Battery storage proponents despondent about future under National Energy Guarantee
Date: Oct 19, 2017
Some in the fledgling tech-metals mining and processing industry are dismayed that the Federal Government’s new energy policy does not appear to support renewable energy storage such as batteries.
Australian Vanadium chief executive Vincent Algar said the National Energy Guarantee (NEG) unfairly pitted the batteries and renewable energy storage sector against fossil fuel electricity producers such as oil and gas.
“With coal and gas considered a dispatchable energy source under the NEG, what incentive will there be to source dispatchable energy from a battery?” he said.
Dispatchable power can be turned on and off and used immediately as needed.
The NEG will mandate that energy retailers need to buy a certain amount of energy from dispatchable sources, which include coal, gas, and pumped hydroelectricity storage.
Lower cost makes coal and gas more attractive
Mr Algar, whose company will mine and process vanadium, as well as promote vanadium battery technology, believes pure economics dictates that energy retailers will go to the much cheaper coal and gas producers.
“If a company is building a renewable energy project, what incentive will there be for them to put that dispatchable energy in the form of a battery?” he said.
