Victoria to invest another AU$20 million in energy storage initiatives

LinkedIn
Twitter
Reddit
Facebook
Email
The funding, which adds to the AU$5 million already put forward, will support firms specialising in batteries, pumped hydro or solar thermal.
The funding, which adds to the AU$5 million already put forward, will support firms specialising in batteries, pumped hydro or solar thermal. Credit: Greensmith

The government of Victoria in Australia plans to invest AU$20 million (US$15.2 million) in large-scale energy storage initiatives across the state to reach 100MW by the end of 2018.

The funding, which adds to the AU$5 million already put forward, will support firms specialising in batteries, pumped hydro or solar thermal.

This article requires Premium SubscriptionBasic (FREE) Subscription

Enjoy 12 months of exclusive analysis

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Annual digital subscription to the PV Tech Power journal
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

A government release claimed that supporting storage would help create jobs. Furthermore, energy storage, micro-grids and internet-enabled technologies, coupled with renewable energy sources, could also be used to manage energy demand, particularly in peak periods.

The Government is also setting up an Energy Taskforce of Cabinet to ensure the energy system remains as reliable as possible.

Premier Daniel Andrews and minister for energy and environment Lily D’Ambrosio made the announcement while touring Tesla’s Melbourne headquarters.

The announcement also came at the same time as the South Australia government announcing its own plans to provide AU$150 million partly to help set up a 100MW battery storage project in the state. Tesla chief Elon Musk had said just days earlier that his firm could solve South Australia’s grid troubles in 100 days with its own 100MW battery.

Read Next

May 1, 2025
Copenhagen Infrastructure Partners (CIP) will divest a 50% ownership stake in its 500MW Coalburn 1 BESS to alternative investor AXA IM Alts.
Sponsored
May 1, 2025
Alper Peker and Dominic Multerer of Camopo explain how flexibility is the key to long-term profitability for hybrid renewables-plus-storage power plants.
May 1, 2025
Yarra Energy Foundation has secured funding to install three new community batteries in and around Melbourne, Victoria, Australia.
May 1, 2025
AEMO has revealed that, as of March 2025, the pipeline of new standalone BESS in the NEM has increased by 86% year-on-year (YoY).
April 29, 2025
Australia’s MGA Thermal has completed what it claims is the world’s first industrial steam heat energy storage demonstrator project.

Most Popular

Email Newsletter