Research shows that the (NEM) in Australia is dominated by sub-critical electricity generators that are in general old and highly polluting by global standards.
Moody’s expects battery storage to become economically viable within 3 to 5 years, with biggest losers being electricity generators, particularly peaking gas plants.
UBS analysts suggest energy utilities in Europe, north America and Australia are facing a “perfect storm” from the falling costs of renewables, energy efficiency and falling demand, and may not be able to sustain their business models. The analysts suggest the utilities embrace wind and solar, storage and other services if they are to survive.
Analysts from UBS say energy markets are facing a revolution caused by the success of unsubsidised solar. They say solar costs have fallen so far, it was a no-brainer for households to install rooftop solar, turning customers into competitors for utilities. The implications for coal-fired generators could be devastating.