Australian manufacturers have been offered a total of $50 million in grants and loans by the Western Australia government to boost local production in the midst of the country’s rebate-driven home battery boom.
The new Local Battery Manufacturing Program, which was launched this week, aims to strengthen Western Australia’s manufacturing of home batteries and components through the provision of grants of up to $5 million and low-interest loans.
A total of $30 million has been made available for grants to local battery manufacturers looking to grow their capacity to provide competitive residential battery products. Grants of up to $5 million will be available but must be matched dollar-for-dollar by the grant recipient.
These grants will be made available to existing battery manufacturers for projects that scale-up operations and can be used for the purchase of capital equipment, workforce training, upgrade costs, and engaging business or manufacturing expertise.
Grants of up to $100,000 in matched funding will also be available to businesses for projects related to pre-production activities, including manufacturing of batteries and battery components at scale. Funding can be used for selected feasibility studies, prototype development, and testing and accreditation.
A further $20 million package for low-interest loans will be made available, starting early next year.
“My government’s priority is to diversify Western Australia’s nation-leading economy by becoming a renewable energy powerhouse,” said Roger Cook, premier of Western Australia.
The state’s residential battery scheme has reportedly seen over 4,500 household batteries installed since the program opened in July, although more than 18,000 applications have been received. The Scheme is available to an estimated 100,000 households across the state.
“Our Residential Battery Scheme is the best in Australia, delivering real, ongoing cost-of-living relief through reduced power bills by enabling households to store and use more of their solar energy,” said Amber-Jade Sanderson, state minister for energy and decarbonisation and manufacturing.
“The scheme is equitable, accessible and affordable and brings the benefits of our transition to becoming a renewable energy powerhouse to 100,000 households.
“The Local Battery Manufacturing Program extends those benefits to local battery manufacturers by supporting them to increase capacity to take advantage of increased demand.”
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