New Government Initiative Makes Solar Batteries More Affordable for Australians
Starting next week, Australians can take advantage of a new federal government initiative that will offer a discount on the installation of solar batteries, aimed at making renewable energy more accessible. Recent reports highlight the potential for households to significantly reduce their electricity bills, with some homeowners achieving zero bills after investing in solar battery systems.
One particular case is that of Anthony Barrett, a lighting designer from Stanmore, who has reported substantial savings after installing solar batteries. Over the years, Barrett has invested around AUD 30,000 in a comprehensive solar system, which includes solar panels, inverters, batteries, a heat pump, and the electrification of his gas kitchen. Reflecting on the financial outlay, Barrett acknowledges the high initial costs but hopes to recoup these expenses through the savings on their previous energy bills, which ranged from AUD 2,000 to AUD 2,800 annually.
Barrett’s family made the switch to solar batteries approximately two years ago, claiming they are now "thousands ahead" in savings and earning more than AUD 1,000 per year from credits instead of incurring electricity bills. With two 10kWh batteries costing around AUD 21,000, Barrett estimates it will take about seven years to recoup the investment assuming they continue to save. He projects the batteries will last longer than their 10-year warranty, estimating a life span of about 12 years.
The impending Cheaper Home Batteries Program, launching on July 1, offers households and community groups a 30% discount on battery installations. This program, valued at AUD 2.3 billion, was introduced to stimulate the uptake of battery technology, allowing Australians to harness and store solar energy more efficiently.
Research released by Brighte indicates that the significant upfront costs deter about 50% of Australians from investing in energy upgrades. The Smart Energy Council has endorsed the new initiative, suggesting it could help millions reduce their energy expenses. With about four million homes in Australia already using solar power, the scheme aims to enable storage of energy for late use—particularly beneficial during peak pricing periods.
According to government analyses, rooftop solar installations coupled with battery systems could lead to savings of up to AUD 1,100 per year for existing solar users and up to AUD 2,300 for those installing new systems. Despite the advantages, some states are scaling back solar battery incentives, no longer offering rebates as seen in New South Wales and Victoria.
As Barrett notes, the financial relief from their solar investment is increasingly important amid rising living costs. “Life in general is not cheap, it’s not getting any cheaper,” he remarks, emphasising that while prices rise, his family no longer has to worry about electricity and power bills.
In summary, as the federal government’s Cheaper Home Batteries Program takes effect, more Australians may find it feasible to invest in solar technology, potentially leading to significant long-term savings and greater energy independence.
