Greens launch $2.2 billion battery storage fund
From July 1, 2019, the Greens will introduce a $2.2 billion battery storage fund providing household battery storage incentives of up to $7000 per battery (tapering down annually to July 1, 2023). Each quarter, $137.5 million will be made available for use from the fund.
Battery storage in Australia is taking off, with household battery storage uptake tripling in 2017 and expected to reach 33,000 in 2018. However, the Greens recognise the industry is still developing and this boost will improve access for households and help manufacturers reduce costs and increase production.