ABSTRACT (Australian Energy Regulator, 2017)
Australia is at the cross roads where it’s traditional power stations which are fuelled by fossil fuel are coming to an end of their economic lives forcing it to make a conscious decision whether to continue with its reliance on fossil fuel or to change direction to create a new energy mix which includes increased participation of renewable energy sources or technology to address urgent need of maintaining environmental/climate balance.
Constant advancement in research and technology has made technology based on renewable energy more affordable. Power generation through solar PV and wind mills has already proven themselves as a secure, reliable and affordable energy providing sources. These
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It’s because of this National Electricity market (NEM) play an important role in Australia’s growth and development. Throughout the 20th century NEM has powered Australia through its centralised electricity generation (Coal, Gas, Hydro) based model which included large grids and synchronous generators.
But now as we’ve stepped into 21st century our energy supply majority of which was based on coal fired stations is facing new issues. Three quarters of Australia’s old coal fired power generators are operating beyond their original design life. Also, climate issue has become a global issue and needs everyone’s contribution to bring down carbon level.
These issues have forced Australia to look for alternative options and plans for energy production. This transition needs to be a combination of multiple options consisting of both existing and emerging technologies rather than choosing single source/technology which would be able to satisfy our energy demand, address our “Paris COP21” commitment and energy loss from grid due to our current technological