NSW households and businesses with solar panels on their roofs will be able to buy a cheaper, subsidised battery to store solar energy generated when the sun is shining.
This will help get the most out of their solar, by allowing them to use it around the clock. It will also reduce their energy bills and boost the reliability of the statewide electricity grid.
NSW Energy Minister Penny Sharpe said: “More than one million NSW households have solar panels on their roofs and adding a battery will see them benefit around the clock, not just when the sun is shining.”
“We are bringing down the upfront cost of batteries for households and businesses to make them more accessible.”
“This is a targeted action to support those with solar to take the next step to lowering their bills by using renewable energy. It also supports the state’s transition to renewable energy.”
The new incentive is part of the Peak Demand Reduction Scheme and includes:
- between $1,600 and $2,400 off the up-front installation cost of a household battery for homes and business with existing solar
- for homes and businesses wanting to install solar, the incentive will be considered in the quote for a new solar and battery system installation
- a $250 to $400 incentive for connecting a battery to a Virtual Power Plant. It can be claimed a second time, 3 years on.
By connecting batteries in Virtual Power Plants, households and businesses can collectively share capacity across the energy grid.
The incentives will be available from 1 November 2024 and will be accessed through approved suppliers, which will become accredited over the coming months.
The expansion of the scheme follows extensive consultation with companies who specialise in the orchestration of household batteries, like Reposit Power in the Blacktown electorate.
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