The South Australian Government has announced the start of the Home Battery Scheme, which will provide 40,000 South Australians with grants of up to $6,000 to help pay for the installation of a home 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.
Premier Steven Marshall said that the $200 million investment forms a crucial pillar in the State Government’s push to ease power prices.
“Households will enjoy savings of thousands of dollars on their electricity bills over the life of the battery,” Premier Marshall 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,” Premier Marshall said.
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.”