Energy Insiders - a RenewEconomy Podcast CSIRO slaps down Coalition nuclear power play
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Dec 9, 2024 Paul Graham, CSIRO's chief energy economist, reveals insights from the latest GenCost report, confirming that integrated renewables remain the most cost-effective energy solution. He discusses the significant drop in solar and battery costs, the rise of long-duration battery technology, and the competitiveness of pumped hydro for energy storage. The conversation dives into the economic challenges of nuclear power, questioning its viability against renewables while emphasizing the importance of community feedback in shaping Australia's energy future.
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Falling Renewable Costs
- Solar PV and battery costs continue to decline, demonstrating the ongoing progress in renewable energy technologies.
- Battery costs decreased by 20% in a single year, while solar PV costs saw another 8% reduction.
Hydrogen-Ready Gas Plants
- New gas-fired power generators in Australia are being built "hydrogen-ready," accommodating hydrogen blending capabilities.
- This reflects a shift towards incorporating hydrogen into the energy mix.
Renewables Remain Cheapest
- Integrated renewables remain the most cost-effective option for Australia's energy future.
- Firming costs, including transmission and storage, are factored into these calculations.