2020 Australian Government home battery rebate and interest scheme
Currently, there are many opportunities for those considering installing a solar battery throughout Australia.
Victoria offers a solar rebate scheme called the Solar Homes Program which offers to support Victorian households who opt to install a home battery system. This scheme supplies a maximum discount of $4,174. This rebate can be combined with the Victorian solar panel rebate which can offer up to $1,850.
Currently, there are no home battery interest-free loans but there are for solar panels which match the rebate amount.
If your solar panel system costs less than $3,700 then you will incur no upfront cost. The loan provided by the government is required to be paid over 4 years, either in instalments or all at once.
The total solar battery rebate you earn is subtracted from the upfront cost of the system, this will increase your ROI and your payback period. The main eligibility requirements you must meet are:
Have a solar system already installed that has a minimum capacity of 5kW.
You are the owner-occupier of the home.
The total taxable income of everyone in the home is less than $180,000 per year.
Your home is valued at under $3 million.
You have not partaken in the Solar Homes Program previously.
Rental properties are unfortunately not permitted for the scheme. If you are eligible for the home battery rebate, you must be willing to agree to a free safety inspection under the Solar Victoria Audit program.
New South Wales
The New South Wales government currently has the Empowering Homes program, this scheme allows eligible homeowners to receive interest-free loans for a solar battery installation.
This scheme is eligible for those who live in the Hunter region. However, there is the possibility of the scheme extending to the rest of NSW in the near future. The solar batteries offer clean, reliable, and renewable energy storage, enabling you to reduce your power bill and become more energy independent.
The current loan system gives you two options:
Up to $14,000 towards the installation of a solar PV and home battery storage system (repayable within an 8-year timeframe).
Up to $9,000 towards installing a home battery to an existing solar PV system (repayable within a 10-year timeframe).
The eligibility requirements are:
Live within the Hunter region.
Have a total household income of less than $180,000 per year.
Own and live in your home.
Meet the requirements of the loan conditions (satisfy standard credit criteria and have the ability to make repayments without causing undue financial hardship).
Australian Capital Territory
The ACT government currently has the Next Generation Renewables program. This scheme is set to be valued at $25 million with a total of 36 megawatts of home battery storage to be installed across the region.
This program is supporting 5,000 batteries, to help advance the Australian renewable industry.
The current rebate scheme is set at $825 per kilowatt, to a maximum of 30kW. A typical household with a 5kW solar system would be eligible for approximately $4,000 in funding.
To be eligible you must:
Not have been previously part of the Next Generation Renewables program.
Be connected to the grid.
Have solar panels.
Have an inverter which meets the Next Gen requirements.
Unfortunately, at this time, the Queensland government does not have an active battery rebate and interest-free loan scheme for batteries and solar PV.
The most recent program ended on the 30th of June 2019. However, there is all the chance that another battery scheme becomes available in the future, we will make an update when it does.
The Northern Territory supplies a Home and Business Battery Scheme (HBBS). If you are a homeowner, business, or a not-for-profit organisation, you may be eligible for a grant of up to $6,000 in battery installation.
Only one application can be submitted per household. The requirements are:
To be a registered owner of a residence in NT or
To have a registered business in NT or
To have a not-for-profit or community organisation operating within the NT either through ownership or leasing.
If you have a home and a business, then you may apply once for your home and once for your business.
You can use the funds from the grant to either buy a solar system with a home battery and inverter or a home battery and inverter if you have solar panels already installed.
The minimum requirements for the battery are that it must have a capacity of at least 7kW hours.
Unfortunately, similarly to Queensland, there is currently no home battery rebate scheme in place. However, there may be one in place in the future. We will let you know when they have one active.
South Australia has the highest electricity prices throughout the country, with the average electricity usage rate being 34.59c/kWh. This energy rate makes renewables even more enticing, to rely less on industry energy rates.
The current scheme in South Australia is called the Home Battery Scheme. SA also encourages new and old home battery installations to join the virtual power plant (VPP) program. This will further help you reduce upfront costs and lower your energy bills.
The current subsidy is set to a maximum of $3,000. To meet the scheme requirements, you have to meet the following criteria:
One grant per household.
Residential properties only. You also must be connected to the SAPN Distribution Network.
The battery has to be eligible (e.g. the LG Home Battery range) and needs to be installed by a qualified installer.
You must be the owner of the property or have permission from the owner to install a home battery.
If you are an energy concession holder you are eligible for a subsidy level of $300 per kWh, as opposed to the regular household level of $200 per kWh.
To read about the technological advancement of virtual power plants and how this can help your energy needs, we have supplied an overview of the VPP program.