Successful bid price of LFP battery system project in Australia 2030

Where are LFP batteries made?

LFP battery production capacity and intellectual property resides almost exclusively in China (>99% of global LFP). Avenira has partnered with Aleees, for the intellectual property rights to produce LFP in Australia.

What is the future of battery technology in Australia?

Two-hour grid-scale batteries are currently the most prevalent technology in Australia as project owners mainly target the high-value frequency control and ancillary services (FCAS) market. Battery module pricing is expected to decline by more than 40% in Australia and South Korea by 2032 for both LFP and NMC chemistries.

What will Australia's biggest battery project deliver?

The projects, which include one of the biggest batteries to be built in Australia in the heart of the Latrobe Valley, will deliver more than 1,000 megawatts of capacity and significantly more than the 600 MW sought in the pilot tender.

Will battery prices drop in 2032?

Wood Mackenzie expects the commodity price declines and technology improvements to also reduce battery module prices in the coming years. By comparison, battery system costs for grid-scale storage in Australia are 30-40% higher than China – China is the cheapest region, with prices expected to drop 50% by 2032.

Where can I find information about big battery projects in Australia?

For more information about big battery projects see Renew Economy’s Big Battery Storage Map of Australia. Giles Parkinson is founder and editor-in-chief of Renew Economy, and founder and editor of its EV-focused sister site The Driven. He is the co-host of the weekly Energy Insiders Podcast.