Long Duration Energy Storage Council Expands Strategic Work in Australia
11 APRIL 2023 – BRUSSELS – The Long Duration Energy Storage Council (“LDES Council”), a global non-profit organization dedicated to driving the decarbonization of our world through the acceleration of long duration energy storage (LDES), today announced four key priorities for the Australian market to ensure long duration energy storage is effectively deployed.
LDES Council members and strategic stakeholders representing the energy industry met for a strategic roundtable in early March to discuss the critical role of LDES in realizing Prime Minister Anthony Albanese’s vision of propelling Australia into a “renewable energy superpower.” The participants of the roundtable discussed what is required in Australia to accelerate the deployment of LDES, which has the global capacity to reach 8 TW by 2040 and generate U$540 billion of system savings.
Participants included LDES Council member companies - 1414 Degrees, Alfa Laval, CellCube, ESS, Hydrostor, MGA Thermal, Quinbrook, Redflow, South32, Rio Tinto, TORC Clean Energy - and partner organizations - the Australian Renewable Energy Agency (ARENA), Clean Energy Council (CEC), Clean Energy Finance Corporation (CEFC), North Harbour Clean Energy, Murdoch University, Transgrid, and Victoria Energy Policy Centre.
“The clean energy transition is not possible without long duration energy storage,” said LDES Council CEO Julia Souder. “We know LDES provides a critical component of an optimized energy system. In order to create a flexible, secure, scalable, and affordable clean energy option, LDES is needed to decarbonize and ensure energy security and efficiency, working in tandem with renewable energy sources like wind and solar.”
Souder continued, “Australia is uniquely positioned to lead in long duration energy storage deployments, among its hydropower, mining and underground storage, and solar+storage projects. With Australia hosting the next International Renewable Energy Conference in 2024, the time is now to get more LDES projects underway.”
A recent report by Australia’s science agency CSIRO points to a need for a 10-fold increase in all types of energy storage by 2050, to include long duration energy storage electrochemical, chemical, mechanical, and thermal technologies. Last month, the Australian Energy Market Operator (AEMO) stated that long duration energy storage is urgently needed.
Australia’s clean energy transformation is only possible with the expedient deployment of a mix of LDES technologies, leveraging different technology durations and types for different applications. The LDES Council points to the following key priorities for Australia for the effective deployment of LDES:
Policy - There is need for greater predictability and timeliness in government approvals to expedite project execution and to provide more certainty to capital providers. This ranges from grid planning improvement (inclusive and long-term that acknowledges the dispatchability and flexibility of LDES) and support for permitting reform.
Partnerships - Greater inter-department coordination and strategic partnerships between the private, public and non-profit sectors will help de-risk the energy transition.
International Collaboration - We encourage the Australian government and energy sector to take and apply invaluable lessons from successful use cases, policies, and programs in other countries.
The LDES Council continues to work with our members in Australia and alongside strategic partners to quantify the value of LDES, assist in promoting the commercialization of projects at scale, and support the development of manufacturing capabilities and supply chain structure to allow for more momentum for LDES projects.
About the LDES Council
The LDES Council is a global non-profit with over 60 members in 20 countries. The Council works to accelerate the decarbonization of our world through the acceleration of long-duration energy storage. It provides member-driven, fact-based guidance and research to governments, grid operators and major electricity users on the deployment of long-duration energy storage for society's benefit.
An executive-led organization, the LDES Council spans a wide range of energy storage technologies and includes among its members technology innovators, energy users and investors. The Council publishes findings and reports to encourage the wide adoption of long duration energy storage to replace the use of fossil fuels and accelerate carbon neutrality. Learn more at www.ldescouncil.com.
Larissa Fair, Director of Communications, North America