Coal-fired power generators are expected to shut down nearly three times faster than previously anticipated and will have exited the National Electricity Market entirely by 2043, according to an updated plan from the Australian Energy Market Operator .Coal-fired power generators are forecast to shut down two to three times faster than previously expectedThe AEMO has released the updated plan for the future of the NEM, following widespread consultation with the sector.
Coal-fired power stations contribute about 23 gigawatts of energy to the NEM, with 5GW to be withdrawn by 2030. But the AEMO now expects as much as 14GW of coal-fired power to be withdrawn by 2030 and to have entirely exited the electricity market by 2043. "Over the past decade, coal-fired generators have withdrawn from the market before their announced dates, and competitive and operational pressures will intensify with the ever-increasing penetration of cheap renewable generation," the AEMO's draft 2022 Integrated Systems Plan sets out.Demand for electricity is expected to double between now and 2050 to account for both the growth in demand and the shift away from other sources of energy, such as natural gas and petrol.
"Today the NEM delivers just under 180 terawatt hours [TWh] of electricity to industry and homes per year. The NEM would need to nearly double that by 2050," the draft plan states.The changes needed in the NEM to accommodate the shift from coal-fired power to renewable sources spread more widely around the country are significant, according to AEMO's modelling.
Seem it does not matter what the PM or the NATS want market forces will always win out when something is cheaper to produce. Never known of any business that likes losing money.
Interesting item and not surprising in many ways. But not sure though how domestic solar PV can increase ‘five fold’. Already more than 30% of Aust homes have solar - so can’t see how that can grow to 150%.
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