Australian households could save around $1,000 a year by switching on a home battery in July
Some Australian households are set to save around $1,000 a year as the Albanese Labor Government’s home battery subsidy takes effect.
Labor made an election promise to subsidise the cost of installing home batteries by 30%, with the policy set to run until 2030.
Rewiring Australia’s research has found adding a battery to an average home would generate about $1,000 a year in savings, when working in conjunction with rooftop solar and all-electric appliances.
“The upfront cost of batteries is a significant barrier for people, but we know from our own research that the desire to install them is high. This policy is a crucial step towards helping people access this bill-saving technology,” Founder and Chief Scientist of Rewiring Australia Dr Saul Griffith said.
The adoption of batteries will not only help people reduce their energy bills, but it will also improve grid stability.
“If just two in 10 Australian homes installed batteries, the collective on-demand peak reduction output could be three times that of the country’s largest coal power station, or nearly double that of the Snowy Hydro 2.0 scheme,” Rewiring Australia CEO Francis Vierboom said.
“This is an important step in helping all Australians harness the power they can generate themselves, by being able to store it themselves. This just doesn't help those with fully electrified homes, it helps the grid more broadly.
“The switching on of home batteries as part of this program is an important milestone. But we are keen to work with governments to do more to improve access to this kind of technology to reduce energy bills for low-income households and renters,” Francis Vierboom said.
Media contact: Kathleen Ferguson - 0421 522 080
