The Federal government’s Cheaper Home Batteries Program’ rebate means a substantial upfront discount in the cost of a home battery storage system — about $244 per useable kilowatt-hour (kWh) for the first 14kWh of storage capacity. The rebate then reduces for larger systems, dropping to 60% for the subsequent 15-28kWh, and to 15% for the subsequent 29-50kWh of storage capacity.
With most batteries costing around $1,000 per kWh, this equates to a discount of up to 25% and thousands of dollars of savings!
| Size of Battery | Support Rate | Household size |
|---|---|---|
| Small (Up to 14kWh) |
100% for each kWh | Suitable for a smaller household |
| Medium (14kWh to 28kWh) |
60% for capacity over 14kWh | Suitable for a larger household |
| Large (28kwh to 50kWh) |
15% for capacity over 28kWh | Small business and households with high energy needs |
As an example, you’re entitled to a rebate of around $4380 for a 24kWh home battery. Having this size battery installed can save you up to $1000 each quarter. Sounds good, right? If you’re wondering the price you can expect to pay for high-performance batteries in NSW, click here.
Here are some important things to know:
- the Federal government battery rebate applies to systems between 5kWh and 50kWh
- you can only claim the home battery rebate once
- you can claim the rebate on a new battery storage system, even if you have an existing battery installed (as long as you didn’t claim the Federal govt rebate on the initial battery)
- homes, small businesses and community facilities are all eligible
In addition to the Federal government battery rebate, the NSW government is also offering a Virtual Power Plant or VPP rebate, which is worth up to $1500 – if you choose to join a VPP. Only batteries up to 28kWh are eligible. If you install a 29kWh battery or larger and you join a VPP, you won’t be eligible for the VPP rebate. But, if you get a bigger battery (28.1kWh or larger) and you join a VPP, the additional savings you’ll achieve from being part of a VPP can far outweigh the NSW VPP rebate over time.
Now’s a great time to get battery storage. Talk to us today about how you can make the most of this opportunity and start saving.
