$16.9 billion battery opportunity awaits

The Future Battery Industries Cooperative Research Centre (FBICRC) has released its latest report, ‘Charging Ahead — Australia’s Battery Powered Future’, which reveals 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.

The report builds on 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 greater than expected 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.

“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,” said FBICRC CEO Shannon O’Rourke.

“FBICRC stands ready to provide our research expertise and analysis to support governments across Australia to leverage our battery industry’s competitive advantage and make the most of the recent and significant global economic, industrial and political shifts.”

The full ‘Charging Ahead’ report can be read here.

FBICRC acknowledges BASF, IGO, South32 and Calix as sponsors, as well as Accenture, who authored the report.

Image credit: Future Battery Industries Cooperative Research Centre.