The Australian Government has announced a $35 million deal with Sterling Energy Group under the Home Energy Upgrades Fund (HEUF), making it cheaper for Australian households to install solar and home batteries.
The deal will cut the cost of household energy upgrades, helping Australians save around $1,100 each year on energy bills.
Related article: Plico stablises WA grid for both minimum and peak demand
Delivered through the Clean Energy Finance Corporation (CEFC), the funding will allow Western Australian Starling Energy Group’s retail brand Plico to expand discounted loans for rooftop solar, home batteries, and access to a virtual power plant (VPP) to all states and territories.
A VPP is a digitally connected network of household energy assets such as solar panels and batteries that work together to deliver reliable, sustainable power to the grid during periods of high demand.
Starling Energy Group estimates that households accessing Plico’s solar, battery, and VPP offerings could save more than $1,100 annually on energy costs, with additional annual savings between $130 and $240 over ten years with CEFC backing.
Assistant Minister for Climate Change and Energy Josh Wilson said the simple, flexible, and cost-effective clean energy technologies are helping everyday Australian households bring down their energy bills for good.
“As older coal-fired power comes to end-of-life, technology like VPPs are key to ensuring we maintain an agile and responsive energy system that benefits all Australians,” Wilson said.
“With the highest per capita installation of rooftop solar in the world and the new Cheaper Home Battery program already increasing home storage by 50% in the first four months, Australians are leaning into our great comparative advantages when it comes to sunshine, innovation, and smart policy.
Plico members receive VPP credits when their VPP is required to supply additional power to the grid. Homeowners with existing solar battery systems can also join the VPP service to benefit from generating, storing and sharing energy.
Related article: Stockland and Plico partner on new home VPP initiative
“As Australia transitions to a more decentralised and decarbonised energy system, new consumer energy models like VPPs are essential. By tapping into the dispatchable energy capacity of households, coordinated technologies like rooftop solar, home batteries and other consumer energy resources can help stabilise the grid, reduce energy costs, improve system reliability, and maximise the value of renewable energy investments,” CEFC CEO Ian Learmouth said.
“This investment supports long-term energy system efficiency and highlights the role of smart, flexible technology in delivering better outcomes for both consumers and the grid.”
