Australia must triple electricity generation and storage capacity by 2050: Report
Canberra, Dec 10
Australia's total electricity generation and storage capacity will need to triple by 2050 in order to keep up with demand, according to a report published by the energy market operator on Wednesday.
The Australian Energy Market Operator on Wednesday released the draft version of the 2026 Integrated System Plan (ISP), projecting that total electricity generation and storage capacity will need to increase from 92 gigawatts (GW) currently to 190 GW by 2035 and 297 GW by 2050.
The ISP, a roadmap for the least-cost and efficient development of the National Electricity Market that is updated every two years, projected that grid-scale wind and solar generation capacity will increase fivefold from 23 GW currently to 120 GW in 2050, reports Xinhua news agency.
In the same time frame, electricity storage capacity, including batteries, virtual power plants and pumped hydro, is projected to increase from 12 GW to 55 GW, and the total generation capacity of distributed solar photovoltaic systems, such as rooftop systems, is expected to increase from 25 GW to 87 GW.
The report said that around 6,000 kilometres of new transmission lines will be needed by 2050, representing about 13.6 per cent extension of the current network.
It estimated the annualised capital cost through 2050 for grid-scale generation, storage, transmission and distribution at 128 billion Australian dollars (about 85 billion US dollars) under the least-cost optimal development path.
Transmission investments of around 9 billion Australian dollars would save consumers an additional 22 billion Australian dollars in avoided costs and deliver emissions reductions valued at 2 billion Australian dollars, the report said.
It is projected that the generation capacity of Australia's fleet of coal-fired power stations will decline from 21 GW currently to 7 GW by 2035 and 0 GW by 2050.
— IANS
Reader Comments
Good to see coal being phased out completely by 2050. We need more aggressive targets like this everywhere. The focus on wind, solar, and storage is the right path. 🇮🇳 Let's hope our own grid upgrades happen as planned too!
Tripling capacity sounds great on paper, but the execution is key. 6000 km of new transmission lines? That's a lot of land and logistics. In India, we face similar challenges with land acquisition for power projects. Hope they've factored in all the real-world delays.
The scale of investment needed is mind-boggling. $128 billion AUD. But if it saves $22 billion and cuts emissions, it's worth it. A lesson for all developed nations. The rooftop solar target is particularly impressive.
While the ambition is commendable, I have a respectful criticism. These long-term plans often look perfect in reports but get diluted by political changes and lobbying. The complete coal phase-out by 2050 is a bold claim. Let's see if the political will lasts for 25+ years.
The fivefold increase in grid-scale wind and solar is the most exciting part! ☀ï¸ðŸ’¨ This is the future. Australia has great potential for renewables. Hope the technology and storage (batteries, pumped hydro) keep pace with the generation growth.
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