Australia’s battery industry opportunity has doubled and could provide $16.9 billion in value-add and support 61,400 new local jobs by 2030, according to a new report by the Future Battery Industries Cooperative Research Centre (FBICRC).
The Charging Ahead – Australia’s Battery Powered Future report builds on important findings released in FBICRC’s 2021 Future Charge Report, which found that $7.4 billion of value and over 34,000 jobs could be created by the battery industry.
Increases in clean energy expenditure over the last 18 months have seen these figures double.
Decisive action from Australian industry, government and research institutions, through the National Battery Strategy, will be essential to capture this much larger opportunity in the context of greater international competition.
The report highlights the impressive growth of Australia’s battery industry, across the supply chain and commercialisation spectrum. It makes key recommendations to harness Australia’s opportunities from the significantly increased and accelerated demand.
FBICRC CEO Shannon O’Rourke said, “In light of recent geopolitical developments, our report has shown Australian policymakers should explore more aggressive industry policies, target markets that are looking to diversify their supply chains, and partner with geopolitical allies to enable and enhance the potential growth of Australia’s battery industry.
“FBICRC stands ready to provide our research expertise and analysis to support Governments across Australia leverage our battery industry’s competitive advantage and make the most of the recent and significant global economic, industrial and political shifts.”
Last month, minister for Industry and Science Ed Husic formally launched consultations for Australia’s first National Battery Strategy to support the transition to clean energy.
Minister Husic said domestic battery industries will be buoyed by Australian know-how and domestic access to minerals to help power the move to clean energy here and around the world.
You can read the full Charging Ahead Report here.
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