How To Access The South Australian Home Battery Scheme

South Australian Home Battery Scheme Updates and Customer Access!

New updates on the South Australian Home Battery Scheme have been released! Although we’re still unsure of the official commencement date for applications (rumoured to be mid-October) we’ve been provided with information on how customers will be able to access the Home Battery Scheme and the optional finance loans.

Quick recap of the South Australian Home Battery Scheme

If you don’t already know about the Home Battery Scheme lets get you up to speed! The Home Battery Scheme will allow households with Solar PV Systems to be able to purchase a battery storage system at a reduced cost, using Government subsidies. Having a battery storage system will enable households to store excess energy generated from their Solar PV System. Subsidies will only be available for the battery storage component of a Solar PV System.

Homes that do not have a Solar PV System installed will be able to apply for Finance Loans through Clean Energy Finance Corporation (CEFC) and RateSetter to assist in purchasing the system and then will be able to apply for the Home Battery Scheme subsidies for the battery storage component. The loans will be flexible and competitive in comparison to other financing options.

Purpose

  • Directly reduce power prices for 40,000 households
  • Reduce demand on the network especially during peak periods
  • Lower power prices for all South Australians

Who is eligible to receive the subsidy?

  • Anyone who owns or occupies a home in South Australia (includes renters who have permission from the property owner)
  • SA Energy Concession Holders to receive a higher subsidy
  • One subsidy per home

How much is the subsidy?

  • Scaled in line with the size of the battery – the bigger the battery the bigger the subsidy
  • Capped at $6000 per system installed
  • Subsidy and cap to reduce over time to ensure 40,000 households can participate
  • Energy Concession Holders receive $600.00 per kilowatt-hour (kWh)
  • Other households $500.00 per kilowatt-hour (kWh)

Example:

What does this mean for households?

Households could be looking at a payback period of around 6 years and saving thousands on energy bills over the life of the battery.

How will households access the Scheme?

A dedicated website (joint SA Government and RateSetter Platform) will be available in October to help households:

  • consider their suitability
  • identify qualified system providers and eligible systems
  • access the subsidy and finance (if required) through RateSetter

What finance is available?

  • In addition to the subsidy, households will be able to access finance to assist with the upfront cost of paying for the battery and new solar if required
  • Competitive Loans through the RateSetter Platform funded by an initial investment of $100 million from CEFC
  • Households will be able to choose the amount they borrow
  • Expected term of the loan to be between 3-7 years to ensure households achieve the greatest benefit from the system

 

RateSetter has been appointed by the South Australian Government to administer its subsidy program and deliver CEFC finance to residents

 

Customer Journey For Accessing the Home Battery Scheme Subsidies and/or Loan

Once the Home Battery Scheme commences sometime this October the Customer Journey for accessing the subsidies and finance are as followed.

Step 1

The customer requests a quote from a system provider.

  • Quote must be for eligible equipment
  • Quote must be with a qualified System Provider
  • Can include solar panels
Step 2

System Provider will enter details of the quote on the Home Battery Scheme website (website is still yet to be released) and RateSetter will provide a unique quote reference to the System Provider and Customer.

Quote reference:

  • Allows customers to apply for a subsidy
  • System Providers can track the progress of a subsidy application and finance
Step 3

The customer will then apply for subsidy and/or finance and wait to receive the result of the finance application.

  • Subsidy application can be conditionally approved within minutes
  • Finance application can be processed within minutes if all information is provided and the customer has a clean credit file

Subsidy Checks:

  • One subsidy per home
  • No commercial properties
  • Power bill (Every application must upload a photo of their most recent power bill)

Finance Checks:

  • Income and expenses
  • Bank statements and payslips
  • Credit check
Step 4

Once all approved the system can be installed!

Information sourced  from Energy Mining SA

What Now?

If you’re interested in applying for the Home Battery Scheme or Finance, follow the below link and register your email under the Home Battery Scheme drop down and we’ll send you notifications and updates as we hear more! You can also view information here.

Stay Updated On The Home Battery Scheme and Register Your Email For Future Updates!

Download Your FREE Beginner’s Guide To Solar Power!

Beginners Guide to Solar Power

If you’re considering solar for your property or just looking to maximise the savings for your solar system, download a FREE copy of our "Beginner’s Guide To Solar Power".

Become an expert and better understand the ins and outs of solar power and solar PV systems for your property.

Includes detailed explanations and diagrams of the various types of solar systems and their parts, solar battery storage systems, Government incentives, expected ROI periods, finance, energy saving tips and more!

Download Your Free Copy Now!

 

Most Popular Reads

Post Thumbnail

Low Income Households Finding Relief with Solar

Post Thumbnail

Maximise Your Energy Savings with these Top Tips!

Post Thumbnail

6 Reasons Why Solar Power Isn’t Saving You Much Money

Latest blog & information

X

Please provide your email address so that we can send your free copy of "Beginner’s Guide To Solar Power".

Yes please, I would like to receive updates from Solar Market. Click to view our Privacy Policy.

Thank you

We have emailed your copy of "Beginner’s Guide To Solar Power".

If your guide does not appear in your inbox ensure that you have provided the correct email address or check your junk/spam folder.

This message will close in 10 seconds or

Close and back to page
X

Understanding Batteries

Off-Grid Systems

For some households a battery system can be of great benefit and minimise a home’s reliance on the grid. However, it’s important to understand for a battery to be useful your solar system needs to be generating excess energy for the battery to store, which you can then use at night or when the sun is not out.

When selecting a battery, you’ll want to invest in a system that is most suited to your home and can drive the best return on investment (ROI). Despite a larger upfront cost, a higher quality battery may significantly increase your ROI.

    Battery systems start from $6,000 and costs can vary greatly based on the following factors:

  1. Cycle Life-Time

    The number of times a battery can fully charge and discharge.

  2. Battery Power (kW)

    How fast it can be charged or discharged.

  3. Storage Capacity (kWh)

    The maximum amount of energy a battery system can store.

  4. Battery Management System (BMS)

    An electronic ‘smart’ system that gathers data and manages the battery ensuring it does not overload or operate outside of its safe functioning zone..

  5. Inverter

    Battery systems require their own inverter if your solar system does not have a hybrid inverter.

  6. 'All-In-One Unit’

    A system which includes the battery, BMS and an inverter all in one unit.

  7. Warranty

    Length of time or cycles the battery system is under guarantee.

  8. Blackout Protection/Backup

    It’s important to note this is not a common feature of a battery system and could cost thousands of dollars to include. Blackout protection not only requires additional components but also a specialised installation and rewiring. For grid-connected homes, the cost for blackout protection can outweigh the benefit.

Additionally, if your purpose for adding battery is to go Off-Grid and become completely independent from the grid you will need to ensure your solar system can generate enough energy to power your home and your battery system is large enough to store this energy. For homes in metro areas going Off-grid is not cost effective and is only recommended for those in remote areas with limited access to the grid. Off-grid solar systems with battery start at approximately $30,000.