https://reneweconomy.com.au/hornsdale-b ... -on-85139/
The so-called Tesla big battery at Hornsdale doubled the amount of money it saved consumers in its second full year of operation, and its rapid response to massive network faults once again helped to keep the lights on, a new report has found.
Neoen on Friday released a report by energy consultancy Aurecon on the Hornsdale Power Reserve – which at 100MW and 129MWh remains the biggest lithium-ion battery in the world – and found that the money it saved consumers in 2019 jumped to $116 million, from $40 million in 2018.
It’s a massive payback for consumers, because the state government has only had to inject $4 million a year for 10 years
under its underwriting agreement for the battery, and as financial result have shown, the $96 million total investment is also delivering a handsome return for its owners, Neoen Australia.
And it has paid handsome dividends in terms of grid security, and helped rethink the role that batteries – once demonised by prime minister Scott Morrison as about as useful as a big banana – can play in Australia’s transitioning grid.
Almost all of the savings delivered by the Hornsdale battery came from its role in frequency and ancillary control markets, a key part of network security that had previously been the domain of fossil fuel generators, so much so that in South Australia these fossil fuel generators controlled the market like a cartel.
The arrival of the big battery in 2017 quickly shattered those cosy arrangements, particularly on those occasions when a failure in the main link to Victoria caused the South Australia grid to be “islanded”. In those times, the gas generators had been free to bid the prices in the eight different FCAS markets to the market cap, which they invariably did.
But not with Hornsdale, whose contract with the South Australia government also requires it to play fair in the bidding stack. As a consequence, the Aurecon report estimated that $14 million was saved in just five hours on November 16,
when the state was briefly “islanded” and had to provide its own FCAS support.
Wow the Tesla Battery that was supposed to be useless, made 20 Million dollars more last year than what it cost....
They are adding 50% to the battery early this year as well and you can see why.
We really need one of these in Every State to get rid of the Fossil Fuel Peaker Plant cartel that have been rorting the system..
Just about every day Renewable Energy and storage is going down in price and going up in Efficiency while Fossil Fuel Energy is Increasing in price and lowering in Efficiency because they need to add systems to try and stop them being so poluting, It's just economics..... Side benefit is clean air and clean land
Bongalong... for some reason women are just so superior to anything that ever existed or will ever exist!
Shellandshilo1956 ….. Even an annoying troll, has the right to free speech.