@inproceedings{e584e6a51ce242798980dae4e532af27,
title = "The low cost of balancing solar PV and wind",
abstract = "Australia is installing PV and wind at 10 times the global per capita average rate and 3-5 times faster per capita than the USA, Japan, Europe or China. Australia's National Electricity Market (NEM) and the state of South Australia reached {PV + wind} penetrations of 24% and 70% respectively and are tracking towards 40% and 100% in 2024. This represents a natural experiment in the cost of generation and balancing. The real cost of generation and balancing will become clearer as each year passes and the PV and wind fraction of electricity in Australia continues to increase. In response to rising PV and wind penetration, balancing investment in Australia is predominantly in off-river pumped hydro, transmission and batteries. The current (2021) and market futures (2024) price for electricity is in the range of US35/MWh which includes both generation and balancing.",
keywords = "Energy, Energy conversion, Photovoltaic cells",
author = "Andrew Blakers and Matthew Stocks and Bin Lu and Cheng Cheng",
note = "Publisher Copyright: {\textcopyright} 2021 IEEE.; 48th IEEE Photovoltaic Specialists Conference, PVSC 2021 ; Conference date: 20-06-2021 Through 25-06-2021",
year = "2021",
month = jun,
day = "20",
doi = "10.1109/PVSC43889.2021.9518930",
language = "English",
series = "Conference Record of the IEEE Photovoltaic Specialists Conference",
publisher = "Institute of Electrical and Electronics Engineers Inc.",
pages = "617--620",
booktitle = "2021 IEEE 48th Photovoltaic Specialists Conference, PVSC 2021",
address = "United States",
}