Save thousands of dollars with the new solar battery subsidy
The Federal Government’s discount of around 30 per cent on solar batteries kicks off on 1 July, but the benefit will still apply for batteries installed now.
Batteries bought and installed before the official start date of the Government’s Cheaper Home Batteries Program will be eligible for the subsidy if they’re switched on after 30 June.
The $2.3 billion initiative, delivered by the Small-scale Renewable Energy Scheme (SRES), applies to homes, businesses and community facilities, and includes new solar installations and batteries added to existing systems. The program will run until 2030 with rebates reducing over time.
RAA Head of Solar Battery and EV Charging Andrew Howard says thousands of South Australian home and business owners are set to benefit from the new subsidy.
“The subsidy may save you around $5,000 on a 13.5 kWh battery or around $3,000 on an 8 kWh battery,” Andrew says.
“That’s a rebate of about $370 per kilowatt hour of usable battery storage.”
To comply with the program, solar systems must be approved by the Clean Energy Council and fitted by accredited installers. The subsidy covers one battery per household for the first 50kWh of the battery’s useable capacity, but the battery size can be from 5-100kWh.
Most home solar systems generate around 5-10 kW of power, which means a 5-13.5 kWh battery suits the average household. Any State Government incentives will still apply, helping make solar even more affordable.
Batteries will need to be Virtual Power Plant (VPP) compatible, but there’s no requirement to connect to a VPP. A VPP is a network of household solar batteries that work together to store power, effectively forming a mini power plant.
Under the State Government’s Retailer Energy Productivity Scheme (REPS), households who connect to an approved VPP can apply for a rebate on the cost of the battery.
“With significant state and federal subsidies available, this might be a good time to consider installing solar and battery and start saving on your power bills,” Andrew says.