The New South Wales Government has launched a $7 million debt finance pilot to enable residential access to solar-battery systems.
The NSW Government Empowering Homes Program will allow eligible Hunter residents to access interest-free loans for battery and solar-battery systems which could deliver more than $250 in savings a year.
NSW Energy and Environment Minister, Matt Kean, said the pilot is an important first step in the delivery of the NSW Government’s Empowering Homes program which will reduce energy bills for up to 300,000 households while helping the State to transition to a clean energy future.
“This is about unlocking the saving and sustainability benefits offered by solar-battery systems” Mr Kean said.
“For households that use more than 6000kWh of electricity a year, installing a solar and battery system can help reduce their annual electricity bill by putting more than $250 a year back into your pocket.
“This will help create jobs, reduce emissions, increase system security and reliability, and place downward pressure on energy costs for everyone.
“The NSW Government remains committed to achieving net zero emissions in NSW by 2050 and this is one of the many clean energy initiatives we’re introducing to deliver on that target.”
Interest-free loans of up to $14,000 for a solar-battery system, or up to $9000 for the addition of a battery to an existing solar system will be available to owner-occupiers with an annual household income of up to $180,000.
The Clean Energy Finance Corporation will provide finance for the pilot, which will be administered by delivery partner RateSetter.
Running for up to 12 months, the pilot will be available to eligible residents who have postcodes in the areas of Cessnock, Dungog, Lake Macquarie, Maitland, Mid-Coast, Muswellbrook, Port Stephens, Singleton and Upper Hunter.
For more information on the program or eligibility, click here