Consultation has opened today on the Australian Government's $523 million Battery Breakthrough Initiative, being delivered by the Australian Renewable Energy Agency (ARENA).
Announced in the 2024-25 Federal Budget in May, the Battery Breakthrough Initiative aims to fund projects that enhance the development of Australia's battery manufacturing capability to improve supply chain resilience and provide opportunities for Australia's economy and workforce in the renewable energy transition.
ARENA CEO Darren Miller said batteries are a crucial enabler of Australia's emissions reduction goals.
"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 Battery Breakthrough Initiative will aim to commercialise battery manufacturing technology and processes, provide clean energy opportunities for Australia's workforce and allow Australia to leverage its expertise in energy storage."
We want to work with industry to identify where the opportunities are to supercharge Australia's battery manufacturing sector."
Central to the National Battery Strategy, the program will be delivered by ARENA, working closely with the Department of Industry, Science and Resources (DISR).
It is proposed that the program will initially focus on the production of active materials, battery cell manufacturing and battery pack assembly. Through the consultation, ARENA is seeking feedback on market readiness, and design of the program.
The draft Program design also proposes that funding could be provided by either production-linked payments or capital grants, depending on the needs of the Project.
Consultation is now open, with submissions due by 10am, Monday 7 October 2024. ARENA is aiming to launch the Program by late 2024 or early 2025.
ARENA will deliver the Battery Breakthrough Initiative, which is aligned with the Economic Resilience and Security stream of the Future Made in Australia (FMA) policy agenda.
