A Bright Future Awaits Victorians!
Just when you thought the Victorian Labor government was done with their renewable energy commitment, pushing for solar solutions through their rebate program worth $1.2 billion, another project is set to help Victorians to get solar storage.
Subsidies of up to $5,000 will be provided by Victorian Labor government to enable 10,000 households to install battery storage in their homes, which is additional to the rebate program and zero interest loans for rooftop solar. Depending on the size of the battery, this initiative will be expected to provide $40 million helping 10,000 households.
The Victorian government believes this will reduce electricity consumption by an average of 11kWh thanks to battery storage, equaling a savings of approximately $650 a year on their electricity bills, this is on top of the current savings which they receive from their solar panels.
Who will benefit?
The battery storage assistance will only be accessible to those who have existing rooftop solar systems with annual household income of under $180,000. Qualified homeowners can save up to $4,838 on installation, gradually reducing to $3,714 by 2026 as the price of batteries descend.
This battery storage initiative from Victoria Labor government will open more opportunities for installers to offer reliable brands to the market and help them choose the best products depending on the type of household rooftop.
The customer demand for battery storage is increasing in Australia with approximately 20,789 system installed in 2017 and is set to increase to a forecasted 33,000 installs in 2018 (Parkinson, 2018).
(Source: Reneweconomy, 2018)
In addition, 12 percent of the 172,000 PV installations in 2017 included a battery, up from 5 per cent on the previous year according to Industry data by Sunwiz. This totals to 28,000 battery systems installed across Australia.
Installers can take advantage of this kind of government support and other initiatives to push for solar and use clean energy solutions to control energy consumption while decreasing emissions at the same time. All whilst helping the Australian resident save money on their electricity bill into the future.
(Source: Australian Battery Market Report for 2018 – Sunwiz)
What else can we expect?
In the near future, it is said that the battery storage units will have the capacity to communicate with each other and be utilized in virtual power plants and future micro-grids, enabling families in a local area to share the stored power and lower power costs considerably further.
Moreover, the Labor government says it will contribute $10 million to progress the grid to help more sustainable renewable energy over the next 10 years, including another new expert Network Services Advisory Committee and regulatory reform.
Powerark Solar supports these government initiatives as it is our key value to provide affordable and accessible energy solutions to Australians now and into the future. As Energy minister Lily D’Ambrosio said, “This is about modernizing our electricity grid to help us transition to a more affordable, reliable and clean energy system,”.
To know more about the battery rebate program and products, contact Powerark on 1300 887 557 or email us at firstname.lastname@example.org
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Parkinson, G. (2018, September 14). Battery grant for solar homes announced by Victorian government. Retrieved from https://onestepoffthegrid.com.au/battery-grant-solar-homes-announced-victorian-government/
Parkinson, G. (2018, March 29). Solar battery installs to reach 33,000 in 2018 as economics improve. Retrieved from https://reneweconomy.com.au/solar-battery-installs-reach-33000-2018-economics-improve-89443/
Solar Choice Staff (2018, March 29). Over 20,000 battery storage systems installed in Aus in 2017: SunWiz. Retrieved from https://www.solarchoice.net.au/blog/over-20000-battery-storage-system-installed-in-aus-in-2017-sunwiz/