A Greens plan to support battery storage in Western Australia could benefit 120,000 WA households and thousands of businesses within five years.
The proposed scheme would consist of a 50 per cent tax rebate of up to $5000 to install battery storage. Households on less than $80,000 year could also claim $5000 per household; declining to $1,000 by 2021.
Businesses would be able depreciate commercial battery storage assets over three years rather than 15 years*. Up to 3000 WA businesses could be supported by the scheme.
The Greens say the initiative would kick-start the battery storage industry in WA, drive down battery costs and slash power bills.
“Battery storage will revolutionise our energy system, giving power back to people, to reduce their energy bills and to tackle global warming,” said Greens candidate Tim Clifford.
“WA is one of the ripest places in the world for battery storage uptake due to our high electricity prices, relatively cheap PV and high solar radiation.”
The grant is part of the Greens’ Energy 2030 plan (PDF) for Western Australia, a vision for 100% renewable electricity in the state by 2030 that the party says will have zero negative impact on power bills.
Currently, around 9% of WA’s power comes from renewable sources – which is much lower than the global average.
Energy 2030 would also create a jobs bonanza – 151,000 – 156,000 jobs to 2030, or about 12,000 new jobs each year. This would be more than the number of people employed in WA’s entire mining industry at the height of the resources boom.
The battery scheme would cost $290m in Western Australia over five years. The Green propose it be co-funded federally from the removal of fossil fuel subsidies, and from ” numerous savings” the Greens have identified in Western Australia.
The proposed energy storage grants scheme for WA is based on a national battery incentive the party tabled last year.
*Currently, small businesses throughout Australia may be able to claim a 100% tax deduction on battery system and solar panel purchases through incentives announced in Federal Budget 2015.
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