Bunnings Introduces Zero Upfront Offer for Home Batteries and Solar Panels
The rooftop solar and home battery sector in Australia is poised for significant change as hardware retailer Bunnings introduces a zero upfront payment scheme for households, aiming to establish itself as a key player in this rapidly expanding market.
This initiative from Bunnings follows closely on the heels of the federal government’s new home battery rebate programme and aligns with the company’s strategy to penetrate the home energy market, which includes the sale of electric vehicle (EV) charging products in its stores.
Capitalising on a Growing Market
The home battery market is experiencing a surge in Australia, driven by the recently launched federal rebate, with installations of batteries now surpassing those of rooftop solar systems as homeowners rush to retrofit their properties.
Bunnings is keen to tap into this burgeoning market, particularly targeting the estimated two-thirds of households that have yet to adopt solar technology.
In collaboration with software firm Intellihub, Bunnings is set to offer an integrated solution that includes a user-friendly app and leverages technologies from two emerging players in the Australian market: battery manufacturer SigEnergy and solar module supplier Das Solar.
Simplifying Renewable Energy for Households
Ryan Baker, Bunnings’ chief operating officer, stated that the introduction of the Zelora product, which will initially be available online, aims to assist Australian households in their transition to renewable energy by providing practical home solutions.
“Many customers find home electrification complex and may not be aware of the benefits it can offer,” Baker explained. “Zelora has been developed to simplify the home battery and solar opportunity for customers in a cost-effective way.”
The entry of such a prominent player, supported by Australia’s largest conglomerate, is expected to disrupt the home energy market, which, despite its growth, has been characterised by low profit margins due to fierce competition.
Financial Backing and Innovative Solutions
Bunnings and its parent company, Wesfarmers, recently secured $100 million in low-cost financing from the Clean Energy Finance Corporation to advance the installation of rooftop solar on its stores, despite already achieving its goal of 100% renewable energy and expanding its EV fast charging infrastructure.
Alastair McKeown, Intellihub’s executive general manager in Australia, noted that the collaboration with Bunnings has been in the works for over a year, driven by the retailer’s strong brand recognition.
“They wanted to move into the home energy space, and we aimed to create something unique, so we co-designed a product that provides access to those who cannot afford the upfront costs of $15,000 to $20,000 for solar and batteries,” he shared with Renew Economy.
“That’s why we developed a subscription-based model. Many people either lack the funds or prefer to keep their savings intact.”
Smart Technology and Customer Insights
Intellihub, which has been deploying smart meters across Australia at a rate of approximately 30,000 to 40,000 per month, will utilise the same network of installers and electricians for this initiative. The company will also provide the technology for the app that Bunnings will offer to its solar and battery customers.
The app is designed to provide customers with insights into their savings and alert them to any issues with their equipment. “Often, individuals install solar and batteries without realising that their systems are not functioning correctly,” he added. The app will also include features for EV charging and pool pump management.
Trial Launch and Subscription Options
The Zelora product will first be trialled in Newcastle and greater Sydney before being rolled out nationwide. Monthly subscription options will range from £80 for the smallest battery available to £174 for the most comprehensive solar and battery package.
For further information regarding Bunnings’ offer, including detailed pricing, please refer to our sister site, One Step Off the Grid.
