What Major Renewable Energy Projects Are Coming?
While the conversation around energy can often focus on the negatives, plenty of positives are already underway. Major investments in renewable energy across Australia promise significant improvements, not only in terms of environmental benefits, but also in price stability and reliability for Australian businesses. These new developments will shape the future of our energy infrastructure.
Long-Duration Storage Projects
One of the biggest game-changers for the future of renewable energy is going to be our ability to store it. Critics of renewables have long cited our inability to store the energy created during high-generation periods. This is being remedied with the introduction of several new long-duration energy storage projects.
Recently, AEMO Services awarded contracts for over 1 GW and 13 GWh of long-duration storage capacity across New South Wales, marking Australia's largest-ever investment in energy storage. Projects like these—particularly pumped hydro and battery energy storage systems—store excess renewable energy generated during low-demand periods and release it when demand spikes.
The benefits of this are enormous: reduced reliance on coal and gas during peak times, greater stability in the energy grid, and protection for businesses against volatile energy prices. By smoothing out the supply of renewable energy, these projects will help ensure that businesses can access affordable and reliable power exactly when they need it.
Wooreen Battery Energy Storage System (BESS)
Another exciting addition to Australia's renewable energy future is EnergyAustralia's Wooreen Battery Energy Storage System (BESS), which recently broke ground in Victoria’s Gippsland region. With a capacity of 350 MW, Wooreen BESS will have enough storage to power approximately 230,000 homes for four hours at a time, significantly enhancing energy security across the region.
To put this into perspective, 350 MW is roughly equivalent to the power produced by a medium-sized coal-fired power station—demonstrating how battery projects like Wooreen play a key role in replacing traditional energy generation with sustainable alternatives.
Community Battery Initiatives
Smaller-scale projects are also having a meaningful impact and will continue to do so into the future. ARENA's Community Batteries Program is rolling out more neighbourhood batteries designed to store excess solar energy generated by households, making renewable power accessible even after the sun goes down.
These batteries typically support between 50 and 200 local homes and small businesses per unit, significantly reducing reliance on traditional grid sources. As a tangible benefit, a community battery can help lower electricity bills by up to 30% for connected households and businesses while creating a stronger, more resilient local energy network.
All of these projects, both great and small, are helping to secure our energy supply and help us to get much more usage out of the renewable energy infrastructure that already exists.
What Government Incentives Are Available To Businesses?
We’ve spoken about the larger projects being initiated and how they may help your business — but what’s being done to help businesses secure their own energy future? This is where government incentives have a big role to play.
Australian businesses have a real opportunity to lower their energy bills by tapping into government-backed renewable energy incentives. Two key agencies leading this support are the Australian Renewable Energy Agency (ARENA) and the Clean Energy Finance Corporation (CEFC).
ARENA primarily provides funding for renewable energy projects, offering financial support through grants that significantly reduce upfront costs. CEFC complements this by providing low-interest loans tailored specifically for businesses adopting clean technologies or investing in energy efficiency upgrades. On top of this, businesses investing in renewable energy projects might qualify for various tax incentives, subsidies, and accelerated depreciation schemes depending on the project and the state you’re in.
Why Renewable Energy Matters for Business Sustainability
The urgency of transitioning to renewable energy has never been clearer, particularly given the recent volatility in global energy markets such as those caused by the Russia-Ukraine conflict. Businesses crave financial stability; the switch to renewables—along with the battery infrastructure to support them—is a path towards exactly that.
This is all leading to real opportunities for businesses to cut their costs, improve their sustainability, and achieve a degree of energy independence with the help of renewable energy investments.
To discover how your business can benefit directly from renewables, get started with a free energy assessment from our team of experts today.
