Minister for Energy
Home Battery Scheme reducing South Australian energy bills
19 October 2018
The Australian Government is helping the South Australian Government deliver on its commitment to provide more affordable and reliable energy for all South Australians.
Through the Clean Energy Finance Corporation (CEFC), the Australian Government will provide $100 million in low interest loans to support the roll-out of the South Australian Government’s Home Battery Scheme.
The Home Battery Scheme will assist 40,000 South Australian households access state government grants along with loans to pay for installation of home battery systems.
Importantly, the scheme is available to homeowners and renters alike. South Australian energy concession holders will be able to access a higher subsidy, ensuring households on low-incomes are supported to access the technology and lower energy bills.
Following a Memorandum of Understanding signed in September between the South Australian Government and CEFC, we are pleased to announce that RateSetter will deliver the CEFC support.
RateSetter, Australia’s leading peer-to-peer lender, will provide concessional loans where subsidies do not meet the upfront cost of installing a home battery system.
Energy storage increases the flexibility and reliability of electricity supply by allowing power generated during periods of over-supply to be stored and dispatched as needed, in order to maintain system security and reliability.
Home batteries can be charged during the day with excess electricity from rooftop solar systems, to be used later in the day. This reduces the amount of electricity drawn from the grid throughout the day, lowering power bills and reducing cost of living pressures.
The Government is committed to getting prices down, keeping the lights on and maintaining energy reliability and security.
Households interested in applying should visit: energymining.sa.gov.au/hbs
- March 16, 2019 at 10:35 pm by Australia Editor (displayed above)
- March 16, 2019 at 10:35 pm by Australia Editor