Australian renewable energy developer Genex Power has achieved financial close on what looks likely to be the country’s first new pumped hydro energy storage (PHES) plant in nearly 40 years.

The Australian Energy Market Commission has drafted a new rule to enable the provision of fast frequency response services to help keep the electricity grid stable which one expert said will be “a really important market for batteries”.

Australia’s strong and ongoing potential for energy storage paired with solar PV has seen international and domestically-headquartered companies race to gain market share.

Shifting responsibility for product safety onto manufacturers, rather than installers, of residential energy storage systems would be a positive step forward for Australia’s industry, the country’s Clean Energy Council has said.

A set of guidelines for safely installing energy storage at customers’ houses will probably undergo significant revision from its current draft, which has been slammed as “not fit for purpose” by the head of the Australian Energy Storage Council.

Stakeholders have two months to comment on guidelines for safely installing lithium-ion energy storage in Australian homes being drafted by Standards Australia, which have already proved controversial.

The Australian state of Queensland has announced a 400MW renewable energy auction with 100MW ring-fenced for energy storage.

As more and more Australians look to energy storage solutions, a set of installation guidelines from the Clean Energy Council (CEC) has been released for industry and consumers which will be mandatory for installers accredited by CEC schemes by October.