Australian Capital TerritoryARENA Program
United States Strategic Energy Analysis Center of the National Renewable Energy Laboratory, The Centre for Energy and Environmental Markets, University of New South Wales, Energy Transitions Hub, University of Melbourne, ThoughtWorks Australia Pty Ltd, New South Wales State Government, Victorian State Government, South Australian State Government
The project will develop a detailed web-based open source grid integration and optimisation Modelling Tool for the Australian National Electricity Market (NEM).
How the project works
The Modelling Tool will allow users to perform extensive scenario modelling of the NEM with an array of input assumptions or explore pre-run plausible scenarios. The Modelling Tool’s open-source and freely available nature will enable the results to be verified, reproduced and extended by interested shareholders.
Area of innovation
The Modelling Tool will address some key limitations of previous academic and industry studies and provide greater levels of detail. In particular, rather than modelling a static future energy system the work will focus on the transition path from the current system to possible future scenarios. The Modelling Tool will also seek to identify when and where existing electricity infrastructure should be retired and new capacity added to achieve desired future targets at least cost, while maintaining system reliability. This is expected to help drive investment in renewable energy through informing and supporting energy system planning and policy analysis.
The Modelling Tool’s use will enable insights into potential pathways for the evolution of the NEM. Amongst other things, users will be able to examine the impact of:
- economic and regulatory factors such as technology costs or changes in fuel prices;
- technological changes, including improvement in the performance of energy generation and storage electricity, transmission, and energy use efficiency; and
- specific large energy projects.