When Snowy 2.0 is in the news, it’s usually about money. The cost of the huge project has gone well beyond the initial A$6 billion estimate and will now cost more than $12 billion.
But cost overruns don’t affect the real value of this pumped hydro project. When it comes online – likely in 2028 – Snowy 2.0 will bring something fundamentally new to the Australian electricity system: energy storage at a scale far beyond anything else.
