Hydropower / Pumped Hydro Energy StorageProject Battery of the Nation - Future State NEM Analysis Stage 1
Stage 1 analysis of the future energy investment opportunities identified by the Battery of the Nation concept shows Tasmania can make a significant contribution to the transformation of the National Electricity Market (NEM) over the next two decades.
The national market has the opportunity to invest in a combination of more interconnection, wind development and new hydropower assets in Tasmania, offering a future energy solution that is clean, reliable and affordable.
The opportunity offers economies of scale, diversity and high quality new renewable energy resources combined with large scale storage that is able to be built with economic and timing optionality.
Key findings from the Stage 1 analysis
Significant hydropower potential at competitive cost.
- Existing Tasmanian hydropower assets can be repurposed to provide more valuable services in the future market; targeted investment in pumped hydro energy storage in the system strengthens this proposition. When the obligation of Tasmanian energy security is shared with wind generation, the hydropower system can provide new system support services at very low cost to construct and operate. Adding pumped hydro capability to existing hydropower schemes would also increase the value of existing schemes through increased controllability.
- The cost to develop Tasmania’s pumped hydro opportunities is very competitive, with over 4800 MW and 140 GWh of opportunity at a cost to construct from $1.05-$1.5m/MW.