Rewiring Australia has endorsed the NSW Government’s commitment of $1.8 billion to improve energy security in NSW by accelerating renewable energy and electrification.
The $1 billion allocation to establish an Energy Security Corporation will allow funding to electrification of households and their communities, with community batteries and virtual power plants made up of tens of thousands of household solar systems. A virtual power plant allows households with rooftop solar and batteries to sell excess energy back into the grid at times of high demand, giving them a better return on their energy.
Community batteries are critical to the clean energy transition allowing people in suburbs and towns to store and trade energy locally which can help NSW retire coal power stations earlier, while transmission and large scale renewable energy projects are planned and built.
“Renewable-backed electrification is the fastest, most cost effective way to free us from the grip of fossil fuel bills and emissions,” Rewiring Australia Executive Director Dan Cass said. “The faster we move now, the sooner we permanently lower household energy bills and the sooner Australia can close coal power stations.”
Australia emits more coal power emissions per capita of all G20 countries, and faster coal retirements are vital for Australia to meet its climate and renewable energy targets for 2030.
“The NSW Government is shifting energy transition policy from a narrow focus on large scale clean energy to open it up to the efficient mix of both large scale and small scale, rooftop solar. The technology to allow this shift is virtual power plants. Our energy system is still governed by rules that were drafted last century that favour big fossil fuel energy companies. This is a good first step in empowering consumers to sell their own clean energy back into the grid at a more competitive price.
“Community batteries are absolutely critical to the transition. They allow people in suburbs and towns to pool and share the clean energy they harvest, delivering significant economic benefits while taking pressure off large scale transmission.
“Rewiring Australia endorses this announcement. This is a strong step in the right direction.”
Contact: Nick Lucchinelli 0422229032