The Australian Energy Market Operator (AEMO) has released the 2022 Integrated System Plan (ISP), outlining a 30-year roadmap of investments for the National Electricity Market (NEM). The plan would require investments totalling AUD12.7bn (US$8.8bn).
The step-change scenario, which assumes rapid consumer-led transformation of the energy sector and coordinated economy-wide action, forecasts annual electricity consumption from the grid will double by 2050, as transport, heating, cooking and industrial processes are electrified, while 60% of the current coal generation will be stopped by 2030 (end of coal-fired generation in 2043). Under these assumptions, the AEMO would require nine-fold increase in grid-scale wind and solar capacity to 141 GW, triple the firming capacity (dispatchable storage, hydro and gas-fired generation) to 71 GW and a near five-fold increase in distributed solar to 69 GW.
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