Australia launches first National Battery Strategy-Xinhua

Australia launches first National Battery Strategy

Source: Xinhua

Editor: huaxia

2024-05-23 09:19:16

CANBERRA, May 23 (Xinhua) -- The Australian government will offer incentives for the construction of batteries under the country's first National Battery Strategy released by Prime Minister Anthony Albanese and Ed Husic, minister for industry and science on Thursday.

Under the strategy, the government has committed 543.5 million Australian dollars (359.9 million U.S. dollars) in funding to incentivize cutting edge battery research and the development of battery manufacturing capabilities in Australia.

According to the strategy, global demand for batteries is set to quadruple by 2030 amid the global transition to net zero emissions.

The strategy identified the construction of stationary batteries to support the shift to renewable energy, upgrading raw minerals into processed battery components, Australia's capability to build safer batteries and building batteries for heavy vehicles as major opportunities for the country.

"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," Albanese said in a joint statement with Husic.

The strategy is part of the governing Labor Party's Future Made in Australia policy, which aims to capitalize on the economic opportunities of the net zero transition.

Husic said it would help Australia become a renewable energy superpower by moving beyond a dig and ship economy.

"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.

In 2023, there were 3.7 million homes in Australia with rooftop solar panels but only 250,000 of those had batteries to store excess electricity, the strategy said.