Renewable Revolution or Risky Gamble? Australia’s Bold Energy Transition Plan

Edge Utilities_Energy Transition Plan

The Australian Federal Government, led by Chris Bowen, has announced a bold move to support renewable energy, the energy transition plan will add an extra 550 megawatts (MW) of firming generation in New South Wales (NSW). This strategy aims to ensure grid reliability and security and attract nearly AUD 10 billion in investment, thereby contributing to an estimated 6 gigawatts (GW) of additional power. The energy transition plan is designed to offset the projected power shortages following the anticipated shutdown of various fossil fuel generators across the National Electricity Market (NEM).

Despite the optimism, there are challenges. It remains uncertain whether the proposed measures, largely based on large-scale battery and pumped hydro storage, can compensate for the power shortage following the phasing out of fossil fuel generators. Further concerns have been raised following the delays to the Snowy 2.0 project, with doubts about the NEM’s ability to maintain a stable electricity supply and prevent a spike in power prices. The reliability of renewable energy during periods of calm weather and low sunshine is also under scrutiny.

These uncertainties lead to an important question: will this ambitious plan become a successful blueprint for the future, or a cautionary tale of overambitious planning and under-delivery? The outcomes will have significant implications for the future of renewable energy, not just in Australia, but globally. As Australia embarks on this renewable energy journey, the world watches closely.

This is a summary article from Edge2020 – read the original article.

The team Edge Utilities are passionate about renewables and sustainability, we are energy brokers with an eye on the planet. We are committed to helping councils and business communities reach their net zero goals through renewable power purchasing agreements (PPAs) and smart portfolio management.
To discuss options and plans for your community contact us at save@edgeutilities.com.au  or call us on 1800 334 336 to discuss. 

Is It Time for Australia to Bring Renewable Energy Manufacturing Home?

Edge Utilities_Renewable Energy_Wind Turbines

Australia’s renewable energy sector is facing a litany of challenges, with a number of recent wind project delays marking just the tip of the iceberg. The halt in investment for the Karara Wind Farm, due to delays in turbine parts and escalating costs, highlights a broader problem. Queensland’s ambitions of generating 50 per cent of new renewable energy within the state now hang in the balance, a setback that underlines the pressing need for an overhaul in our approach to green energy.

As the Conference of Parties (COP 28) approaches in November, and with Australia seemingly off-course to meet its 2030 climate targets, international pressure is increasing. Engie Australia’s CEO, Rik De Buyserie, suggests that to even approach the 2030 climate targets, Australia would need 10,000km of new transmission, 44GW of new renewables, and 15GW of firming capacity.

Key figures in the industry, such as Markus Brokhof, COO of AGL, and De Buyserie have been vocal about the urgency of the situation. They argue that the current investment in renewable electricity is woefully inadequate to compensate for the looming closure of coal generation. Brokhof posits that it might be time for Australia to not just invest more, but to also bring the manufacturing of renewable energy components home.

The notion of upskilling our workforce and developing our own green manufacturing industry is a compelling one. With the logistical challenges of imports, scarcity of components, and rising costs, it may be the most feasible path towards our 2030 climate targets. Thus, echoing the sentiment of the famous 1996 football anthem, it might indeed be time to bring renewable energy ‘home’, transitioning Australia towards a self-reliant, green energy future.

This is a summary article from Edge2020 – read the original article.

The team Edge Utilities are passionate about renewables and sustainability, we are energy brokers with an eye on the planet. We are committed to helping councils and business communities reach their net zero goals through renewable power purchasing agreements (PPAs) and smart portfolio management.
To discuss options and plans for your community contact us at save@edgeutilities.com.au  or call us on 1800 334 336 to discuss. 

Is your business ready to be part of the Brisbane Olympics 2032?

Brisbane Olympics 2032 Precinct

Brisbane 2032 International Olympic Committee (IOC) have called for businesses to be “Brisbane Olympics 2032 Ready” but what does this mean for your Business Energy?

As we countdown to the Brisbane 2032 Olympics, action towards creating Australia’s first net zero carbon region has commenced with the launch of the Brisbane 2033: Legacy Project. This project outlines a policy and framework of SMART goals across the key themes of Connected, Creative, Equitable and Enterprising with the goal to achieve a Climate Positive Games and positive legacy for the region.

“In 2032, the eyes of millions of people will be in our homes, what do we want them to see?” John Coates AC, President of Australian Olympic Committee.

The Queensland Government has indicated that all business intending to be a part of the Brisbane Olympics 2032 will be required to meet the net zero carbon goals and the Games’ procurement rules on zero emissions and zero waste.

So how can you become Brisbane 2032 Olympics Ready and be a part of Australia’s first net zero carbon region?

Our team of energy experts at Edge Utilities have outlined three key ways below.

3 ways to show your business’s commitment to a Climate Positive Games with Edge Utilities.

 

  1. Reduce your carbon emissions.

Taking action to reduce carbon emissions is a crucial step in preparing for the Brisbane 2032 Olympics. There are various effective approaches to achieve this goal. These include conducting equipment assessments, upgrading to energy-saving infrastructure, implementing solar panels, integrating smart technology, and adopting energy-efficient lighting solutions.

By implementing these strategies, businesses can make significant strides towards Brisbane 2032 Olympics readiness while actively contributing to a sustainable future.

  1. Purchase green energy.

Simply purchasing green energy is another great way to show your Climate Positive commitment to the Brisbane 2032 Olympics. Edge Utilities can work with you to secure cost effective energy procurement from renewable resources, such as solar, wind and hydro. We do the administrative work for you, ensuring reliable secure energy for your business whilst, managing cost and reducing your emissions through green purchasing.

As part of our comprehensive services, we can guide your business in exploring energy procurement and generation options, including energy carbon offsets, enabling you to make informed decisions towards sustainable and low-carbon operations. We are deeply committed with renewable energy, which play a critical role in preparing for a Climate Positive Olympics.

One of our key offerings is the facilitation of Power Purchase Agreements PPAs powered by Edge2020. Power Purchase Agreements allow businesses to procure energy from renewable sources such as solar, wind, and hydropower at fixed, predictable costs. This approach is particularly advantageous for small to medium-sized businesses, providing a cost-effective path to lower carbon emissions and fostering growth within the renewable energy sector.

Learn more about Power Purchase Agreements.

  1. Join a renewable energy portfolio.

A renewable energy portfolio can open a wealth of opportunities for your business and goes beyond simply securing renewable power. By joining a power portfolio, you will benefit from the power of bulk purchasing, yielding cost advantages not usually accessible to individual businesses and mitigating price fluctuations. Edge Utilities offers individual businesses the opportunity to apply for a renewable energy portfolio through our Edge Utilities Power Portfolio (EUPP).

When businesses join the Edge Utilities Power Portfolio, they gain access to the kind of purchasing power that is typically only available to larger portfolios. This opens the door to custom-made electricity contracts, providing an essential tool for businesses aiming to achieve net zero emissions. Edge Utilities Power Portfolio serves to remove obstacles for Australian businesses, making the goal of 100% renewable electricity within their contracts a more achievable reality. This not only supports environmental initiatives but also echoes the sustainable business strategies akin to the values championed by global events like the Brisbane 2032 Olympics.

Discover more about the Edge Utilities Power Portfolio.

Edge Utilities has a climate active registered consultant, and it’s powered by Edge2020. Gain access to tailored energy solutions, green energy experts, risk management and emission reduction strategies designed to secure your energy procurement, mitigate fluctuating energy prices, and go for green and gold!

 

Connect with us today.

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South West Renewable Energy Zone: A Step Towards a Greener Future in New South Wales

Street lights on road at night

The NSW government recently released their draft declaration for the South West Renewable Energy Zone (SW REZ) access scheme to the public as part of the NSW government’s Electricity Infrastructure Roadmap.

The government is paying particular attention to the number of projects that will be granted transmission in the zone looking to generate investment.

REZs are designed to coordinate the connection of new renewable energy projects to the electricity grid within a specific area. The NSW government hopes these zones will attract investment for renewable energy projects, thereby reducing greenhouse gas emissions and providing clean, sustainable energy.

The South West REZ is anticipated to have a transfer capacity of 2.5 gigawatts (GW) and will connect to the existing electricity network via the Dinawan Substation. Due to its location, this zone will primarily focus on solar and wind energy projects, as offshore wind and extensive hydrogen investment opportunities are not as viable.

Several upgrades to the electricity network are planned to support these new projects, including the Project Energy Connect (PEC) interconnector, the HumeLink, and the proposed Victoria-NSW interconnector (VNI West). These enhancements aim to entice investors to fund renewable energy projects in the South West REZ.

To participate in this REZ, companies must meet specific requirements and adhere to the government’s guidelines. They need to demonstrate project feasibility, compliance with certain standards, and the ability to manage potential disruptions to the electricity system. Upon meeting these criteria, they will be granted access to the REZ and the benefits it offers, such as a stable and well-funded electricity network.

Public consultation for the South West Renewable Energy Zone (SW REZ) access scheme will conclude on May 15th, marking another step towards a greener future in New South Wales.

This is a summary article from Edge2020 – read the original article.

The team Edge Utilities are passionate about renewables and sustainability, we are energy brokers with an eye on the planet. We are committed to helping councils and business communities reach their net zero goals through renewable power purchasing agreements (PPAs) and smart portfolio management.
To discuss options and plans for your community contact us at save@edgeutilities.com.au  or call us on 1800 334 336 to discuss. 

Renewable energy storage roadmap released

Edge Utilities Brisbane City

The CSIRO’s Renewable Energy Storage Roadmap underlines the importance of energy storage in Australia’s journey to net zero emissions.

Despite leading in solar power generation and reducing emissions, Australia requires a significant increase in storage capacity to maintain affordable and reliable energy.

Storage is vital to integrating renewables into the grid and reducing coal and gas-fired generation dependency. A combination of various storage technologies, such as electrochemical, mechanical, chemical, and thermal storage, is needed to meet the evolving demands of the National Electricity Market (NEM).

Increasingly, dispatchable generation must come online as coal-fired generation retires between 2023 and 2035. The CSIRO report calls for accelerated development timelines for projects by 2030. Faster development or alternative storage technologies are needed, as pumped hydro typically takes ten years to develop.

CSIRO’s chief executive emphasises the need for a “massive increase” in storage capacity, estimating an additional 11 to 14 gigawatts by 2030. As a result, the focus should shift to storage as the deadline approaches, exploring repurposing old mine pits and retiring thermal power stations.

This is a summary article from Edge2020 – read the original article.

The team Edge Utilities are passionate about renewables and sustainability, we are energy brokers with an eye on the planet. We are committed to helping councils and business communities reach their net zero goals through renewable power purchasing agreements (PPAs) and smart portfolio management.
To discuss options and plans for your community contact us at save@edgeutilities.com.au  or call us on 1800 334 336 to discuss. 

What shade of green is your business?

  • Do you use a re-usable bag when you shop?
  • Do you recycle at home and work?
  • Do you conserve water where you can?
  • Do you turn off you lights when they aren’t being used?
  • Do you try and avoid single use plastics?

These are choices we all naturally make every day, and all contribute towards a healthier planet. So, why would you not incorporate this concept into your business behaviour?

Of course, it is more complex for a business, especially larger energy users such as hotels, supermarkets, manufacturers, data centres, cold storage warehouses etc.  where large amounts of energy are required, but that doesn’t mean it has to be avoided.

Here we have tried to pull back the curtain and show you how Edge Utilities can easily assist in helping your company achieve their climate goals. This will not only allow you to future-proof your organisation but assist in ensuring your employees to feel like they work for a purpose driven company.

Now, if you investigate net-zero and what it means, a minefield opens

Do you include Scope 1? (direct emissions from company activity) and Scope 2 emissions? (indirect emissions from the power you purchase to use).  Scope 3 is an option. What is a scope 3 emission? It’s indirect emmissions that occur in your value chain, but are not controlled by you.

What are your company’s abilities to be green? Would you like a project linked – Power Purchasing Agreement (PPA) or Carbon Offsetting? Does Green Power suit you more than a solar panel?

Corporate Emission Reduction Transparency (CERT)

With the Government’s Corporate Emission Reduction Transparency (CERT) report asking companies to describe how they will set and meet their targets, the UN are placing more pressure on companies to set and meet ambitious targets. Stakeholders and customers are increasingly demanding a green pledge from companies they use. So,  the time to act is now, but where do you start?

It doesn’t have to be this hard!

Let’s start at the beginning

What is Net Zero? Well don’t panic it isn’t eliminating all emissions. We are not trying to be moved back to cave men with stone tools and no internet (Hear the hooray from all 14 year-olds!).

Net Zero’s aim is to ensure any human-produced Carbon Dioxide (and other gasses such as Methane) are removed from the atmosphere, either by technological advances, reducing emissions or planting trees (they are pretty good at taking the CO2 out of the air and replacing it with oxygen, and I think we can all agree oxygen is a pretty handy gas to have about!)

So, what do you do as a company to get there?

Well first you define your emissions and boundaries. Not to put words in your mouth but with NGERs (National Greenhouse and Energy Reporting Scheme) reporting the answer for most companies we be “Well to Gate”(WtG)*. It also means you have your Scope 1, 2 and 3 emissions all easily accessible.

If you don’t have an NGERs report, you can set your own by using something like the WWF Ecological Footprint calculator. Alternatively, you can ask a Carbon Neutrality advisor such as Edge with an in-house Climate Active© Registered Consultant to define your carbon footprint.

So now you know your emissions to reduce. The big question then is, which is where we can end up in a quagmire: How green is your green?

Carbon credits

Some companies are happy to carbon offset their emissions using certificates bought from the wider market or a specific project. This can be through projects right here in Australia which create Australian Carbon Credit Units (ACCU’s) or abroad through other schemes. If you are offsetting 100 per cent of all your Greenhouse Gasses as a company, you can advertise you are 100% Carbon Neutral and have achieved Net Zero.

These certificates can usually only (currently) be bought on the open market for the current year. Therefore, Edge can assist in pairing you with a project and certificates for the length of your commitment.

What if this doesn’t sound like you though – What if you want your scope 2, or electricity usage, to come from another source, not be classified as carbon neutral . What if you wish for up to 100% of your electricity usage to be renewable green, using renewable electricity. You will still meet your ‘net zero’ target but you are classifying your electricity slightly differently.

Renewable Green

Well, have you ever driven past an Ikea or Bunning’s and seen the Solar on the roof? Some of these solar panel’s feed into the Governments GreenPower scheme where you can buy electricity which has come from a government accredited GreenPower source. If more than 10% of your electricity is from GreenPower you can utilise the GreenPower logo and marketing materials for your business to meet your social licence marketing materials.

Certificates aren’t your only option, however.

We can explore options to help your company offset its emissions by purchasing renewable energy credits or by investing in a wind or solar farm. One approach is to buy enough offtake from a renewable generator to ensure that all your company’s emissions are covered.

By doing this, your company can demonstrate its commitment to reducing its carbon footprint.  This can be a positive message as it shows that your company is taking concrete steps towards a more sustainable future. Imagine your CEO on a press release next to a Solar Panel – ok not that glamorous – but effective!

Wind and Solar are often touted as the main sources of green renewable electricity, but we have a vast number of options here in Australia, including Hydropower from both rivers and dams as well as an increasing number of Battery projects, Victoria is leading the way with 48% of current battery capacity but the rest of the east coast is hot on its heels, and Victoria will not hold this share for long.

Green generation

A final option is to install your own generation and use this for some of your usage. It can also be used for you to show you are physically investing in your company’s net zero pledge.

However, you want to get there, whichever green shade suits your business, we can help.

Edge will review your business’ requirements; all we need from you is a yes and we can help define the rest and paint your business with the right shade of green for you.

It really isn’t that hard. Pull back the curtain and join us. https://edgeutilities.com.au/edge-utilities-power-portfolio/ or contact Laura on 1800 334 336.

* Well-to-Gate (WtG) is a term used in the life cycle assessment (LCA) of a product or service to describe the environmental impacts associated with the production process up to the point where the product or service leaves the factory gate or production site.

NSW progress in a bid to replace their last 5 coal-fired generators

NSW Waratah

AEMO Services recently conducted its first round of tenders for Long-Term Energy Service Agreements and Renewable Energy Zone Access Rights to support the transition to renewables in NSW. 16 projects were shortlisted, totaling 4.3 GW of generation and storage in its first auction.

To enable the transition from coal to renewables, investment in NSW is likely to be over $32B to allow renewables to fill the gap as the last 5 coal fired generators in the state retire over the next 10 years. AEMO Services will be running two auctions per year until 2030 to source a total of 14 GW. The next auction is likely in July 2023.

Replacing the last five coal generators with renewables and storage should lead to lower energy prices in the long run because:

  1. Renewable energy sources are plentiful in Australia, which should eventually lead to price stability and security of supply.
  2. The use of renewable energy reduces our dependence on fossil fuels, which are subject to price fluctuations and geopolitical tensions.
  3. The deployment of energy storage technologies such as batteries can help aggregate renewable energy sources better, making it easier to mix them to meet NSW’s energy needs.

The 16 selected projects will have to submit their financial bids to AEMO Services by 10th February, with unsuccessful projects able to resubmit in future rounds.

We are looking forward to seeing more projects reach financial close to bring more renewable energy to the grid as this will enable our Edge Utilities Power Portfolio to access renewables at more competitive prices for our customers.

If you would like a strategy to ensure your company procures energy to support sustainability and growth in renewables, please reach out to discuss your options.  To save on electricity spend, you can also join our Edge Utilities Power Portfolio, read more: https://edgeutilities.com.au/edge-utilities-power-portfolio/ or call us on: 1800 334 336 to discuss.  

Sun Cable and the Battle of the Billionaires

Singapore lit up at night

Previously, Edge has discussed the electricity markets’ move away from coal and gas to renewable energy and firming technologies. Last week it was announced that the Australia-Asia PowerLink project (AAPP) better known as SunCable had gone into voluntary administration.

SunCable was planned to be the world’s biggest solar and battery storage project and was backed by some of the largest renewable energy developers in Australia, namely Mike Cannon-Brookes from Grok Ventures and Squadron Energy’s Andrew Forrest.

It appears from the outside the decision to wind up the company was due to a lack of alignment of the companies’ objectives by the shareholders but is there more to the story. SunCable was to provide renewable energy generated in Australia and transport it via a 4,200km underseas cable to Singapore. Powering the project would be a huge solar farm near Elliott in the Northern Territory with the first part of the project planned to start construction next year. The 20GW Elliott solar farm would be firmed with a 42GWh battery.

Following the announcement of SunCable going into administration the federal government remains positive on the future prospect of SunCable. Are two billionaires too much for a business like this? Will one of them retain control of the company?

Feedback from Minister Bowen suggests following discussions with senior individuals at SunCable, there are no plans to stop moving forward with the project.

Minister Bowen said “It’s a change of approach and corporate structure, but of course in that regard that is entirely a matter for them”. Following a restructuring process, it looks like AAPP will still go ahead but most likely led by only one billionaire.

If you would like a strategy to ensure your company procures energy to support sustainability and growth in renewables  please reach out to discuss your options.  To save on electricity spend, you can also join our Edge Utilities Power Portfolio, read more: https://edgeutilities.com.au/edge-utilities-power-portfolio/ or call us on: 1800 334 336 to discuss.   

Coal and gas move to renewables and storage

renewables and battery storage

With Enel X announcing the installation of battery storage systems in shopping centres in Melbourne and on the NSW central coast, this year may see a shift in the energy market as we transition from coal and gas to renewables and storage.

AEMO has for many years been looking at a fundamental shift in generation, transmission and energy usage. AEMO is now focusing on firming electricity, electric vehicles and the regulatory framework to enable these changes to occur.

Key federal policies have underpinned the need to progress an increase in renewable energy. Growth in renewable energy is dependent on the growth of storage to be fully utilised and the need for greater transmission infrastructure is required to link the projects to the end users.

In recent years we regularly saw that the NEM had the potential to operate with very high levels of renewables, but the limiting factor still remained that thermal generation provided the firming, reliability and system security when the wind was not blowing or the sun is not shining. At the end of December, South Australia produced 104% of its demand with renewable energy and exported the extra electricity to the neighbouring region.

AEMO reports show there is currently 21GW of new projects undergoing connection assessment and they expect 5GW of new capacity to be added during FY2023 adding to the 4GW currently operating.

To assist this influx in renewable generation ARENA granted $176m in December 2022 to fast track 8 new battery projects bring in 2.0GW/4.2GWh of storage. The plan is to triple the battery storage across the NEM by 2025.

Over the next year we will also see more transmission lines connecting the nation as more renewable energy zones are connected to the load centres under the Rewiring the Nation policy. The first transmission projects to receive Rewiring the Nation funding were announced following the October 2022 Federal budget. Recently funded projects include the VNI NSW-Victoria interconnect, Marinus Link and various NSW transmission projects connecting the renewable energy zones. This funding will assist in building the transmission lines over the next 10 years.

If you would like a strategy to ensure your company procures energy to support sustainability and growth in renewables  please reach out to discuss your options.  To save on electricity spend, you can also join our Edge Utilities Power Portfolio, read more: https://edgeutilities.com.au/edge-utilities-power-portfolio/ or call us on: 1800 334 336 to discuss.  

Market operator develops road to renewables

Just a week after reporting on a slowing of renewable energy projects to an all-time low, this week the Australia Energy Market Operator (AEMO) has published the engineering roadmap that is required to get the NEM to 100% renewables. While the roadmap doesn’t guarantee the NEM will be powered by renewables 24 hours a day all year round, the roadmap is designed to allow the NEM to be powered by renewables for hours or days at a time.

The roadmap to 100% renewables raises new challenges including the variability of output from wind and solar generation and the change required to these technologies to work with a system designed for one-way electricity flow from large synchronous generators to firm the transition away from coal-fired generators.

For years the market has seen the potential for high levels of renewables to cause system problems, this is due to the variability of output causing large swings in spot prices and lower system strength leading to a less stable network.

South Australia is a world leader in renewable energy generation, and in order to maintain system security they use synchronous condensers which maintain inertia and in doing so improves system strength, allowing for higher levels of wind and solar to operate. The transition may require more synchronous condensers to maintain system security, however newer installations are integrating these technologies to provide a similar service which may mitigate the demand.

In addition, high levels of renewable energy puts pressure on coal generators. Forcing coal-fired generators to run at minimum load while they wait for anticipated higher prices over the evening and into the night. However, the longer the spot price remains lower during the day, coal-fired generators will need higher evening spot prices to break even. At some point, the economics will not add up, and the coal-fired units will be mothballed or permanently retired. The shutting down of coal-fired generators will require large amounts of storage for countries to achieve their renewable energy targets of 83% by 2030.

While coal-fired generation is the big loser in the new world, 100% renewables combined with storage will put a lower reliance on gas-fired generation for firming or covering the peak electricity needs during the day.

If you would like a strategy to ensure your company procures energy to support sustainability and growth in renewables  please reach out to discuss your options.  To save on electricity spend, you can also join our Edge Utilities Power Portfolio, read more: https://edgeutilities.com.au/edge-utilities-power-portfolio/ or call us on: 1800 334 336 to discuss.