By 2030, Australia could be 100% renewable, but without renewable energy storage when the sun goes down, all that development could be a partially wasted effort.
Renewable energy depends a lot on the weather. If the sun doesn’t shine, solar panels go dead. If the rain doesn’t fall, reservoirs behind hydroelectric dams go low and power dries up. Likewise, if the wind doesn’t blow, the windmills don’t turn. Backup power for power grids developing these renewable energy supplies are traditional power generation, including dirty fossil fuel plants. Renewable energy storage is critical to achieving a 100% renewable power grid.
Chinese electric vehicle manufacturer BYD has noted their overseas neighbor’s increase in solar power installations, and is moving in to help with renewable energy storage, both on grid- and home-scale. Australia is abundant in sunshine and becoming more abundant in solar panel installations. Combined with BYD and Fe Batteries, consumers can save money by saving their renewable energy for the next night or the next week, instead of just letting it go to waste.
Of course, profit is always at the center of it all, but lowered tariffs are making business with Australia cheaper for BYD.