Australian govt announces funding for nation’s biggest hydrogen plant.(phto:Australian Renewable Energy Agency/Facebook)

Canberra, March 29 (IANS) Australia’s Commonwealth Scientific and Industrial Research Organization (CSIRO) on Wednesday called for significant investment in renewable energy storage to keep up with rising electricity demand.

The CSIRO released its roadmap for renewable energy storage in Australia, reports Xinhua news agency.

It found that the storage capacity of the national electricity market (NEM) could require a 10 to 14-fold increase between 2025 and 2050 with demand projected to rise rapidly as the building and transport industries electrify.

It said all forms of storage must be considered to meet growing demand on top of established technologies such as batteries and pumped hydro.

“Over the long-term storage will accelerate the integration of renewables, enhancing grid stability and reliability, and supporting decarbonization of industries,” Larry Marshall, chief executive of the CSIRO, said in a statement.

“There is no silver bullet for reaching net zero so we need multiple shots on goal, like from renewables, batteries, hydrogen, thermal storage, pumped hydro, sustainable aviation fuels and a host of new science-driven technologies.”

He said Australia needs a robust pipeline of projects that use diverse technologies supported by industry, government, research and community stakeholders.

CSIRO Energy Director Dietmar Tourbier said all stakeholders recognized energy storage as a priority but that significant knowledge gaps remained, requiring further investigation to support informed action.

“Co-investment is required across the system to accelerate technology commercialization and scale up across a diverse portfolio of energy storage technologies,” he said.