Cost reductions for renewables may stall in Australia -report
According to the GenCost report, which is published yearly by CSIRO and the Australian Energy Market Operator , renewables are still the cheapest new-build electricity generation option — anywhere from 50% to 90%. However, it is uncertain how much longer this affordability will last.The document considers a range of future scenarios to understand the mix of technologies that may be adopted and the costs for each of these possible pathways.
CSIRO’s data show that solar and wind power are beginning to require additional investments in storage and transmission, particularly once variable renewables reach ~50% share of generation. Storage, in the form of batteries The report points out that once the current inflationary cycle ends, solar, wind, and batteries are all projected to keep getting cheaper.
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