According to the South Australian government 40,000 South Australians can access grants of up to $6,000 from the Marshall Government to help pay for the installation of a home battery system.
While the home battery subsidy is for batteries only, households will be able to apply for finance. This will be made available through the Commonwealth Government’s Clean Energy Finance Corporation (CEFC) to purchase new or additional solar panels as well as the battery system.
The $100 million in State Government subsidies have been matched by $100 million in finance from the Clean Energy Finance Corporation which will provide low-interest loans for the balance of the battery and new solar if required.
Households can visit a dedicated Home Battery Subsidy website, gather all your home information and apply for the subsidy.
Marshall Government said this $200 million investment is a central plank of his government’s plans to cut the price of electricity for South Australian households and businesses.
“Households will enjoy savings of thousands of dollars on their electricity bills over the life of the battery,” Marshall Government said.
“This $200 million investment will deliver more affordable, reliable energy to South Australian households.” The subsidy will be scaled in line with the size of the home battery system purchased with Energy Concession holders able to access a higher subsidy. The subsidy is expected to go down over time and is capped for everyone at $6,000 per battery system installed.
“We are also creating jobs and attracting new business to our state by giving priority to qualified system providers who commit to installing approved battery systems that are manufactured or assembled in South Australia,” Marshall Government said.
These providers will be afforded a nine-week priority period meaning their products will be exclusively available to households.
“The Home Battery Scheme is another example of our commitment to deliver more jobs, lower costs and better services,” said Premier Marshall.
Minister for Energy and Mining Dan van Holst Pellekaan said the scheme will benefit all South Australians.
“Not only will up to 40,000 households enjoy reduced electricity prices by purchasing a home battery system, but the installation of these systems will reduce demand on the network,” said Minister van Holst Pellekaan.
“This will ultimately result in lower prices for all South Australian households”.
Australian lending company RateSetter has been chosen to administer the subsidy and finance provided from the federally owned Clean Energy Finance Corporation (CEFC).
CEFC CEO Ian Learmonth said: “We’re pleased to be working with the South Australian Government and RateSetter to help more households take advantage of this program.
“Home battery solutions, which help householders get more out of their rooftop solar PV, can help cut energy costs and reduce carbon emissions – making both good economic and environmental sense.”