The NSW Government will launch a new incentive to make household batteries more accessible and affordable for NSW residents.
Households and businesses with solar panels on their roofs will be able to buy a cheaper, subsidized 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.
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 specialize in the orchestration of household batteries, like Reposit Power in the Blacktown electorate.
Information on the NSW Government household battery incentive program is available online: Incentives for residential batteries