The energy transition has been on everyone\u2019s lips recently, but what’s involved in moving from an energy system reliant on big coal fired stations to one powered mainly by renewables? What needs to be considered to minimise disruption during this transition, and what does it mean for you? Let\u2019s break it all down. <\/p>\n\n\n\n
As the latest science from the Intergovernmental Panel on Climate Change<\/a> confirms, greater ambition and action will be required by society, including Origin, to limit the global average temperature rise this century to 1.5\u00b0C above pre-industrial levels, consistent with the goals of the Paris Agreement.\u202f <\/p>\n\n\n\n The energy sector accounts for around three quarters<\/a> of the world\u2019s emissions, so meeting climate change goals will require significant changes to the global energy system. The energy transition is a multi-decade, large-scale transformation that will fundamentally change the way society sources, produces, supplies, distributes and uses energy, and will deliver a significant reduction in global emissions. <\/p>\n\n\n\n This transition also brings with it challenges, with the need to balance energy security, reliability, and affordability \u2013 particularly for the more vulnerable members of society. <\/p>\n\n\n\n As a leading Australian energy company with operations spanning retail, power generation and natural gas production, as well as a major employer with a footprint in many communities across the country, we recognise we have an important role to play in the transition to a low-emissions future. Our core belief is that decarbonisation is good of our customers and the environment. <\/p>\n\n\n\n Our energy mix<\/a> and the range of products<\/a> and solutions we provide to our customers are evolving. First, we plan to speed up our exit from coal-fired power generation and accelerate the growth of renewables<\/a> and storage in our portfolio.\u00a0We’ve announced we’ll exit coal-fired power generation<\/a> with the closure of our Eraring Power Station<\/a> slated for August 2027. In addition, we have ambitions to significantly grow the scale of our virtual power plant<\/a> (VPP), which uses AI<\/a> to help remotely manage thousands of connected devices \u2013 including rooftop solar and home batteries \u2013 across the country. When delivered, these large scale renewable and storage projects, combined with the growth in our VPP<\/a>, will help replace the capacity from Eraring with low emissions energy sources.\u202f<\/p>\n\n\n\nOrigin’s role in the energy transition<\/h2>\n\n\n\n
We see a massive opportunity to increase our investment in renewables<\/a> and storage over the coming years.\u202fWe are progressing plans for a 700 MW battery<\/a> on the Eraring site and have acquired around 1,600 megawatts (MW) of solar farm development projects.\u00a0\u00a0<\/p>\n\n\n\n