Battery Bonanza Is Being Sparked by Coal’s Exit in Australia

Australia’s rapid shift from coal-fired power to cleaner alternatives is underwriting a boom in battery projects able to store solar and wind energy.

The country has at least 250 planned battery developments with a potential capacity of almost 130,000 megawatt-hours, a pipeline that’s second only to China, data compiled by BloombergNEF show. While Australia still relies on coal for more than half of its electricity generation, many major plants are set to close in the next decade.