Battery Rebate Milestone: 50,000 Solar Homes Benefit
The total capacity of behind-the-meter energy storage in Australian residences and businesses has surged by 25% since the launch of the Cheaper Home Batteries rebate in July, reaching a record high.
Federal Energy Minister Chris Bowen celebrated this significant achievement over the weekend, announcing that the number of subsidised batteries installed under the initiative has now exceeded 50,000.
Record Installations and Positive Impact
During a press conference at the Penrith Solar Centre in Sydney, Bowen highlighted that the average installation rate has consistently reached 1,000 batteries per day, demonstrating that the policy is functioning as intended. “Today, we have 50,000 batteries installed, and since July 1, we’ve increased the capacity of Australian home batteries by 25%. That’s a substantial increase,” he stated.
Bowen pointed out that the rebate has seen the highest uptake in regional areas and outer suburbs, particularly in New South Wales, where the electorates of Gilmore and Page lead the way, followed closely by Richmond, Macquarie, Hunter, and Riverina.
Empowering Households and Virtual Power Plants
He emphasised that many participants in the rebate scheme are considering joining a virtual power plant (VPP), as the batteries installed through this initiative must be compatible with VPP systems. In New South Wales, as well as Western Australia, there are additional state incentives for those who choose to enrol their batteries in a VPP.
Bowen made it clear that the decision to join a VPP is entirely up to the individuals. However, recent studies indicate that combining the federal rebate with participation in a NSW VPP can reduce the average payback period for batteries to as little as four years.
