Australian Prime Minister Anthony Albanese has allocated A$2.3 billion to lower the price of home batteries, as his centre-left government focuses on cost-of-living pressures ahead of the May 3 election.
Households, small businesses and community facilities will be eligible for a 30% discount on installed battery costs, saving about A$4,000 on a typical system, Albanese and Climate Change and Energy Minister Chris Bowen said in a statement on April 6.
An estimated one million batteries will be installed under the plan and will store solar power for use when needed.
The announcement marks another step in Albanese’s campaign to ease pressure on household budgets, partly through rebates to offset rising power prices.
While about four million rooftop solar systems have been installed — one in three Australian households — only one in 40 has a battery, according to the statement.
The initiative will help households reduce reliance on the grid, which will in turn help lower peak demand, pushing down prices for everyone, it said.
