The Victorian state government will provide half price solar batteries for 10,000 households if re-elected in November.
The $40 million energy storage plan is part of the Andrews Government’s Solar Homes initiative. The subsidised solar program has received more than 9,000 applications since it opened on August 19.
Eligible homeowners will therefore save up to $4,838 on their solar battery installation. A typical 11 kWh battery could reduce electricity bills by around $650 per year.
If re-elected the Labor government plans to invest a further $10 million. This would help the grid transition to a larger share of renewable energy over the next decade.
Solar batteries help households slash power bills
Half price batteries will be supplied to households which already have solar installations.
The 50 per cent rebate will be capped at $4,838 in the first year. This will then taper down to $3,714 by 2026 as battery prices fall.
The solar battery program will target growth areas with a higher density of solar powered homes. Solar owners can then share their stored power through local microgrids.
Solar Homes scheme boosts Victorian renewable energy
The $11.34 billion Solar Homes initiative covers three areas.
- Half price solar panels for 650,000 households.
- Half price solar batteries for 10,000 homes already fitted with solar panels.
- A $1,000 rebate off the cost of solar hot water for around 60,000 homes.
The Solar Homes program is open to Victorian homeowners with household incomes up to $180,000. Homes must be valued at less than $3 million.
Six new wind and solar farms will also be built in regional Victoria as a result of the state’s ‘reverse auction’ for renewable energy generators in 2017.
The new wind and solar projects should therefore generate nearly 1,000 MW of clean power. This exceeds the 650 MW renewable energy target for Victoria.
Safety first for Solar Homes
A new independent agency called Solar Victoria will be set up to work with industry, regulators and training organisations.
Around $9 million will also be spent on a Solar Homes accreditation program. This will also ensure solar energy systems are fitted by approved installers like Energy Matters.
Clean Energy Council (CEC) accreditation also ensures solar installations are carried out safely and efficiently.
To find out more about the Solar Homes scheme visit our Victorian Solar Homes loan page.