Federal and state energy ministers have agreed on a new mechanism that can fast-track the development of big batteries and long duration storage as the country seeks to accelerate its switch from coal to renewables.
The ministers met in Brisbane on Thursday to discuss a new mechanism that seeks to reward new zero emission technologies rather than the legacy fossil fuel plants that were seemingly favoured in previous proposals put forward by the Energy Security Board.
The so-called Capacity Investment Scheme (CIS) will provide a national framework to drive what federal energy minister Chris Bowen describes as “new renewable dispatchable capacity” and ensure reliability in Australia’s rapidly changing energy market over the next decade and beyond.
The scheme appears based – as foreshadowed by RenewEconomy on Wednesday – on the NSW renewable infrastructure plan, and will…
Energy ministers agree to fast-track big batteries and long duration storage
