The Cheaper Home Batteries Program comes into effect today, July 1, with the federal government offering approximately 30% off the upfront cost of a small-scale battery for homes, businesses and community groups.
Pairing a battery with a rooftop solar system could almost double a household’s savings, with up to $2,300 less per year on power bills for the average family compared to $1,500 with solar only.
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Electrification advocacy group Rewiring Australia said adding a battery to an average home would generate about $1,000 a year in savings in conjunction with rooftop solar and all-electric appliances.
“The upfront cost of batteries is a significant barrier for people, but we know from our own research that the desire to install them is high. This policy is a crucial step towards helping people access this bill-saving technology,” Rewiring Australia founder and chief scientist Dr Saul Griffith said.
The adoption of batteries will not only help people reduce their energy bills, but it will also improve grid stability.
“If just two in 10 Australian homes installed batteries, the collective on-demand peak reduction output could be three times that of the country’s largest coal power station, or nearly double that of the Snowy Hydro 2.0 scheme,” Rewiring Australia CEO Francis Vierboom said.
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“This is an important step in helping all Australians harness the power they can generate themselves, by being able to store it themselves. This just doesn’t help those with fully electrified homes, it helps the grid more broadly.
“The switching on of home batteries as part of this program is an important milestone. But we are keen to work with governments to do more to improve access to this kind of technology to reduce energy bills for low-income households and renters,” Vierboom said.
