Industry minister Ed Husic has given the strongest indication yet that the federal government will back with cash new battery manufacturing in Australia.
Speaking to the Australian Information Industry Association, Husic indicated funds would come from the government’s $15 billion National Reconstruction Fund.
One of the fund’s seven priority areas is in manufacturing renewables and the deployment of low-emission technology.
Husic said: “The government will earmark up to $3 billion within our National Reconstruction Fund to support our Powering Australia Plan, which has got a strong immediate focus on building up local manufacturing capability and help speed up the deployment of solar, wind, batteries, transmission for the electricity sector and potentially EVs for the transport sector.”
Husic said the success of sustainable industries will be dependent on energy storage.
“Frankly…batteries are central to transforming the system and the transport sector as we aim for net zero by 2050.
“…It’s an area of enormous potential for the sector. By 2030 battery industries could contribute – if we get the value chain right – $7.4 billion a year to Australia’s economy and create up to 35,000 jobs.”
Husic said the estimates were based on forecasts by the Future Battery Industries CRC that the battery sector would increase up to tenfold over the next decade. That’s more than solar PV grew over the last decade.
“We’re putting the nation in a position to capitalise on this growth via our Australian Made Battery plan.
“We want to be able to manufacture batteries in this nation given the huge store of resources – critical minerals, rare earths – that we have.
“We ship a lot of it off. Where is the value-add to make a big difference here, particularly in terms of that area that I’ve mentioned around the manufacture of energy storage systems?”
There are numerous steps being taken towards lithium ion battery manufacturing.
A leader is Energy Renaissance which is close to opening Australia’s first lithium-ion battery Giga-factory following the successful completion of a pilot plant supported by the Advanced Manufacturing Growth Centre.
ENERGY RENAISSANCE CLOSE TO OPENING BATTERY GIGA-FACTORY
Picture: Energy Renaissance