ACT to fund electrical battery storage

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SIMON Corbell says the ACT Government will support 36 megawatts of battery storage in Canberra homes and businesses through a next generation renewables auction program starting next year.

“The program will keep the ACT at the cutting edge of innovation in its continued support of renewable energy,” Simon said.

“Today I am announcing the ground-breaking Next Generation Renewables Pilot that will see up to $600,000 awarded through a competitive grants process for companies installing distributed solar storage in the ACT in 2016.

“The pilot will inform the design of a next generation renewables auction to be launched in early 2016 that will see more than 36 megawatts of battery storage rolled out in more than 5000 Canberra homes and businesses over the next 4 years.

“The launch of the next generation renewables strategy closes off the government’s analysis of the Next Generation Solar Expression of Interest process run earlier this year.

“The EOI provided valuable insights into the emerging opportunities for solar and battery storage in the ACT and has been key in informing the development of the government’s strategy going forward.

“The global battery storage market is predicted to be worth $400 billion by 2030. Our own market research indicates that the ACT is an ideal launching pad for both national and international businesses seeking to get a head start in this exciting emerging industry.”

“The next generation renewables strategy will be supported by a fourth reverse auction for 109MW of renewable energy in 2016. The auction will secure the achievement of the ACT’s targets of 90 per cent renewable energy and a 40 per cent reduction in GHGs by 2020. Under the auction, proponents will also be required to contribute funding that will subsequently be awarded through a concurrent competitive auction to install distributed storage in the ACT.

“Low-cost energy storage is the missing-link in the transition to a 100 per cent renewable energy grid, and the ACT is determined to play its part in developing this emerging industry while capturing the benefits for households, businesses and research and trades training institutions.

“The ACT Government has a vision for Canberra to become a globally recognised centre for renewable energy innovation and investment. Today’s announcement sends a clear message to industry that the ACT is serious about tackling climate change and that this is the place to invest in renewable energy technology.”

For more information visit act.gov.au

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