The plan would make grants of up to $5000 and low-interest loans of $10,000 available for homes to install battery storage, while small businesses would be able to $10,000 in grants or $50,000 in low-interest loans.

Households would also get access to $10,000 grants and $20,000 in low-interest loans to “install eligible technologies such as induction cooktops and heat pumps” and move away from gas appliance, with the figures for small businesses rising to $25,000 and $100,000.

“Supporting people to electrify their homes is one of the cheapest ways to reduce emissions and would bring the greatest benefits to households,” the Greens said in a statement.

All told, the party says the policy would cost $8.1 billion.

The trade-off in the long run, the Greens argue, would be cheaper power bills going forward.

“It’s going to not only deliver real cuts to pollution, but real cuts to people’s power bills as well that will be lasting year upon year upon year,” Greens leader Adam Bandt said.

“I hope this starts a race to the top. I hope people try to outbid this policy,” Bandt said.

“This is one of the most practical things we can do to deliver cost of living relief.”

Australia is the world leader in rooftop solar – an estimated 3.8 million homes have panels without storage.

Sydney resident and Climate Action Burwood President Ken Enderby now has electric appliances and a car, all supported by his solar and battery.

“There’s power being produced but it’s not being sent to where it’s really needed, and where it’s really needed is the early evening and the only way you can do that is with a battery,” he said.

Some independent MPs have announced support for home batteries.

With power prices set to rise again, the major parties are preparing rooftop solar policies to be announced during the election campaign.