Prime Minister Anthony Albanese has unveiled a significant $2.3 billion investment aimed at reducing household battery costs by 30%. This initiative is part of a broader strategy to tackle both cost of living concerns and climate change ahead of the forthcoming elections.
During a press conference in Brisbane, Albanese highlighted that this investment could save families approximately $4,000 on the installation of home batteries. He remarked, “We’re taking the next step on rooftop solar,” underscoring the importance of this technology in Australia’s energy landscape.
Albanese praised rooftop solar as a remarkable success story for Australia, noting that every solar panel is a testament to Australian innovation. Currently, about one in three households have solar panels installed, but only a mere one in forty have adopted battery systems. Albanese pointed out that integrating batteries into homes significantly changes the energy usage paradigm, stating, “Batteries change the equation.” He explained that households with batteries could help lower energy prices for everyone by reducing peak demand on the grid.
The Prime Minister presented this policy as a proactive measure that addresses economic challenges while also contributing to environmental sustainability. With the rising popularity of solar batteries, he anticipates easing the strain on the power grid, promoting broader adoption of renewable energy sources.
The discounted battery prices are set to come into effect from July 1, with Labor projecting the installation of at least one million new batteries by 2030. This ambitious goal highlights the government’s commitment to expanding renewable energy use while supporting families in managing their energy costs.