Consultation open for $523M Battery Breakthrough Initiative
The Australian Government is seeking industry feedback on the $523 million Battery Breakthrough Initiative, designed to grow Australia's battery manufacturing capabilities and strengthen the nation’s renewable energy sector.
The Australian Government has launched a consultation on its $523 million Battery Breakthrough Initiative, inviting feedback from industry to shape the future of Australia's battery manufacturing sector. The initiative, announced in the 2024-25 Federal Budget, is a key part of the National Battery Strategy, aimed at expanding the local battery industry and supporting the country’s renewable energy transition.
The initiative aims to commercialise battery technologies and enhance Australia's ability to compete in the growing energy storage market. Feedback from this consultation will play a key role in finalising the program’s design, with ARENA planning to launch the program by late 2024 or early 2025.
The consultation paper, co-developed with the Australian Renewable Energy Agency (ARENA), outlines proposed focus areas including active material production, battery cell manufacturing, and battery pack assembly. It also seeks feedback on market readiness and potential program outcomes.
Minister for Industry and Science, Ed Husic, highlighted the importance of stakeholder input, stating, “Countries around the world are investing in their own ability to make things and we can’t be left behind.”
“Millions of Australian homes use rooftop solar to lower their electricity bills, but only a fraction of these homes have a battery. We can do better.
“A thriving Australian battery industry will create more secure well-paid jobs and ensure we’re making the products Australians need.”
ARENA will be responsible for delivering the initiative, which is intended to complement other government programs such as Hydrogen Headstart and Solar Sunshot. Depending on the feedback received, funding for projects could be offered through production-linked payments or capital grants.
ARENA CEO Darren Miller emphasised the importance of energy storage for the future of renewable energy in Australia, noting, “Energy storage technology is absolutely critical for our renewable energy future.”
"We know that solar and wind energy can provide us the lowest cost renewable energy at scale, but we also need to be able to store it for when it is needed."
Stakeholders are encouraged to provide input on the program’s design, with submissions closing at 10am, Monday 7 October 2024.
