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THE ACT is aiming to become a centre for distributed solar storage innovation and solutions, thanks to $20 million in funding for a Next Generation Renewables Pilot program.
The program, announced by the ACT Minister for the Environment Simon Corbell, will award up to $600,000 through a competitive grants program for companies installing distributed solar storage in the ACT in 2016.
In total, the program will subsidise 36MW in battery storage, and see renewable energy storage solutions rolled out to 5000 residences in the territory over five years.
“The global battery storage market is predicted to be worth $400 billion by 2030," Mr Corbell said.
"Our own market research indicates that the ACT is an ideal launching pad for both national and international businesses seeking to get a head start in this exciting emerging industry."
"There are a number of Canberra companies that are positioning themselves to take advantage of this significant technological revolution that is coming forward when it comes to battery storage at the household and business level,"
The pilot program will also test regulatory and technical issues around the technology, ensuring that existing electrical safety laws and planning and development laws keep pace with renewable generation and storage technologies.