This report analyses the costs of building a grid-scale battery in Australia (the NEM and WEM). We analyse costs for past projects as well as projections for the future, with comparisons to other countries..
This report analyses the costs of building a grid-scale battery in Australia (the NEM and WEM). We analyse costs for past projects as well as projections for the future, with comparisons to other countries..
GenCost is a leading annual economic report that estimates the cost of building new electricity generation, storage, and hydrogen production in Australia to 2050. Australia’s future electricity system needs a mix of new build generation technologies to remain reliable, secure and flexible – with. .
The first quarter of 2025 was the second best on record for investment in large-scale Battery Energy Storage Systems (BESS) in Australia, with six projects worth $2.4 billion in total reaching the financial commitment stage – delivering an extra 1.5 GW in storage capacity and 5 GWh in energy. .
This has led to multiple gigawatts of grid-scale battery energy storage systems in various stages of development in Australia. Each of them requires significant investment, with millions of dollars at stake and years-long development timelines. As a result, capital expenditure, or capex, is an. .
According to the Clean Energy Council, Australia saw a record-breaking year for large-scale battery storage in 2023, with projects under construction significantly up compared to 2022, and massive levels of new investment. By the end of 2023 there were 27 large-scale battery projects under. .
The Australia energy storage market size reached 4.72 GW in 2025 and is projected to reach 19.81 GW by 2034, growing at a compound annual growth rate of 17.28% from 2026-2034. The Australia energy storage market is witnessing strong growth, driven by the accelerating adoption of renewable energy. .
A new report published by Australia’s Commonwealth Scientific and Industrial Research Organisation (CSIRO) has found that large-scale battery energy storage system (BESS) capital costs have improved the most in 2024-25, falling by 20% year-on-year (YoY). Detailed within the organisation’s GenCost.
