Last year Australia led the world in the installation of residential battery storage systems in terms of power capacity.

That’s according to a paper released by the nation’s Chief Scientist Dr Alan Finkel, who said this happened “on the back of high penetration of household solar rooftop panels“.

He said there are now 1.8 million buildings in Australia fitted with rooftop solar panels, with the majority of these being residential.

Dr Finkel said energy storage would be crucial to the future of Australia’s electricity network – he noted outside lithium-ion batteries, there is also significant interest in pumped hydro storage projects.

He added Australia is well-placed to be a leader in exporting renewable hydrogen, which is increasingly being used to power low carbon forms of transport.

The Chief Scientist said: “We are entering an era of rapid technological transformation in electricity generation and usage.

“Energy storage technologies can not only help us benefit from the transition but to prosper through the creation of new industries, new jobs and opening up export markets.”