{"id":68742,"date":"2022-12-12T05:42:39","date_gmt":"2022-12-11T19:12:39","guid":{"rendered":"https:\/\/www.solarquotes.com.au\/blog\/?p=68742"},"modified":"2024-07-03T14:27:14","modified_gmt":"2024-07-03T04:57:14","slug":"batteries-electricity-prices-silicon-mb2747","status":"publish","type":"post","link":"https:\/\/www.solarquotes.com.au\/blog\/batteries-electricity-prices-silicon-mb2747\/","title":{"rendered":"Big Batteries, Power Price Rise Relief And Australian Solar Silicon"},"content":{"rendered":"

\"Capacity<\/p>\n

Between the Capacity Investment Scheme getting legs, planned actions to rein in electricity price rises and the prospect of a thriving local solar manufacturing industry, there’s been a bit happening on Australia’s energy front the past few days. Here’s a summary.<\/p>\n

Capacity Investment Scheme<\/h2>\n

One of the challenges of renewables is they are intermittent. But the good news is energy storage has been evolving at a cracking pace and renewables backed by storage are the cheapest new-build electricity generation<\/a> option in Australia.<\/p>\n

The Capacity Investment Scheme is about making sure the lights stay on as coal power in Australia is shown the door and renewables ramp up. Basically, the CIS involves a national framework whereby eligible new wind and solar farm projects backed by energy storage will be supported by the Federal Government.<\/p>\n

Under the CIS, an agreed revenue \u2018floor\u2019 will help cover operating costs and debt repayments of eligible projects – and the Federal Government will stump up the difference if\/when revenues fall short. But on the flip side, a share of profits will be returned to the Government whenever revenues exceed an agreed \u2018ceiling\u2019.<\/p>\n

The Albanese Government expects the CIS will unlock around $10 billion of investment via an auction process. You can learn a bit more about the Capacity Investment Scheme here<\/a>.<\/p>\n

The CIS is focused on big projects with big batteries or other forms of energy storage such as pumped-hydro. There has also been a push for the Federal Government to extend Australia’s solar subsidy to include home batteries<\/a> as part of enhancing energy security and putting downward pressure on wholesale electricity prices during peak consumption periods. This idea appears pretty popular among Australian households<\/a>. However, there’s been no indication yet from the powers-that-be it may happen.<\/p>\n

Energy Price Relief Plan<\/h2>\n

Electricity price hikes that were baked-in1<\/a><\/sup> before Labor won the election have been creating pressure on households and businesses since; and more are on the way. In an effort to get rising electricity prices under some sort of control, the Albanese Government unveiled its Energy Price Relief Plan on Friday.<\/p>\n

The major elements:<\/p>\n