Subsidies will be available to residents of South Australia who want to purchase home battery systems from next month, the state’s Premier has announced.
On Saturday, the office of Premier Steven Marshall MP announced that more South Australians then ever will have access to “more affordable, reliable, secure energy”, revealing the opening of the Home Battery Scheme.
Up to 40,000 households will be eligible to receive funding towards the cost of home battery storage systems, which are in most cases – although not always – paired with solar PV installations. The state government will provide up to AU$100 million (US$71.22 million) in funding, while the Commonwealth Government (Australia’s national government) has signed a memorandum of understanding (MoU) with South Australian Minister for Energy and Mining Dan van Holst Pellekaan via its Clean Energy Finance Corporation (CEFC) to also provide a funding package, again worth AU$100 million.
The latter CEFC funding is understood to be enabling the additional offering of low-cost loans for solar, storage and related equipment, “competitive, flexible loans where needed, in addition to the subsidies,” Dan van Holst Pellekaan said, through which his administration expects “to be able to further assist households [to] overcome the upfront financial barriers to accessing storage technology”.
As with similar schemes already opened in limited regions of the world including Germany, Japan and latterly California, the Home Battery Scheme will offer assistance for a portion of a system’s cost. In South Australia’s case that will be capped at AU$6,000 per customer. Sample quotes from providers in Australia peg the cost of the likes of Tesla Powerwall 2 and Sonnen’s Eco systems between around AU$9,000 to AU$12,000.
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