The Australian Government, through the Australian Renewable Energy Agency (ARENA), is providing $100 million in grants for large-scale battery energy storage projects. Projects of 70 MW or larger can provide essential system stability services to the electricity grid.
The funding will support at least 3 projects with a maximum grant of up to $35 million each. It 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. Such batteries can play an important role in keeping our grid secure as renewables continue to grow.
The Hon Angus Taylor MP, Minister for Industry, Energy and Emissions Reduction, said the government is working with the private sector to identify and support energy storage projects that will secure Australia’s record levels of renewables.
'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,' Minister Taylor said.
The Hon Tim Wilson MP, Assistant Minister to the Minister for Industry, Energy and Emissions Reduction, said 'our plan to be carbon neutral by 2050 is coming to life through large scale batteries that harness the potential of renewables while offsetting their intermittency.'
Expressions of interest will open in February 2022.