Can bidirectional charging reduce energy costs in Australia?

Bidirectional charging has the potential to become one of the largest forms of flexible energy storage in Australia and to materially reduce electricity costs for millions of Australians and accelerate national emissions reduction.

How many EV chargers are there in Australia?

In April 2023, the federal government announced funding of $39.3 million to help deliver 117 EV chargers on key national highway routes across Australia, at an average interval of 150 kms and connecting all capital cities.

How many EV chargers will Australia need by 2033?

To service this demand, Australia needs to increase its public charging capacity by eight-fold, requiring 27,500 new public EV chargers by 2033. 5 Australia has already been accelerating the rollout of EV charging infrastructure.

How much will Australia spend on electric vehicle charging infrastructure?

In the Federal Budget for FY 2024-25, the Australian Government will provide $154.5 million to implement the recently introduced New Vehicle Efficiency Standard. This includes $60 million over four years from 2024 to support the installation of electric vehicle charging infrastructure at automotive dealerships and workshops across the country.

Why are energy companies investing in battery infrastructure?

Like governments, energy companies are also investing in battery infrastructure, to help strengthen Australia’s energy grid. Earlier this year, Synergy began construction on Australia’s second-largest battery project to date, the 500MW Collie Battery Energy Storage System (CBESS) in Western Australia [ii].

What is Australia's current storage capacity?

The current climate Australia’s current storage capacity is 3GW, this is inclusive of batteries, VPPs and pumped hydro. Current forecasts by AEMO show Australia will need at least 22GW by 2030 – a more than 700 per cent increase in capacity in the next six years.