Image: Renew Economy
As you know CSIRO is a co-owner of Evergen and developed the Intelligent Energy Management which helps you save more. They have been working with AEMO on an exciting benchmark study looking at the cost of different energy sources.
The results are in.
These two leading Australian scientific research groups have found that the cost of new wind and solar power sources – even with hours of storage – are unquestionably lower than the cost of new coal generation.
The study – GenCost 2018 – shows that the levelised cost of energy (LCOE) for solar and wind is in fact, far below any other generation source.
While the study mentions that existing fossil fuel generation plans are competitive – as we look to the future of the energy market in Australia, innovation and renewables will be the clear winner.
The study also found that, even when you add two to six hours of battery storage to the cost of generating solar, wind and even pump hydro, the cost is still lower than fossil fuel alternatives.
Even more exciting – lead author and CSIRO economist Paul Graham says that the results found in the study are “conservative” estimates.
We can only imagine the impact that this report will have in contributing to future political discussions on the subject!
Become part of the Intelligent Energy revolution now. Organise a system design for your home today.