The $423 million energy plan is expected to improve research, development and adoption of smart grid solutions and new utility business models in South Australia.
The Australian state government will use the funds to develop new energy generation resources to reduce its energy imports.
“Our energy plan will restore security and put downward pressure on prices. We’ll get reliable, affordable and clean power and ensure more of the state’s power is sourced, generated and controlled here in South Australia.”
The $423 million capital will be used for the construction of $227 million 100MWh gas-fired power plant and energy storage systems for storing energy generated from clean energy resources including wind and the sun.
The investment follows last year's series of power outages in South Australia and warnings of double increases in energy costs in east Australia, South Australia state's main energy source.
Meanwhile, the Australian state of Victoria announced that it will invest $15.3 million to boost the state's energy storage market.
The $15.3 million is expected to help the state meet its target to increase energy storage capacity to 100MW by the end of 2018.
The capital increases the state's investments in large-scale energy storage programmes from $3.8 million.
Premier Daniel Andrews, commented: "This battery storage is one way, a really practical way, that we can make sure there is a strong grid and stable supplies and secure supply right across our state." [Australia expands adoption of ToU energy pricing]
The investment will allow the state to improve its reliance on renewable energy resources under efforts to provide consumers with clean and affordable energy as well to reduce carbon emissions.
Image credit: Sourceable