NSW Energy Minister Penny Sharpe and the NSW Government have provided a positive investment signal to proponents of long duration storage projects, with the following announcements:
- A new target of additional 12 GWh by 2034 on top of the existing target of 16 GWh of long duration storage by 2030
- Retaining the 8-hour definition in the legislation.
As coal power stations retire and we advance towards a sustainable and secure energy future, a diverse mix of technologies is essential. This includes wind and solar generation backed up with batteries and long duration storage solutions like pumped hydro.
Stride looks forward to seeing future developments in funding and fit-for-purpose mechanisms to support investment in these technologies.
Read Stride’s article last year on why pumped hydro matters in the energy transition.
