$100 million in South Australian Government subsidies have been matched by $100 million in finance from the Clean Energy Finance Corporation which will provide low-interest loans for the installation of home battery systems in South Australia.
Households can visit a dedicated website where they can find a qualified system provider, search for an approved battery system, request a quote and apply for the subsidy and low-interest loan.
SA Premier, Steven Marshall, said this $200 million investment is a central plank of his government’s plans to cut the price of electricity for South Australian households and businesses.
“Households will enjoy savings of thousands of dollars on their electricity bills over the life of the battery,” Premier Marshall said.
“This $200 million investment will deliver more affordable, reliable energy to South Australian households.”
The subsidy will be scaled in line with the size of the home battery system purchased with Energy Concession holders able to access a higher subsidy.
The subsidy is expected to go down over time and is capped for everyone at $6000 per battery system installed.
“We are also creating jobs and attracting new business to our state by giving priority to qualified system providers who commit to installing approved battery systems that are manufactured or assembled in South Australia,” Premier Marshall said.
These providers will be afforded a nine-week priority period meaning their products will be exclusively available to households.
German battery storage giant Sonnen is the first provider to enjoy this benefit since it announced plans to manufacture up to 10,000 battery storage units a year at the former GM Holden manufacturing site in Elizabeth.
Sonnen batteries are available from today with additional brands available after the nine week period.
“The Home Battery Scheme is another example of our commitment to deliver more jobs, lower costs and better services,” Premier Marshall said.
Minister for Energy and Mining, Dan van Holst Pellekaan, said the scheme will benefit all South Australians.
“Not only will up to 40,000 households enjoy reduced electricity prices by purchasing a home battery system, but the installation of these systems will reduce demand on the network,” said Minister van Holst Pellekaan.
“This will ultimately result in lower prices for all South Australian households.”
Australian lending company RateSetter has been chosen to administer the subsidy and finance provided from the federally owned Clean Energy Finance Corporation (CEFC).
CEFC CEO, Ian Learmonth, said, “We’re pleased to be working with the South Australian Government and RateSetter to help more households take advantage of this program.
“Home battery solutions, which help householders get more out of their rooftop solar PV, can help cut energy costs and reduce carbon emissions – making both good economic and environmental sense.”
