Victoria s electricity storage investment costs

4 FAQs about [Victoria s electricity storage investment costs]

How much does electricity cost in Victoria?

Electricity Average Spot Price: Victoria: Manimum data is updated daily, averaging 10.500 AUD/MWh from Jan 1999 (Median) to 17 May 2025, with 9634 observations. The data reached an all-time high of 461.420 AUD/MWh in 14 Jul 2022 and a record low of -1,000.000 AUD/MWh in 22 Jan 2025.

How much does a new energy storage strategy cost?

The draft strategy is open for public consultation as it goes through its five year update, and will be tabled in parliament later this year. The full suite of energy storage recommendations may be difficult for the state to swallow, coming as they do with a total price tag between $346 million and $587 million.

Should Victoria offer a solar battery loan program?

With Victoria’s Solar Battery Loans program running out this year, the state should create new support for home batteries and provide incentives for people to join a virtual power plant, the draft report says.

How long can a state store electricity?

The state should be supporting long duration storage options that can supply electricity for eight hours, with options including pumped hydro, compressed air as is being installed in Broken Hill, molten salts and advanced battery systems.

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