In order to succeed in changing to a sustainable energy supply and also achieve climate protection goals, we have to build hydropower plants and also wind and solar farms all over the world. However, as wind turbines and solar cells don’t provide a regular supply of electricity, electrical energy storage devices will be needed on a large scale. Technologies like lithium-ion batteries alone will not suffice.
After winning a competitive selection process, Tesla will supply 40 of its Megapack utility-scale battery energy storage systems (BESS) to a project by Australian renewable energy developer Genex Power.
Genex – one of Australia’s few remaining renewable energy and storage companies listed on the Australian Stock Exchange – has revealed a $16.5 million write down on the value of its recently completed Jemalong solar farm as a result of falling power prices.
The latest findings from the most comprehensive climate report released to date have rattled ASX 200 shares today. What has been described as a ‘code red for humanity’, the report produced by the Intergovernmental Panel on Climate Change (IPCC) has unearthed some concerning conclusions.