Home Batteries To Get 30% Cheaper, As Labor Announces New $2.3b Policy

Minister for Climate Change and Energy Chris Bowen has announced this greeting a caller argumentation by nan Australian Labor Party those targets Home Battery Storage for Australians.

The caller argumentation would trim nan costs of a ‘typical’ installed artillery by 30%.

Home Storage Batteries let you to cod power from star during sunlight hours, and timeshift that to nan hours you request it. Most family power usage spikes astatine 5PM-10PM arsenic we return from work, lights, TVs, nan oven, heating/cooling, dishwasher etc. By consuming powerfulness from nan battery, you get to debar drafting powerfulness from nan grid astatine it’s astir costly time, redeeming you money.

Modeling shows that this would lead to astir 1 Million caller Home Batteries being installed astatine Australian homes successful nan adjacent 5 years.

With much than 1 successful 4 homes (4 Million) adding star to their tile successful nan past decade, galore are fresh customers for artillery storage, for nan correct price.

This brings america to nan meaning of a ‘typical’ installation.

Let’s ideate a location purchases a location retention artillery for illustration a Tesla Powerwall, Sungrow Battery, SolarEdge Home Battery, BYD Battery Box, aliases SonnenHome. These batteries typically costs betwixt $6,000 and $15,000 installed, depending connected nan complexity.

Complexity comes from challenges for illustration nan region betwixt nan installation location to nan metre box, and if you person nan space, circuit breakers etc. Finally there’s grid relationship support to woody pinch arsenic well, arsenic power companies whitethorn not person capable transformers successful spot astatine nan section level to woody pinch 100% of homes moving to solar+battery.

If your circumstances mean you are eligible, past a 30% simplification from nan Federal Government could fundamentally alteration nan economics of location artillery retention for galore Australian households.

Labor predicts that by adding artillery storage, could trim reduce power bills by up to 90%. It is worthy noting that Labor’s forecast for power costs reductions successful nan past person been challenged, forecasting astatine nan past predetermination that households would prevention $275 a year, which hasn’t materialised.

This programme is worthy $2.3 Billion to nan budget.

What is important is nan immediacy of this program, scheduled to commencement arsenic soon arsenic July 1 this year.

Being a national program, we’d expect that this would activity successful summation to authorities incentives.

In Victoria, nan basal maths would spell thing for illustration this..

• Purchase a Tesla Powerwall 3 for $15k ($11,900 PW3 + gateway $1,700 + installation).
• 30% national costs reduction, reduces nan costs to $10,500.
• Take a $8,800 liking free indebtedness from Solar Victoria (assuming you meet nan elibility criteria
• Result: $1,700 retired of pocket

In this scenario, purchasing a location retention artillery is acold much approachable and yes, you still person nan repayments connected that interest-free loan, but that should beryllium offset by nan dramatically little power bills.

If you did determine connected Tesla’s Powerwall, you’re getting a artillery pinch 10 years warranty, and if you decided to subordinate their Virtual PowerPlant, you’ll get an further 5 years of warranty, making nan ROI easy positive.

Having a artillery opens nan doorway to lending your powerfulness to your neighbours via nan VPP, up to 50 times a year. VPP customers person $220 (incl. GST) successful Grid Support Credits each year, per Powerwall.

If you’re successful NSW, eligible households tin person up to $2,400 disconnected nan value of nan artillery for a 4kWh aliases larger artillery system.

In NSW, nan costs of a location artillery retention solution could be..

• Purchase a Tesla Powerwall 3 for $15k ($11,900 PW3 + gateway $1,700 + installation).
• 30% national costs reduction, reduces nan costs to $10,500.
• $2,400 authorities incentive.
• Result: Out of pouch disbursal of $8,100.

While not arsenic appealing arsenic nan Victorian offer, this does bring it good beneath nan $10k mark. For homes spending $2-3k per twelvemonth connected energy, they could spot a affirmative ROI successful 3-5 years.

For much accusation sojourn nan links below.

• Victorian Solar Homes Program – https://www.solar.vic.gov.au/solar-battery-loan
• NSW Battery Rebate Scheme – https://www.energy.nsw.gov.au/households/rebates-grants-and-schemes/household-energy-saving-upgrades/install-battery
• Tesla Powerwall 3 – https://www.tesla.com/en_au/powerwall
• Tesla VPP – https://save.energylocals.com.au/TeslaEnergyPlan-TOU