The South Australia Liberal government has reportedly declared a breakthrough Home Battery Scheme, which is expected to extend $100 million in state government grants and would enable battery storage installation in approximately 40 thousand households.
Industry experts claim that this is undoubtedly the biggest government led incentive related to battery storage in the Australian domain to date. It is reported that about two million homes in Australia contain rooftop solar, however, last year only 20,000 homes got battery storage installed.
According to sources familiar with the development, the CEFC (Clean Energy Finance Corporation) is offering loans worth $100 million to allow households to purchase roof-top solar panels, extend current battery set-up, and aid new battery purchase.
An individual subsidy of $6,000 will be provided under the Home Battery Scheme for buying batteries, and an upsurge in subsidy level grades would potentially support low-earning households, cite trusted sources.
According to a government statement regarding the qualification technique, suppliers and installers of home battery storage systems need to elucidate the degree to which their services and products contribute to the SA economy. The government further stated that system providers who pledge to install battery systems that are assembled or produced in South Australia itself will be given priority.
Credible sources claim that storing the battery at household level would be inevitable in future, but governments and energy companies are keen to fast-track the same due to the benefits of using batteries for proper coordination with rooftop solar system outputs.
Dan van Holst Pellekaan, Energy Minister, reportedly stated that the deal with Clean Energy Finance Corporation was a rather important one that would help overcome the upfront expenses of battery storage. He added that working together with CEFC, the government expects to ease accessibility of the storage technology, by providing households with competitive, flexible loans when required, along with subsidies.
For the record, the value of subsidy will differ based on the size of the battery procured, and it will support a maximum value of $6000 only.