EnErgy storagE financEability in australia
There are a range of established energy storage technologies that can meet this need such as batteries and pumped hydro energy storage (PHES).
The Australian federal government's 32 GW Capacity Investment Scheme (CIS) is already bearing fruit, with a competitive tender seeking 600 MW of energy storage capacity in Victoria and South Australia attracting 19,000 MW of project proposals. From pv magazine Australia
The winning bids include several battery energy storage systems (BESS) exceeding 500MWh in capacity, with at least two projects reaching the 1GWh threshold. The government has released the complete list of 16 successful projects (below). The projects range from 100MW to 450MW, with storage durations between 2 and 4 hours.
They store solar and wind power for use during peak demand or outages, supporting grid resilience, lowering costs, and accelerating the transition to clean energy. Australia's energy storage market is experiencing strong growth due to rising electricity prices, rapid solar adoption, and increasing demand for reliable backup power.
Akaysha Energy has secured support for two BESS projects with a combined capacity of 470MW/1,880MWh. Image: Akaysha Energy (via LinkedIn). Australia's Capacity Investment Scheme (CIS) has awarded 4.13GW/15.37GWh of battery storage capacity in its third tender round, after attracting around 135GWh of bids.
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