10 September 2018
It has been a busy weekend for the South Australia’s battery storage market, with big announcements coming from both politicians and industry players.
The government has revealed further details of its $100 million Home Battery Scheme, which will subsidize the cost of buying a home energy storage system for up to 40,000 South Australian households.
Already included in the 2018/19 budget as part of the government’s $180 million energy overhaul, the program is expected to kick off next month offering subsidies of up to $6,000.
To help deliver the $100 million program, the Marshall government has signed a Memorandum of Understanding with the Clean Energy Finance Corporation (CEFC).
“In working with the CEFC we expect to be able to further assist households overcome the upfront financial barriers to accessing storage technology by offering households competitive, flexible loans where needed, in addition to the subsidies,” said Minister for Energy and Mining Dan van Holst Pellekaan.
While the subsidy will be applied to the battery component only, households will be able to apply for finance to assist with the purchase of new or additional solar panels as well as the battery system, the government noted.