This 3D image shows how operational demand has moderated despite increasing underlying demand in the WA Wholesale Electricity Market (WEM). This is due mainly to the growth in rooftop PV.
It can be assumed the cost of solar panels will continue to fall. As well as domestic installations, there has been significant growth in unsubsidised commercial installations. The average size of domestic installations has at the same time increased. This has been due in part to the 'Electrify Australia' campaign including the growth in sales of battery electric vehicle and plug in hybrids. While these trends will undoubtably lead to increased underlying demand, at the same time they increase consumer desire for greater energy self sufficiency. The federal government has announced that vehicle to grid (V2G) standards will be established by the end of 2024. Storage batteries have also continued to drop in price and are reaching the point where there is now a significant takeup. DC coupled, home batteries enable greater overloading rooftop PV panels.
The advent of increasing home storage will begin to flatten the early evening peak demand. These trends can only further erode the business case for continuous, centralised fossil fuel based generation.