The Rise of 24-Hour Solar Power
The landscape of green energy is evolving rapidly, driven by the plummeting costs of solar photovoltaic (PV) and battery storage. A recent report by the UK-based energy think tank Ember reveals a significant 22% decrease in the combined cost of solar and battery storage over the past year, marking a pivotal moment in the transition to clean energy.
Lead analyst Kostansta Rangelova describes this shift as a game-changer, highlighting the newfound feasibility of around-the-clock solar generation. This advancement not only presents economic opportunities but also addresses the energy needs of industries like data centres and manufacturing.
The Growing Trend Towards Solar and Battery Storage
The synergy between solar and battery storage is gaining traction globally, with notable investors such as Quinbrook Infrastructure Partners recognising its potential. In Australia, Quinbrook plans to develop 3 GW of solar capacity and 24 GWh of battery storage, heralding a significant step towards decarbonisation.
Moreover, major energy consumers like Rio Tinto are embracing solar and battery solutions to transition away from coal dependency. By adopting renewable technologies, these companies are not only reducing their carbon footprint but also securing a stable and cost-effective energy supply.
The Role of Solar and Battery Storage in the Energy Transition
Ember’s report underscores that while solar and battery storage are crucial components of the energy mix, other technologies like wind power will also play a vital role. However, for individual consumers and cities, the option to access low-cost, zero-emission power through solar and battery storage is becoming increasingly feasible.
One key observation by Ember is the potential for battery storage to enhance solar output, particularly in regions with abundant sunlight. This combination can deliver up to 97% of continuous solar generation, offering a cost-effective alternative to traditional energy sources like coal and nuclear.
The Advancements in Battery Technology
Battery technology is rapidly evolving, with prices plummeting by 40% in 2024 alone. The decreasing costs and increasing efficiency of battery systems are making 24-hour solar generation more accessible and cost-effective for a wide range of consumers.
Projects like the gigawatt-scale solar initiative in the UAE and the proliferation of solar-battery hybrids in Australia demonstrate the growing trend towards sustainable energy solutions. These developments not only reduce reliance on fossil fuels but also pave the way for a more resilient and environmentally friendly energy infrastructure.
