New South Wales is introducing a new incentive program designed to make household batteries more affordable for residents and businesses. Starting 1 November 2024, this initiative will help solar-powered homes and businesses store the energy generated by their solar panels, allowing them to use it when the sun isn’t shining.
The incentive program, part of the Peak Demand Reduction Scheme, offers:
- Between $1,600 and $2,400 off the upfront cost of installing a household battery for homes and businesses with existing solar systems.
- For those looking to install both solar and a battery system, the incentive will be included in the quote for the new installation.
- A $250 to $400 incentive for connecting a battery to a Virtual Power Plant (VPP), with the possibility to claim the incentive a second time after three years.
By connecting batteries to Virtual Power Plants, participating households and businesses can share energy capacity with the broader grid, helping to balance demand and improve grid stability.
The program will be available through approved suppliers, who will be accredited in the coming months. This initiative follows consultations with companies that specialize in household battery integration, including Reposit Power in Blacktown.
For more details on the incentive program, visit NSW Household Battery Incentive.