Group of batteries. Source : Public Domain Pictures
Consultations have begun to launch Australia’s first National Battery Strategy to help transition to a more sustainable economy.
The consultations were launched at a visit to Energy Renaissance, which is a lithium-ion battery technology and manufacturing company in New South Wales.
The intention is to develop a strategy that will help Australia transition to a more sustainable and decarbonised economy, aid in hitting emissions targets, and help support Australian innovation and industry.
Minister for Industry and Science Ed Husic said the strategy will help the battery development and manufacturing industry in Australia.
“Our general approach should be one where if we mine it here, we should make it here.” Mr Husic said.
“Large scale uptake and manufacture of batteries will be vital transitioning to net-zero.
“New battery capacity will help support grid scale capacity, power our homes, and electrify our transport sector.” He said.
Mr Husic also said the demand for next generation batteries is booming, making it the right time to develop the strategy.
“We know there is huge demand for energy storage to support the widespread uptake of solar generation by households, business, and industry.” Mr Husic said.
“Global demand for existing and next-generation batteries is forecast to increase nine to 10-fold over the next decade.
“That’s why it is important that we harness the opportunity to become a key player in battery manufacturing and export on the world stage.
“Australia has globally significant deposits of essential battery materials and strong local innovation and research capabilities.
“By drawing on these strengths, Australia can take its place in the profitable global battery supply chain.” He said.
Bloomberg New Energy Finance estimates that 387 gigawatts of new energy storage will be added by 2030.
Mr Husic said the strategy will help support Australia’s Critical Minerals Strategy.
Both plans will help Australia reach a higher economic potential and work towards emissions targets.
