Energy Insiders - a RenewEconomy Podcast It’s going to be a quick transition, and markets need to change
Sep 3, 2020
Stephen Davey, former CEO of Hydro Tasmania, shares insights on the rapid clean energy transition and the necessary market shifts to support it. He discusses Tasmania's ambitious goal of becoming 200% renewable and the integration of advanced technologies. The conversation dives into the regulatory challenges and the need for improved stakeholder benefits in energy investments. Davey also compares pumped hydro and battery storage solutions, exploring their economic viability and the integration challenges within Tasmania’s energy system.
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Unexpected Winners
- Renewable energy's dominance, particularly wind and solar PV, was unforeseen.
- Decades ago, other technologies like geothermal, focused solar, and carbon capture were considered more likely contenders.
The Need for Deep Storage
- Deep storage is crucial due to the intermittent nature of wind and solar energy.
- It addresses longer periods of low wind or cloudy conditions, ensuring energy reliability beyond daily cycles.
Transmission and Regulatory Hurdles
- Hydro Tasmania needs more transmission to the mainland but cannot fund it alone.
- Existing regulatory tests like the RIT test are inadequate for the rapid pace of the energy transition.