The Labor Government is expected to announce direct financial support to offer reliable electricity supply around the country, including a $200 million battery subsidy for 100,000 Australian homes.
This is the first proposed Federal Government battery subsidy, and is one key project that will increase the volume of renewable energy and battery storage solutions around the country.
This $200 million battery subsidy policy will subsidise the installation of batteries in 100,000 homes so more Australians can store power generated from solar panels. This will not only guarantee consumer savings, reduce dependence on the grid for Australian homes, but also improve reliability and stability.
While South Australia have already implemented a battery subsidy scheme, and battery power has been a heated topic for other state governments around the country, this proposed subsidy from the Labor party is the first movement from a Federal government party towards embracing battery power.
“In the past three years, since the mainstream growth of battery power and storage solutions, there has been large consumer demand for battery power. This has not only been focused on residential storage solutions, but also commercial and has grown further into the property development market,” says Chris Williams, CEO & Founder of Natural Solar.
“There is no doubt interest in renewable energy and battery storage solutions is growing exponentially as all forms of battery power are tried, tested and proven, and as a result, governments are electing to embrace and adopt this technology with the view of making this accessible to all Australian households,” said Mr. Williams.
The Labor Government led by Bill Shorten, estimates that subsidising 100,000 homes would triple the number of battery installations in Australia today.
“At Natural Solar we estimate interest and adoption has grown in the past three years by well over 1200% and as governments encourage growth and increased adoption from homeowners, businesses and property developers, installations will certainly increase nationwide,” added Mr. Williams.
The new scheme to install more batteries in homes is expected to cost $200 million by 2025 b giving a $2000 rebate to households that buy residential power systems including solar panels and batteries.
Bill Shorten has said: “If I’m elected prime minister, I will not sit around and wait for the Liberals and Nationals to stop arguing about whether climate change is real. I will act to lower prices, to cut pollution, to boost renewables and create jobs. A Labor government I lead will be prepared to directly underwrite and invest in cleaner, cheaper power for Australia.”
These costs are based on the SA Power network in Adelaide but prices may vary depending on your circumstances. This comparison assumes a general energy usage of 4000kWh/year for a residential customer on Energy Locals Time of Use Tariff – (TOU – Peak, Off-Peak & Solar Sponge).
The reference price is set by the Australian Energy Regulator (AER) for a financial year in relation to electricity supply to residential customers in the distribution region and is based on an assumed annual usage amount. Any difference between the reference price and the unconditional price of a plan is expressed as a percentage more or less than the reference price. The terms of any conditional discounts are shown, along with any further difference between the reference price and the discount applied if a condition is met, expressed as a percentage more or less than the reference price.