Labor's Plan For Solar And Batteries For Households

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Labor's Plan For Solar And Batteries For Households

A Shorten Labor Government will slash power bills, improve grid security and support new jobs in local industries by setting a new national target of one million household battery installations by 2025

Australian households want greater control over their energy and want to cut their power bills, which have skyrocketed under the Liberals. That is why, despite the Liberals’ attacks on renewable energy, more and more Australians have turned to rooftop solar. Household solar installations are at record levels and costs continue to fall rapidly.

With two million households using rooftop solar, Australia is in a prime position to benefit from the rollout of household battery systems.

Batteries cut household power bills for individual households, but they also reduce electricity prices for all Australians by reducing peak demand in the grid and have system-wide reliability benefits.

The Smart Energy Council estimates that new household solar and batteries would allow most homes to reduce their power bills by more than 60 per cent.

However, many households are unable or unwilling to access battery systems due to their high upfront cost. Additional support is needed to cut power bills, boost energy security and drive growth in this emerging industry.

LABOR’S PLAN:

A Shorten Labor Government will set an ambitious national target of one million new residential battery systems by 2025, to be supported by rebates for new battery installations.

From 1 January 2020, Labor will provide a rebate for eligible battery systems, at a rate of $500 per kilowatt hour (KWh) of battery capacity, capped at $2,000 for households with a gross annual income of less than $180,000.

The rebate will support 100,000 new battery installations and deliver significant price and reliability benefits to all electricity users by cutting peak demand and average electricity prices.

· The rebate will be complemented by low cost financing through the Clean Energy Finance Corporation (CEFC) and will be made available on a demand-driven basis to support the purchase of both household battery and solar systems.

· Eligible battery systems must be virtual power plant capable to maximise system-wide benefits.

· The rebate is limited to one battery system per home and will not be available to households that have received subsidies from State schemes.

· The program will be reviewed after two years, given projected falls in battery costs and to assess progress towards Labor’s target of one million new battery installations by 2025.

Eligible batteries must meet the Australian standard under the Clean Energy Council Battery Assurance or equivalent program, be installed by an accredited battery installer and purchased from an Approved Solar Retailer.

We will pay for it by making multinationals pay their fair share and closing tax loopholes used by the top end of town.

Labor’s battery installation rebate for 100,000 households has a budget cost of $201.3 million over the forward estimates.

We will pay for it by making multinationals pay their fair share and closing tax loopholes used by the top end of town.