The Federal Government has launched Australia’s first National Battery Strategy.
The new renewable strategy aims to bolster the country’s economic resilience and security by developing a robust battery industry.
As global demand for batteries is expected to quadruple by 2030, the strategy outlines how Australia can capitalise on this growth.
The strategy identifies four key opportunities: developing energy storage systems for renewable energy, upgrading raw minerals into processed battery components, enhancing battery safety and security, and producing batteries for the transport manufacturing sector, including heavy vehicles.
Prime Minister Anthony Albanese said the batteries are essential for Australia’s clean energy future, alongside renewable energy, green hydrogen, and critical minerals.
“We want to make more things here and with global demand for batteries set to quadruple by 2030, Australia must be a player in this field,” he said.
Funding for the National Battery Strategy was detailed in the recent Budget, with $523.2 million allocated to the Battery Breakthrough Initiative.
This initiative, administered by the Australian Renewable Energy Agency (ARENA), aims to promote battery manufacturing through targeted production incentives.
Additionally, $20.3 million has been allocated to the Building Future Battery Capabilities program, which will support research and innovation in the battery industry.
The Future Battery Industries Cooperative Research Centre will receive funding to map Australian battery capabilities, drive innovation, and establish industry standards. The Powering Australia Industry Growth Centre will also benefit, focusing on workforce skills and training.
Furthermore, the Budget includes $1.7 billion for the Future Made in Australia Innovation Fund, also administered by ARENA. This fund will support the deployment of innovative technologies in clean energy manufacturing, including batteries.
Minister for Industry and Science Ed Husic said Australia has promising potential in the battery sector.
“Australia is a pioneer of battery tech, yet for too long we’ve sent our ideas offshore and lost the good jobs they create,” he said.
“Australia is moving beyond a ‘dig and ship’ economy to become a renewable energy superpower.
“It’s inexcusable that we supply half the global supply of lithium but produce less than one percent of the world’s processed battery components.
“The global clean energy transition is happening – and we’ve got a once-in-a-lifetime opportunity for Australia to create more well-paid, secure jobs.”
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