Australia’s energy system is under-going a transformational shift. In the first three months of 2024, wholesale energy prices fell even as demand rose. This was underpinned by an increase in clean energy and the declining costs of grid scale lithium-ion batteries. (AEMO, Quarterly outlook April 2024).

Around Australia industry and government are positioning to be clean energy superpowers. Tasmania has a legitimate claim to be an existing clean energy superpower. The island runs on 90-100% clean electricity, and has claimed net-zero status under the United Nations Framework Convention on Climate Change.

The May 14 budget announcement by the Albanese Labor Government included a $22.7 billion Future Made in Australia package, which marks a significant moment for Australian manufacturing and technology. Particularly noteworthy is the commitment of over $500 million towards the Battery Breakthrough Initiative, aimed at expanding Australia's battery manufacturing capabilities.