The Australian Government has launched public consultations on its $523 million Battery Breakthrough Initiative.

Led by the Australian Renewable Energy Agency (ARENA), the initiative is designed to strengthen the nation’s battery manufacturing capabilities. 

ARENA’s Chief Executive Officer, Darren Miller, has highlighted the importance of energy storage, saying; “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”. 

The initiative is part of the National Battery Strategy and is expected to target several key areas, including the production of battery materials, manufacturing of battery cells, and the assembly of battery packs. 

ARENA says it is working closely with the Department of Industry, Science and Resources (DISR) to finalise the design of the program. 

As part of the consultation process, feedback is being sought on the market readiness of the sector and how best to structure the initiative.

Two funding models have been proposed: production-linked payments or capital grants, depending on the needs of individual projects. 

Submissions for the consultation are open until 7 October 2024, with the program expected to launch by late 2024 or early 2025.

More details are accessible here.

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