THE ACT GOVERNMENT’S NEXT GENERATION ENERGY STORAGE PROGRAM – Point Advisory’s mid-term review
The ACT Government’s Next Generation Energy Storage Program represents one of the largest rollouts of household battery systems in the world. The program offers funding to support the installation of energy storage options to homes and businesses across the territory. Each system installed has ‘smart’ capabilities, meaning they are able to respond to market price signals and interact with other systems in the ACT to form a virtual power plant (VPP).
Point Advisory and partnering organisation Energy Synapse were engaged by the Environment, Planning and Sustainable Development Directorate (EPSDD) of the ACT Government to conduct a rapid mid-term review of the ACT’s Next Generation Energy Storage Program in early 2019. The project assessed the efficiency and effectiveness of the program and identified opportunities for improvements, including ways to increase the uptake of energy storage systems under the program.
The review found that beneficiaries are overwhelmingly positive about the program, with participants reporting significant bill savings. This review also determined that future planned or likely rule changes regarding 5-minute settlement and wholesale demand response within the NEM, may increase the business case for batteries, further incentivising uptake across the ACT.
This article was written by Caoilinn Murphy, Senior Manager at Point Advisory.