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Labor has announced a solar battery program it says could save households thousands of dollars per year in energy bills.
On Sunday, Prime Minister Anthony Albanese will formally announce that, if elected, the government will spend $2.3 billion to roll out the Cheaper Home Batteries Program.
Under the plan, households, small businesses and community facilities would receive a 30 per cent discount on the upfront cost of a typical battery — a saving of around $4,000.
By Labor’s analysis, a household with existing rooftop solar could save up to $1,100 on energy bills every year, and a household installing new solar and a battery could save up to $2,300 per year.
“We want to make sure Australians have access to cheaper, cleaner energy,” Albanese said in a statement on Saturday evening.
“This is good for power bills and good for the environment.”
How would it work?
One in three Australian households have solar panels, but Labor estimates that just one in 40 have their own battery.
A household with a typical battery would be able to store surplus power generated during the day, reducing its reliance on the grid, and pushing down peak demand and costs.
Labor would roll out the battery subsidy program through the small-scale renewable energy scheme from 1 July.
Supporting solar energy is part of Labor’s goal of an 82 per cent renewable electricity target by 2030, achieving net zero by 2050.
The government has also committed to building more than 4,000km of high-voltage transmission lines to carry renewable energy and connect the country’s grid.
What are the other party’s energy offerings?
Opposition leader Peter Dutton has also promised Australians he’ll reduce their electricity bills, through the introduction of a National Gas Plan.
The plan includes prioritising the domestic supply of gas through an east coast domestic gas reserve, fast-tracking new gas projects and halving approval times.
The Coalition has also pledged to build nuclear power plants at an estimated cost of $331 billion — .
The Greens oppose the expansion of gas projects and a nuclear industry in Australia, and instead want to support people electrifying their homes.
Under the party’s plan, households and small businesses would be able to access grants and low-interest loans to disconnect from gas appliances and install electric alternatives.
Similar financial assistance would be offered to install battery storage.
