade ago, the main concern was the grid’s ability to meet growing levels of peak demand, but now the focus is on dealing with periods of low or even minimum demand, although this is likely to be a transient experience as more storage and demand response is added to the grid.
Average wholesale prices plunged 68 per cent in the quarter, thanks to surprisingly low volatility (which turned out to be bad news for pumped hydro and batteries), the lowest levels of gas generation since 2005 (so much for the gas led recovery), and new records for wind and solar.
These included the highest level of grid-scale VRE (wind and solar) output of 6,886MW at 10am on February 18, and the highest level of grid scale solar at 3,411MW at 10.30am on March 5.
Compared to Q1 2020, average VRE generation increased by 786MW, the report said, with wind and grid-scale solar contributing 472MW and 314MW, respectively, thanks mainly to newly added capacity and ramping up of projects, as well as reduced curtailment in Victoria’s West Murray region.
View the full article here.