Prime minister Malcolm Turnbull has announced his desire to spend $2 billion on a 2GW pumped hydro scheme in the Snowy Mountains, in a move that will potentially drive a stake through the heart of the fossil fuel generation industry in Australia.

AGL Energy has flicked the switch on its South Australian virtual power plant, a controlled network of home and business battery storage systems that aims to both cut consumer electricity costs and help manage grid stability in the state.

The South Australia government has pressed the fast-forward button on its 100MW battery storage tender, announcing that expressions of interest for the country’s biggest battery storage installation are now open, and will close within two weeks.

In terms of affordability, the Australian battery storage market is quickly moving closer to where it needs to be. While pricing itself is of course the single most important factor in battery viability, retail electricity & rooftop solar system prices are also key – as is the amount of sunlight that tends to shine down. In places where sunshine is abundant, grid electricity rates are high and solar installation prices are low, batteries are likely to make the most sense.