It’s no secret the demand of new battery tech is expected to rise within the coming years.
Many forms of battery powered innovations are set to release, such as the increase of electric vehicles and battery powered gardening tools.
With Telsa’s world’s largest battery in South Australia, and the increase in homes with battery storage, Aussies are set to jump aboard this new wave of technology.
In 2017 the household battery market tripled in size, adding thousands of new installations all throughout the country.
Almost 7000 homes added battery storage in 2016 alone.
Climate Councillor, Andrew Stock states, ‘Australia’s renewables and battery storage boom will keep the nation’s power grid fully charged, especially during extreme weather events, such as summer heatwaves.’
Another Climate Councillor, Greg Bourne believes the transition to renewable energy and storage will set to occur sooner rather than later.
Greg believes that ‘the only thing putting this at risk is the Federal Government’s lack of credible climate and energy policy.’
Everybody wants a piece of that battery pie!
However, with the unfortunate occurrence of mining practice concerns and shortages in raw materials for lithium ion batteries, progress has been put to a halt.
One would think solar technology would be the definitive solution to battery replacements.
But with how widespread battery innovation is, it’s only natural people and businesses which would put their faith in battery growth.
Telsa has been working on their innovation since 2015.
Elon Musk himself wants Australia to prepare their power grid for larger batteries.
‘As greater penetrations of utility scale energy storage and aggregated distributed energy resources are rolled out, the benefits [of batteries] to the broader markets should become clear,’ Tesla stated.
A noble cause to say the least, which Australia seems to be on board with.
What are the development solutions?
Battery technology company, RedFlow Ltd [ASX:RFX] has been focusing on developing new innovations of batteries for residential and commercial energy purposes.
The batteries have the ability to support applications, with an easy to use implementation.
Redflow’s ZCell is a unique zinc-bromide flow battery that can provide energy to one’s home or office at all times.
As of late, flow batteries have been receiving quite a lot of positive reputation. They harbour many advantages in safety.
Greentech Media’s 2017 Energy Storage Summit crowdsourced insights results, indicated that hundreds of energy professionals saw 46% of respondents predict that flow battery technology will soon overtake the industry and become the dominant energy source.
Ultrabatteries, which have been around since 1859, are known as the backbone of energy storage. However, their age deters from their usability as the quicker they are discharged, the less energy they are able to supply.
But will these batteries continue to stand the test of time? Or merely be outshined by chargeable alternatives?
iPhone and many other portable devices utilise technology which can be recharged with electricity. Going by Tesla, this form of technology is being bought to another level.
Setting the trend, Tesla has cast light to many other battery manufactories who go green.
Another company Vast Solar, specialises in thermal energy.
Thermal energy utilises the sun as its source of energy and can be highly effective regarding renewable energy functionalities.
Recently thermal energy storage technology has gained attention in Australia. The world’s largest thermal power plant is to be built in port Augusta.
Augusta’s Senator, Nick Xenophan believes the project will transform South Australia’s energy market. He believes it ‘will make a difference in the South Australia energy market. It will secure the grid and mean more baseload power than intermittent power’.
Once operational the station is expected to employ 50 full-time workers.
The federal government confirmed it will peruse a $100 million loan, which will help support the solar thermal project.
Let’s go through the overall approach to all this…
What about Australia’s other states?
Many Australian jurisdictions have a powerful renewable energy target.
They aim to replace the Australian Energy Regulator and Australian Energy Market Commission with new combined energy regulations which favour advancements in renewable energy.
The energy market is constantly changing and will be completely different in the coming years.
Over the next 10–15 years, the Australian energy system and the electricity sector will go through great change.
The Australian solar and energy council consist of over 1,000 members and are focusing on smart energy developments.
Brett from Energy Storage Council stated:
‘Governance arrangements for the National Electricity Market are extraordinarily complex, with a number of non-elected, non-transparent bodies managing the rules of the NEM. These governance arrangements need to be streamlined, with the roles of the Australian Energy Regulator and the Australian Energy Market Commission (as rule maker) combined’
The coming years will see future innovation take effect, such as new gel-based zinc-bromine batteries.
Either way, Australian companies are taking their innovation and pushing it towards new directions.
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