What is the South Australian Home Battery Scheme?
Established in October, 2018, the South Australian Home Battery Scheme is an initiative that has made $100 million in subsidies available to eligible households for the purchase of approved home battery systems.
40,000 South Australian households will be eligible to access up to $6,000 in State Government subsidies to help pay for the installation of a home battery system. As the administrator of the scheme, RateSetter is working closely with the South Australian Government to ensure that the subsidies are distributed with maximum efficiency.
What is a home battery system?
Solar panels offer an increasingly efficient way to generate clean energy for your home. This not only reduces the environmental impact of your household, but allows you to access free energy. Until recently, a drawback associated with solar panels was that they generated power during the day but not during peak times (i.e. evenings and mornings). Fortunately, high-performance home batteries offer a solution: you can now store solar energy for use overnight. Some home batteries also offer blackout protection, which means that you can rely on them for backup energy during an extended power outage.
Home batteries are discreet components that, depending on their capacity, range from units the size of a microwave to units that resemble a mini-fridge. You can opt to have yours installed inside or outside. A home battery must be connected to a solar panel array and a solar inverter (which converts the direct current energy produced by solar panels into alternating current energy suitable for home use).
Who is eligible for the scheme?
The South Australia’s Home Battery Scheme has been designed so that 40,000 South Australian homeowners with a house connected to the electricity are eligible to access the subsidy. Low-income earners are able to access a higher subsidy.
What products are eligible for the scheme?
The South Australian Home Battery Scheme applies specifically to home batteries: that is, the devices used to store solar power for use during peak times. It does not apply to solar panels themselves or to the purchase of an inverter.
How does the scheme work?
The South Australian government has appointed RateSetter to administer the home battery subsidy. If you’re eligible for the scheme and acquire a quote, the service provider will supply a link to the RateSetter website, where you can apply for the relevant subsidy. Participating households also have the option to apply for a low rate loan to cover the unsubsidised costs of the battery system and rooftop solar, subject to credit approval.
This information does not constitute financial advice and you should consider whether it is appropriate to your circumstances before you act in reliance on it. Any opinions, forecasts or recommendations reflect the judgement and assumptions of RateSetter as at the date of publication and may later change without notice.