A Shorten Labor Government will help Australians slash their power bills by setting a new national target of one million household battery installations by 2025.
From 2020, Labor’s Household Battery Program will provide a $2,000 rebate for 100,000 households on incomes of less than $180,000 per year to purchase and install battery systems, as well as low-cost loans for households.
This would triple the number of battery systems in Australian households compared to today’s numbers. The massive boost will also help manufacturers scale up production and reduce their costs, in order reach the goal of one million households with battery systems by 2025.
The Smart Energy Council estimates that new household solar and batteries would allow most homes to save more than 60 per cent off their power bills.
Australians love renewable energy because they know it saves them money and it’s good for the environment. Household solar installation has sky-rocketed from 7,000 homes in 2007 to 1.8 million homes today.
Supporting the installation of more household battery systems is the next big step in helping families keep their energy bills lower. When the sun goes down, or when electricity usage is at its peak, consumers can draw on their own stored energy.
This is good for consumers – giving them more control over their power bills, as well as lowering power prices and improving reliability for all Australians by reducing demand on the electricity grid in peak times.
And it’s good for the environment – cheaper and cleaner electricity for Aussie households will help Australia achieve 50 per cent of power from renewables by 2030.
Labor’s battery installation rebate for 100,000 households has been costed by the independent Parliamentary Budget Office to have a budget cost of $140.9 million over the forward estimates and $201.3 million over four years to 2022-23.
A Shorten Labor Government will also invest in a Neighbourhood Renewables Program so that renters and social housing residents can also benefit from cheaper and cleaner renewable energy
We will establish community power hubs to support the development of renewables projects in local communities – such as solar gardens on apartment rooftops, community wind farms, energy efficiency upgrades for social housing, and grants for community groups to pilot new projects.
Labor’s Neighbourhood Renewables Program has a capped budget cost of $75 million over the forward estimates and $100 million over four years to 2022-23.
These new initiatives to cut power bills for Australian households build on our existing commitments to crack down on price gouging by power companies by overhauling electricity deals, abolishing expensive outdated energy plans, and introducing a capped offer for consumers.
Australia is in an energy crisis under the Liberals. Electricity prices have increased by nearly 19 per cent over the past three years – three times faster than wages growth.
The Liberals haven’t been able to agree a policy amongst themselves, and aren’t up to leading the country in the right direction.
Labor’s Plan for More Renewable Energy and Cheaper Power will be good for households, good for the economy and good for the environment.
It will help deliver 50 per cent of power from renewables by 2030, keep power prices lower, and create tens of thousands of jobs in the renewables industry.
Only Labor will deliver cheaper power bills, more renewables and more jobs for Australians.
Fact sheets:
Household Batteries Program
Neighbourhood Renewables Program
