Energy costs have risen by more than 50 per cent over the past year. For any business, this is a massive cost. But, in a tightly competitive market, where made in Australia is competing against cheap, overseas imports, this is disastrous.
Innovation and technological development is rapidly lowering the cost curve for new renewable plants. While mature technologies have plateaued, the cost of wind and solar photovoltaic generation has more than halved. The missing link that enables renewables to provide truly reliable, dispatchable power is storage technology which smooths variability.