Australia’s GenCost 2023-24 draft underscores renewables as the most economical and reliable energy source until 2030.
Renewables’ Cost Efficiency Confirmed
The 2023-24 GenCost report draft emphasizes firmed renewables, including utility-scale solar and onshore wind, as the most cost-effective and reliable energy options in Australia.
Impact on Energy Prices and AEMO’s Support
Rooftop solar’s significant role in reducing energy prices by 71% within a year is highlighted. AEMO’s Integrated System Plan (ISP) aligns, confirming renewables with hydro, batteries, flexible gas, and transmission as the most economical grid.
Government Initiatives and Opposition’s Critique
The Albanese Government’s initiatives for a cleaner grid, including the expanded Capacity Investment Scheme and Rewiring the Nation, are emphasized. The report contrasts this with the opposition’s lack of planning for aging coal plants and a criticized plan to halt renewable and transmission development.
Australia’s energy future appears promising, with the final GenCost report expected in mid-2024.
Source：miragenews.com
