When you use power matters.

If you use power from the grid in NSW outside of 9am to 3pm then, no matter what claims your retailer may make about carbon neutrality, it is predominantly power generated from coal which has a high carbon footprint. 

If you have a solar system without battery storage then chances are you still use a significant amount of power from the grid outside of the hours of 9am to 3pm, and therefore you are generating a significant amount of CO2 emissions.

You may generate excess solar over and above what your home uses that you claim as an “offset” against power drawn from the grid.  However, this may not always be the case as there are instances where rooftop solar is displacing large scale solar and wind as opposed to fossil fuels.

The QLD, VIC and WA grids largely mimic NSW, while SA and TAS have a cleaner profile with higher amounts of renewable energy through the daily cycle. 

Enter the home battery
Home battery storage lets you capture excess energy from your solar system, or charge from the grid when the grid is clean and cheap.  This green, cheap energy is then used to power your home through the evening peak when the grid has it’s highest CO2 emissions and highest prices.

If you have excess energy in your home battery then some retailers also let you export this to the grid to the evening peak to maximise your income or minimise your power bill. 

The NSW Government has launched a new rebate program to make installing a home battery even more affordable. This is a fantastic opportunity to boost your energy independence, save on bills, and contribute to a cleaner energy future.

Here's the rundown on the NSW Home Battery Rebate:

• Rebates: You can get between $1,600 and $2,400 off the upfront cost of a home battery, depending on the size of the battery.
• Eligibility: This program is for existing solar panel owners. If you're looking to install both solar and a battery, the rebate will be factored into the quote you receive from installers.
• Virtual Power Plant Bonus: There's an additional incentive of $250 to $400 for connecting your battery to a Virtual Power Plant (VPP). VPPs create a network of household batteries that can be used to help manage the electricity grid.
• Start Date: The program kicks off on November 1, 2024.

Why should you consider a home battery?
Home batteries allow you to store excess solar energy generated during the day and use it at night or during peak demand periods. This can significantly reduce your reliance on the grid and bring down your electricity bills.  Additionally, batteries provide backup power in case of outages, keeping your lights and essential appliances on.

Taking advantage of the rebate
The rebate will be accessible through approved suppliers who will be accredited in the coming months. Keep an eye out on the NSW Government website for updates on accredited suppliers.

Word of caution
While the NSW Government's home battery rebate starts in November, there's an opportunity to get a good deal right now.  Due to the five-month delay between the policy announcement and implementation, demand for batteries is currently low, meaning steeper discounts might be available.
However, with a surge in demand expected come November, there's a chance of installation delays and price increases due to limited workers and materials. This could mean the full rebate amount might not translate directly to savings for you.
So, if you're considering a home battery don't wait.  You could potentially save more by shopping around now and enjoying immediate energy bill savings for the next six months.