The NSW Government will launch a new incentive to make household batteries more accessible and affordable for NSW 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 statewide electricity grid.
The new incentive is part of the Peak Demand Reduction Scheme and includes:
- between $1,600 and $2,400 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, 3 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.
The expansion of the scheme follows extensive consultation with companies who specialise in the orchestration of household batteries, like Reposit Power in the Blacktown electorate.
Information on the NSW Government household battery incentive program is available online: Incentives for residential batteries
Quote attributable to Minister for Climate Change and Energy Penny Sharpe:
‘More than one million 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.’
Quote attributable to Member for Blacktown Stephen Bali:
‘This is a fantastic initiative for the households and businesses of western Sydney.
‘Rooftop solar is already so popular and I know this saving will help people bring down their power bills and contribute to reducing greenhouse gas emissions.’
Quote attributable to Reposit Power CEO Dean Spaccavento:
‘The NSW Government’s expansion of the Peak Demand Reduction Scheme to include household batteries is a win-win for residents and the electricity grid.
‘Home batteries are now playing a crucial role in a cleaner, more secure energy future for NSW and earning money for their contribution.
‘Homeowners can maximise the benefit they get from a battery system at their home by shopping around for deals that offer guaranteed bill reductions for at least 5 years.’