this post was submitted on 21 Dec 2023
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This is the best summary I could come up with:
The report says electricity generated by solar and on-shore wind projects is the cheapest for Australia, even when accounting for the costs of keeping the power grid reliable while they're integrated into the system in greater proportions over time.
It estimates the changing costs of electricity produced by coal, gas, solar, wind, nuclear, bioenergy, hydrogen electrolysers, and storage such as pumped hydro and batteries.
CSIRO's scientists say until recently, discussions about the potential cost of using nuclear energy in Australia have remained theoretical, with a lack of data from completed commercial projects hindering attempts to make worthwhile calculations.
This year's draft GenCost report also provides more data on the estimated "integration costs" for variable renewable technologies.
It says most new-build technologies, like renewables, can enter an electricity system and provide reliable power by relying on existing capacity already deployed, but as their share increases, which forces the retirement of existing flexible capacity, the system will find it increasingly difficult to provide reliable power supply without additional investment.
"Mind you, the integrated system plan was released last week and it did emphasise that although it is likely to be a renewable future, we'll still need gas as a supporting technology.
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