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The NSW Government is all set to launch the new initiative of making solar batteries accessible and affordable for NSW residents. Developed under the Peak Demand Reduction Scheme, this initiative will allow households and businesses with solar panels to buy solar batteries at subsidized rates. These solar batteries will not only allow the users to store the energy produced with solar power but the excess energy can be transferred to energy grids by connecting batteries to Virtual Power Plants.
They key features of the Household Battery Incentive Program are:
Homes and businesses with existing solar will be able to save between $1600 and $2400 on the installation cost of batteries.
For those looking to install solar, the incentive will be included in the quote for a new solar and battery system installation
Connecting a battery to a Virtual Power Plant will provide you an incentive of $250 to $400 which can be claimed again after 3 years.
This incentive will be available from 1 November 2024 and through approved suppliers.
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