IT’S TIME TO BACK HOME BATTERIES: HOME BATTERY INCENTIVE WOULD REDUCE COST OF LIVING

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Charging an electric car in home,sustainable transportation concept.

A proposed national incentive scheme of up to $6500 per household to install and integrate batteries into the grid would deliver substantial reductions on electricity bills for owners and drive additional value for all households if implemented.

Modelling by energy industry consultancy, Oakley Greenwood, shows that households with a standalone battery could save $900 or more per annum on their energy bills. Orchestrated battery systems that are integrated into electricity markets go even further, providing savings of $1150 or more per annum to owners and system-wide net savings of $190 million.

Clean Energy Council Director of Distributed Energy, Con Hristodoulidis, said that the implementation of a Home Battery Saver Program to complement Australia’s world-leading uptake of rooftop solar would deliver massive benefits for all Australian energy customers and become a key pillar of the energy transition.

“The success of rooftop solar in Australia has been driven by a strong uptake of Federal rebate and incentive schemes over the years, while similar programs for home batteries recently implemented in select states and territories have already proven popular,” he said.

“A national scheme is now needed to maximise the benefits of orchestrated home batteries for consumers and this has to be designed to deliver the highest quality products and meet strong safety standards.”

Residential battery storage provides owners with flexibility as to when to generate, use and store electricity generated by rooftop solar. Orchestrated residential batteries have the added advantage of being able to trade electricity with the grid at optimal times, increasing consumer savings and supporting the broader energy system.

A Home Battery Saver Program is the missing piece of the puzzle needed to complement the Commonwealth’s expanded Capacity Investment Scheme, Powering Australia plan and solar PV SRES program, all aimed at delivering the lowest cost mix of renewable generation and storage capacity and reaching the Federal Government’s target of 82 per cent renewables by 2030.

Now is the time to back home batteries.

ENDS

Liam Straughan ‘IT’S TIME TO BACK HOME BATTERIES: HOME BATTERY INCENTIVE WOULD REDUCE COST OF LIVING’, CleanenergyCouncil, 6 MARCH, 2024. Available at:  https://www.cleanenergycouncil.org.au/news/its-time-to-back-home-batteries-home-battery-incentive-would-reduce-cost-of-living

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