Billions to gain if energy relief budget spend focuses on electrification
Rewiring Australia broadly welcomes the government’s commitment to helping households tackle the cost-of-living crisis, but is urging for an investment in longer-term solutions.
The not-for-profit has argued a multi-billion dollar spend to alleviate bills would generate higher returns if it was used to help people electrify their households.
“People are drowning in bills, and energy bills keep going up. We need to sort out our energy supply issue, and we know electrification has the potential to save us trillions of dollars as a nation,” Rewiring Australia CEO Francis Vierboom said.
“Our research shows that if we invested in helping people switch from fossil fuel appliances, and ran their home using solar and batteries, we would make a much higher return on the energy bill relief spend,” Francis Vierboom said.
Rewiring Australia is calling for a flexible loan system which would help people transition to electric appliances and systems, to secure cheaper and cleaner energy for themselves.
“This isn’t pie in the sky stuff. We have a flexible loan for students that allows people to invest in themselves to be better off in the future. Why can’t we do the same thing for people’s lifetime savings on energy,” Francis Vierboom said.
Calculations by Rewiring Australia show that by investing $5.3 billion (the amount spent on energy rebates) in a flexible loan system would support 1 million homes to fully electrify, creating $2.1 billion a year in savings - meaning the investment would put more money in consumers’ pockets within three years.
“We have everything to gain, but also a lot of savings to lose by ignoring this long-term solution. Let’s end bill shock,” Francis Vierboom said.
Rewiring Australia is also calling for the federal government to focus on harnessing solar power here, rather than spending $60 billion each year on importing fuel.
“We can generate our own energy here, and we should. It’s time to keep our money in our local communities, and spend less on bills, which will mean there’s more to go around for local businesses,” Francis Vierboom said.
“Our energy system is not fair, but by electrifying Australian homes we can create long-term bill relief, cut emissions and reduce our exposure to harmful gasses, and support local industry through trades people and installers. It’s a win, win, win situation.
“Good policy and leadership from the federal government is needed for this future to be realised,” Francis Vierboom said.
Rewiring Australia also welcomes the $900 million commitment towards a national licensing scheme for electrical trades workers, removing red-tape and allowing tradies to work in different jurisdictions more easily.
Media contact - Kathleen Ferguson - 0421 522 080