More than 507,000 households, small businesses and community organisations have installed a home battery storage system under Australia’s Cheaper Home Batteries Program, according to figures announced by Prime Minister Anthony Albanese and Energy Minister Chris Bowen.
Australia has installed 380,712 home battery storage systems, representing 10.7GWh of storage capacity, since the introduction of the Cheaper Home Batteries Program last year, Chris Bowen, Australia’s minister for climate change and energy, has disclosed.
Australia’s heavy reliance on imported fossil fuels has left households and businesses dangerously exposed to global energy shocks, with the current conflict involving the US and Iran costing motorists more than AU$1 billion (US$710 million) in March alone.
Shenzhen PowerOak New Energy Co., Ltd. (PowerOak), the fourth key player in the global portable energy storage sector, has submitted its IPO application to the Hong Kong Stock Exchange.
The Australian government is reportedly exploring additional modifications to its Cheaper Home Batteries Program, including the possibility of an early wind-up, as the government seeks budget savings ahead of the May federal budget.
Australia’s Cheaper Home Batteries Program has surpassed 100,000 installations, with households and small businesses now benefiting from subsidised battery installations totalling 2GWh of distributed energy storage capacity.
