Investors are increasingly deploying battery storage projects in Australia to capitalize on the country’s highly volatile power market by buying electricity when prices are low and selling when prices are high. This trend reflects a shift in energy infrastructure, with major battery projects replacing previously planned gas peaker plants. Concurrently, Australia’s ambitions to become a leading green hydrogen producer and exporter, exemplified by Fortescue’s agreement to supply Germany’s E.ON with renewable hydrogen, face challenges due to high costs and limited demand. However, new local technologies may help overcome these barriers, supporting the nation’s renewable energy transition.