The Victorian Government will invest an additional $20 million to support large-scale energy storage initiatives across the state, with the aim of creating jobs, protecting affordability and maintaining the reliability of the Victorian energy grid. Victorian Premier Daniel Andrews and Minister for Energy and Environment Lily D'Ambrosio made the announcement, which takes the Government’s total investment in energy storage to $25 million, during a tour of Tesla's Melbourne headquarters.
This new funding will support energy storage companies that specialise in technologies including batteries, pumped hydro or solar thermal, partner with network businesses to boost energy storage capacity in Victoria up to 100MW by the end of 2018. The potential of battery storage to combat power outages is not to be underestimated; a 20MW battery could power a town the size of Bendigo or Ballarat for up to four hours during a peak demand period and avoid outages.
Storage of this size is a first for Victoria and will drive innovation in the Victorian electricity sector and modernise the network- meaning more investment and more jobs. Energy storage, micro-grids and internet-enabled technologies, coupled with renewable energy sources, can also be used to better manage energy demand, especially in peak periods. Alongside this investment, the Government is also setting up an Energy Taskforce of Cabinet with the goal of ensuring that Victoria remains one of the most affordable and reliable energy systems in the world. The new cabinet taskforce’s first meeting was held on 14 March 2017.
Expressions of interest for the second round of tenders are being sought by 15 April 2017 and should be sent to firstname.lastname@example.org
For further details visit: www.delwp.vic.gov.au/energy
Quotes attributable to Premier Daniel Andrews
“Victoria will remain a net exporter of energy, but investments like this will ensure our state stays as one of the most reliable energy producers in the world.”
"Our focus is on keeping Victoria's diverse energy system as affordable, resilient and secure as possible, particularly during peak periods and extreme weather events."
Quotes attributable to Minister for Energy, Environment and Climate Change Lily D’Ambrosio
"This investment is about using all the technology available to us to ensure the security and reliability of our energy supply, while creating jobs."
“Given Malcolm Turnbull's new found interest in energy storage initiatives and the fact that Victoria has so far received only 4 per cent of ARENA’s total national funding, we call on Mr Turnbull to match our state's investment in energy storage.”
Source: Victorian Government
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