NSW home owners will now be able to apply for interest-free loans to install battery and solar-battery systems thanks to the Empowering Homes Program.
For households with an income of up to $180,000, interest-free loans of up to $9000 for a battery system or up to $14,000 for a solar-battery system will be available.
A household with a $500 quarterly electricity bill could save up to $285 a year on their bills while repaying the no-interest loan. Savings could increase to over $2000 a year once the loan is repaid.
Once complete, the program will add up to 3000MW hours of storage into the NSW energy system.
NSW Minister for Energy, Matt Kean, said the loans will support more homeowners to make the transition to cleaner energy and take control of their energy bills.
“I want to deliver a program that provides robust consumer protections in terms of safety, system performance and value for money,” Mr Kean said.
The NSW Government will shortly be seeking delivery partners for the program.
