The New South Wales Government has announced new incentives to make household batteries more accessible and affordable for residents.
Households and businesses with solar panels on their roofs will be able to buy a cheaper, subsidised battery to store solar energy generated when the sun is shining. This will help get the most out of their solar, by allowing them to use it around the clock. It will also reduce their energy bills and boost the reliability of the state-wide electricity grid.
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The new incentive is part of the Peak Demand Reduction Scheme and includes:
- Between $1600 and $2400 off the up-front installation cost of a household battery for homes and business with existing solar.
- For homes and businesses wanting to install solar, the incentive will be considered in the quote for a new solar and battery system installation.
- A $250 to $400 incentive for connecting a battery to a Virtual Power Plant. It can be claimed a second time, three years on.
By connecting batteries in Virtual Power Plants, households and businesses can collectively share capacity across the energy grid.
The incentives will be available from 1 November 2024 and will be accessed through approved suppliers, which will become accredited over the coming months.
NSW Minister for Climate Change and Energy Penny Sharpe said, “More than 1,000,000 NSW households have solar panels on their roofs and adding a battery will see them benefit around the clock, not just when the sun is shining.
“We are bringing down the upfront cost of batteries for households and businesses to make them more accessible.
“This is a targeted action to support those with solar to take the next step to lowering their bills by using renewable energy. It also supports the state’s transition to renewable energy.”
Rewiring Australia executive director Dan Cass endorsed the decision, saying, “Incentivising households and businesses to take up batteries means more cheap solar power in the grid and reduces our reliance on harmful fossil fuels.
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“Increasing the growth rates of distributed solar and batteries is the fastest way to reduce peak demand and shore up energy reliability as old coal-fired power stations retire.
“Offering this incentive as part of the Peak Demand Reduction Scheme will remove the financial barrier of household batteries for many households, helping more NSW residents reduce their energy bills, lower emissions and improve reliability.”
