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Battery Breakthrough Initiative - Australia

Source：IEA

In the May 2024 Federal Budget, the Australian Government announced the $523.2 million Battery Breakthrough Initiative to strengthen economic resilience and critical battery manufacturing capabilities. 

 

This initiative will provide production-linked incentives for high-value battery products in Australia’s areas of competitive advantage, in line with the government’s Future Made in Australia agenda. 

 

The National Battery Strategy is a key step towards developing a thriving domestic battery industry in Australia. 

 

To support the success of the National Battery Strategy, the government has:

 

  • Announced the $523.2 million Battery Breakthrough to strengthen economic resilience and critical battery manufacturing capabilities. This initiative will provide production-linked incentives for high-value battery products in Australia’s areas of competitive advantage, in line with the government’s Future Made in Australia agenda. 
  • Committed $20.3 million for the Building Future Battery Capabilities measure to build our future battery capabilities and strengthen national collaboration. This will include support for:
  • FBICRC to develop a supply chain navigator tool, helping build the Australian battery ecosystem and giving industry access to information on customers, capability, traceability and ESG.
  • FBICRC to use its existing links with industry and academia to create a battery innovation and scale-up program for the commercialisation of innovative Australian battery technologies.
  • FBICRC to support the development of best practice guidelines and standards for industry on how to safely install, maintain, transport and handle batteries.
  • PAIGC to support skills training on battery research, manufacturing, transport and recycling, as well as specialised equipment needs and career pathway initiatives. 
  • Announced a range of actions under the government’s Future Made in Australia agenda that will support the growth of Australia’s battery industry, including: 
  • The proposed Future Made in Australia Act will include a National Interest Framework which will clarify how government will support a Future Made in Australia by guiding the identification of priority industries. This includes investments in clean energy technology manufacturing – such as batteries.
  • $7 billion in support for Australian critical minerals processing over the decade to 2033–34 through the new Critical Minerals Production Tax Incentive, to support downstream processing for all 31 critical minerals, many forming important battery materials.
  • $1.7 billion over seven years from 2024–25 for the Future Made in Australia Innovation Fund. This will support innovation, commercialisation, pilot and demonstration projects and early-stage development in priority sectors – including clean energy technology manufacturing such as batteries.
  • $1.5 billion over 10 years from 2027–28 to the Australian Renewable Energy Agency. This will supercharge ARENA’s core investments in renewable energy and related technologies. These investments include the development, demonstration, commercialisation, manufacture and deployment of renewable energy technologies that will help make Australia a renewable energy superpower. 
  • $91 million over five years from 2023–24 (and a further $0.6 million over three years from 2028–29) to support the development of the clean energy workforce. This includes addressing vocational education and training sector trainer workforce shortages, and funding new and existing training facility upgrades across a range of clean energy occupations.
  • $5.8 million for a critical minerals trade enhancement initiative to help address strategic behaviour in critical minerals markets.  
  • Created the Capacity Investment Scheme to integrate more Australian batteries into Australia’s energy system to put downward pressure on power prices and achieve 82% renewables by 2030. 
  • Established the $15 billion NRF, including investing up to $3 billion in renewables and low emission technologies, such as batteries. This will support Australian industries to decarbonise, while also providing opportunities to meet the increasing demand in global supply chains.
  • Established Rewiring the Nation to invest $20 billion in modernising Australia’s electricity grid and delivering new and upgraded transmission infrastructure.
  • Committed to provide $224.3 million in funding for 400 community batteries through the Community Batteries For Household Solar Program.
  • Supported further international collaboration with key partners to support the development of emerging battery technologies.
  • Committed $5.6 million to conduct options analysis and research to support the delivery of the Australian Made Battery Precinct. The Australian Government has committed up to $100 million of investment into the development of the precinct in partnership with the Queensland Government.

 

The government will continue to consult with businesses and researchers as well as state and territory governments to keep up to date with the needs of the battery industry.

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