Businesses and households with solar power panels will soon be able to access cheaper batteries to store solar energy generated during the day.
The new incentive aims to help reduce energy bills, allow around the clock access to electricity and increase the reliability of the statewide electricity grid.
The NSW government’s announcement is part of the Peak Demand Reduction Scheme, which aims to get more households and businesses to switch to solar power, and for those with it already installed to get the most out of it.
Through connecting batteries through Virtual Power Plants (VPP), businesses and households will be able to share capacity across the energy grid, a statement from the state government said.
The scheme also covers $1600 to $2400 off the upfront installation cost for a household battery for those with existing solar panels, and delivers a $250 to $400 incentive to connect a battery to a VPP.
This benefit can be claimed a second time three years after the first claim.
Minister for Climate Change and Energy Penny Sharpe said the move is part of the state government’s move to renewable energy.
“This is a targeted action to support those with solar to take the next step to lowering their bills by using renewable energy,” she said.
“More than one million NSW households have solar panels on their roofs and adding a battery will see them benefit around the clock, not just when the sun is shining.”
The incentive will be available from November 1, 2024, but only through approved suppliers.