News & Events

[Byline Article] Change Your Energy, Charge Your Life

03.26.2018

Change Your Energy, Charge Your Life
Attributed to Jamie Allen, Business Manager, Australia and Pacific at LG Chem


1.7 million residents in South Australia were left without power last month following the 'perfect storm'. Difficult times call for different measures; for sustainable actions. No matter what your opinion of renewable energy is, there's no denying that renewable solutions have firmly established their place within the energy market. Consumers are becoming more savvy with their energy consumption, but during peak times, they are still crippled by an increased demand on networks (e.g. summer and winter). However, home-owners have the option to take back control of their energy use and go partially off-grid. Utilising the power generated by solar panels, consumers can store energy for later use, thanks to Energy Storage Systems (ESS). It has never been a better time for consumers to change how they consume energy to ensure a sustainable energy future.


Queensland, the Sunshine State
Beautiful one day, perfect the next – that's Queensland . It's no wonder they call it the sunshine state, three of the country's top cities for average total days with sun are located within its borders; Rockhampton – 272 days, Toowoomba – 255 days and Townsville – 264 days . But to put it in even more perspective Townsville gets 3139 hours of sunshine per year, Mackay gets 2993 hours while Brisbane receives 2884 hours . That's a lot of sunshine. With all that sunshine comes the potential for power. Queensland already has the largest number of solar PV installations of any state, followed by New South Wales and Victoria. A state expert panel in a recent draft report said that solar will challenges coal as the biggest single source of electricity in the state by 2030 as part of its 50 per cent renewable energy target. But having said that, Queensland is reported to have some of the highest electricity tariff prices in the country and will soon adopt the smart meter system consumers may be charged more during peak times, such as 4pm to 9pm (Many others states have already adopted and implementing this method).


Forget the Feed-In-Tariffs incentives
The incentive of feed-in-tariffs (FiT) is not what it used to be. When the scheme was first introduced in Queensland, consumers were offered 44c/kWh but that has dropped significantly for customers to 8c/KWh . Queensland is now only offering between 0c/kWh to 7c/kWh FiT to new customers, thus removing that instant lure. Queensland is the fastest growing state in the country attracting residents from all over the world thanks to its climate and lifestyle, but with that comes increasing infrastructure pressures, higher demands on the grid and consumer electricity price increases to pay for the required network infrastructure. Along with the unpredictability of mother nature, highlighted by the Adelaide incident, and her ability to cripple power supplies for an undisclosed amount of time, the incident also demonstrated that despite the force and fury of mother nature, consumers don't have to be slaves to the grid and can be self-sufficient thanks to ESS. In times of power crises, homes and businesses could still function without power outage disruptions.


The solution to end all solutions
Converting your home to become energy independent is a smart long term financial investment. Not only is it great for the environment it provides the opportunity to lock in the price of your own generated energy now and take control of rising electricity usage costs. Additional benefits are that most ESS systems can now provide blackout protection, it increases your properties value and pays it self off every time you use your own solar generated energy rather than purchasing polluting coal fired energy.


About LG Chem
LG Chem, Ltd. is Korea's largest diversified chemical company which operates three main business units: Petrochemicals, IT & Electronic Materials and Energy Solution. The chemical business manufactures a wide range of products, from petrochemical goods to high-value added plastics. It also extends its chemical expertise into high-tech areas such as electronic materials and rechargeable batteries field. Based on the many years of experience in the development and production of batteries, LG Chem is one of the world''s leaders in energy storage systems. As such, the company is a primary supplier for the mobile and automotive industry around the world. Entering the business of ESS in 2010, LG Chem has constantly developed and supplied innovative solutions for the ESS market segments such as Grid, Residential and UPS. Throughout multiple production facilities and an extensive distribution network globally, LG Chem has become a global leading company.

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