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Big battery boom could deliver 18 GW of grid-scale energystorage by 2035

https://reneweconomy.com.au/big-battery-boom-could-deliver-18-gw-of-grid-scale-energy-storage-by-2035/

A new report has predicted that Australia is on the cusp of a big battery boom that could deliver 18 gigawatts (GW) of installed energy storage capacity by 2035 – an eight-fold increase on the 2.3 GW installed at the end of 2024.

In its 2025 Australia Energy Storage Update, published on Friday, Bloomberg New Energy Finance says electricity market volatility, supportive government policies and expected coal plant closures are driving potentially huge growth in big battery capacity as Australia shifts to renewables.

Such is the momentum, according to the report’s lead author, BNEF Australia senior associate Sahaj Sood, that a battery boom is looking likely “regardless” of the outcome from the federal election, which is now set for May 3.

“The election is set to be a referendum on Australia’s pathway to a low-carbon power sector,” says Sood.

“A win for the incumbent Labor Party would see continued support for renewables, and the batteries to integrate them. A win for the Coalition would see the emphasis shift toward nuclear, a potential lifeline for some of the country’s aging coal fleet.

“Either way, batteries will be required to balance Australia’s volatile power markets by shifting power from times of low demand and high supply to times of high demand and low supply.”