Empowering Homes – Interest free solar battery loans in NSW

Empowering Homes – Interest free solar battery loans in NSW could be set to commence towards the end of 2019 – let’s take a look at the system and how to apply for it.

Empowering Homes – Interest free solar battery loans in NSW

Empowering Homes – Interest free solar battery loans in NSW

The Empowering Homes program is going to support the installation of up to 300,000 solar-battery systems across New South Wales in the next 10 years, providing interest free solar battery loans to eligible residents. The loans will offer up to $9,000 for a battery system, or $14,000 for a solar battery system. As long as your household has a combined income of less than $180,000, you’ll be eligible for the scheme (subject to normal loan assessment criteria).

Empowering Homes interest free solar in NSW
Empowering Homes – Interest free solar in NSW. (source: energy.nsw.gov.au)

The scheme, which is using $50m redirected from a cancelled virtual power plant program, is still missing a lot of information. According to the official website it aims to ‘unlock up to $3.2 billion in clean energy investment, adding up to 3,000 megawatt hours of storage into the NSW energy system when complete’. 

“I want to deliver a program that provides robust consumer protections in terms of safety, system performance and value for money,” NSW Minister for Energy, Matt Kean, said in comments reproduced on the NSW Government’s website.

According to Solar Quotes and statistics provided by the Australian PV Institute, New South Wales’ solar penetration (at ~19%) is quite far behind Queensland (34.1%), South Australia (33.5%), and Western Australia (27.6%). 

According to figures from the Government website, “a household with a $500 quarterly electricity bill could save up to $285 a year on their bills while repaying the no-interest loan. Savings could increase to over $2000 a year once the loan is repaid.”

For further information about battery systems please visit Energy Saver NSW.

If you’re like to register your interest in the Empowering Homes program and also receive updates as they become available, please click here and fill in the form at the bottom of the website. According to the official site the first battery/solar-battery systems will be available for install in summer 19/20. 

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SRES – Will solar rebates increase the cost of electricity?

Will solar rebates increase the cost of electricity? Yesterday The Australian newspaper published an article titled ‘Households’ $2bn solar hit’ which hypothesises that every Australian household will have to stump up $195 to help subsidise the subsidies. Is this rubbish? What impact does the SRES really have on electricity prices? Let’s read on…

SRES – Will solar rebates increase the cost of electricity?

Ketan Joshi via Renew Economy wrote a great article titled “How a ridiculous falsehood about solar power self-replicated in media”. You can read it on Ketan’s blog (ketanjoshi85) by clicking here. The “$2b solar hit” is a sum which has been basically made up through some extremely shoddy extrapolations.

The article in the Australian was run with by a number of Australia’s most trusted media outlets – News.com.au, 7 News, Sky News, the Today Show, and the consistently atrocious Daily Mail – who titled their article about the rebates thusly: 

“Climate change farce: How every Australian household contributes $200 a year to those lucky enough to be able to afford to put solar panels on their roof”

Energy Minister Angus Taylor decided to blame the big electricity retailers:

‘The big cost is the profits being taken by the big energy companies in the wholesale market, without innovation or new products, and it is time for them to deliver a fairer deal for their customers,’ he said.

‘According to the Australian Energy Market Commission, the small-scale technology certificate cost is less than three per cent of the bill, whereas 46 per cent is going to the big generator retailers.’

The Renew Economy article notes that, for FY18 and FY19 respectively, Australians paid/will pay $19 / $32 towards the scheme. This is a stark contrast to the $134 / $195 which was reported. It appears that the figures are so badly skewed for a number of different reasons including the assumption that 100% of electricity costs are passed on from businesses to households. They also haven’t factored in the Small-scale Technology Percentage, which will be set by the Energy Minister in March – and the effect this will have on STCs is quite marked. Installing solar power systems becomes cheaper if the STCs are higher, so you can see how this would have an impact which could be measured erroneously. It’ll be interesting to see how this impacts on solar grants moving forwards. 

The Small-scale Renewable Energy Scheme (aka SRES) is scheduled to run until 2030. If you’d like to read more about it please visit the Clean Energy Regulator’s website – where they have plenty of information about the scheme. 

We’d also recommend Ketan’s article for a more in depth exploration of the issue.

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Half price solar for Victorians in $1.2b plan.

Half price solar in conjunction with solar loans will be available to Victorians under a $1.2b plan announced by the state government over the weekend.

Half price solar for Victorians

Half Price Solar for Victorians
Half Price Solar for Victorians (source: premier.vic.gov.au)

Victorian Premier Daniel Andrews announced a $1.24 billion solar plan yesterday. According to the press release the Labor Government released on their website, Victorians will save around $890 / year if they are interested in being part of the half price solar scheme – which involves 50% off solar panels and no upfront cost. The second 50% will be in the form of a solar loan from the government – but to get this loan the Andrews Government will need to be re-elected and implement it from July 2019. 

Premier Andrews has an ongoing argument with the federal government over the National Energy Guarantee – so this is a shot across the bow of Malcolm Turnbull who has recently decided to abolish all energy targets inside the NEG. 

“I can’t give you an answer on the NEG because I don’t know what the NEG actually means, this thing is changing every 24 hours,” Mr Andrews told reporters on Sunday.

 
Not wanting to see a repeat of the pink batts insulation fiasco, an independent agency named Solar Victoria will work with the industry, regulators, and training organisations to ensure the quality of installs is high. Around $9m will be spent to support accreditation of up to 4,500 electricians. Looks like there will be plenty of solar jobs in Victoria if they’re able to get this project over the line.
 
The Victorian Government are hoping to bring solar power to 650,000 households over the next ten years with the Solar Homes program, which they are investing $68m in to launch immediately.
 
Click here to view the Media Release, entitled ‘Cutting power bills with solar panels for 650,000 homes’. 
 
 

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