The Australian government has announced that it is funding new large scale batteries to deliver Australian households and industry reliable and affordable electricity.
The Hon Angus Taylor MP, Minister for Industry, Energy and Emissions Reduction. Credit: Australian Government website
The Australian government has announced that it is funding new large scale batteries to deliver Australian households and industry reliable and affordable electricity.
Through the Australian Renewable Energy Agency (ARENA), the Australian government is providing $100 million in grants for large-scale battery energy storage projects of 70MW or larger to provide essential system stability services to the electricity grid.
The funding will support at least three projects with a maximum grant of up to $35 million each and will be open to all battery energy storage technologies with advanced inverters.
The funding round will incentivise private sector investment and overcome barriers to the deployment of advanced inverter technology at scale, which can play an important role in keeping our grid secure as renewables continue to grow at pace.
Minister for Industry, Energy and Emissions Reduction Angus Taylor said: “Large-scale battery storage, along with gas and pumped hydro, will be an important part of Australia’s energy infrastructure mix as more and more renewables come into the grid. We have delivered lower energy prices with household costs down by more than 10%, but we want to ensure Australians continue to enjoy lower prices.”
The Australian Government, through ARENA, has funded six large-scale batteries since 2017, including the Energy Storage for Commercial Renewable Integration (ESCRI) project in South Australia, which is currently the country’s largest battery operating with advanced inverter technology.
Expressions of interest will open in February 2022.
