Investment in big batteries hit $2.4bn in the first three months of 2025, making it the second strongest quarter for energy storage on record in Australia.
The latest data from the Clean Energy Council found six new storage projects – totalling 1.5 gigawatts capacity – reached financial close (the financial commitment that means the project is likely to be built) and a level of investment last seen in the final quarter of 2023 with a record $2.8bn.
The largest was the four-hour Wooreen battery system in Victoria, at 350MW, which was supported by the federal government’s capacity investment scheme.
Three large-scale battery systems in South Australia, one in Queensland and one in New South Wales also reached financial close.
Renewable energy had a slower start to the year, with two solar farms – totalling 386MW and $410m investment – reaching financial close. A quieter first quarter was typical, the CEC said, with investment ramping up throughout the year.
“Over the past five years, new investment commitments in the first quarter of the year have averaged 427MW, compared to a Q4 average of 1,153MW over the same period,” it said.
By the end of March, 82 renewable energy projects had either reached financial commitment or were under construction, representing 12GW of capacity.
The strong result for storage in the first quarter followed Australia’s biggest yearfor clean energy investment in 2024, in which rooftop solar installations on homes and businesses raced past 4m, the CEC’s annual snapshot found.
