Rewiring Australia says the expansion of the home battery subsidy is a positive step, but accessible finance will be critical to ensure lower power bills are shared across the community.
The Federal Government yesterday announced an expansion of its Cheaper Home Batteries program, which provides an upfront discount on eligible home battery systems to reduce installation costs for households and small businesses.
Rewiring Australia CEO Francis Vierboom has welcomed the expansion while highlighting the need to ensure more households are able to participate as rebates reduce over coming years.
“This announcement reflects the growing role household batteries play in an energy system increasingly powered by renewable generation,” Mr Vierboom said.
“While it’s a pleasing development, upfront cost remains a major barrier, especially for lower-income households, renters and people living in apartments.
“Discounts should be complemented by accessible finance such as Rewiring Australia’s proposed Electrify Everything Loans Scheme, which goes a step further by providing government-backed, low-cost finance that doesn’t have to be repaid until the home next sells, so households can install batteries, solar and other electrification upgrades without worrying about repayments.
“This approach allows households to benefit from electrification without large upfront costs and, unlike time-limited subsidies, provides an ongoing pathway so the transition is not restricted to those who can already afford it.”
Mr Vierboom said the expanded program could also be strengthened by ensuring the scheme supports a wider range of households and technologies.
“This includes standalone batteries for apartments without rooftop solar, as well as vehicle-to-grid equipment which allows electric vehicles to function as household and grid storage,” he said.
“Australia already produces large amounts of cheap solar power during the day and batteries allow households to store that energy and use it when it is most valuable, reducing reliance on expensive peak power.
“Taken together, batteries, electrification and accessible finance allow households to use more clean solar energy, reduce fossil fuel use and will deliver lasting cuts to both emissions and power bills.”
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