Canberra households will win under Greens battery storage plan

Hear more from the Greens in the Canberra Times coverage of this story.

New solar users in the ACT will receive a 50 per cent refundable tax credit to assist with the cost of installing household battery storage under a Greens announcement.

“Now is the time to jumpstart the battery industry, encourage the take up of storage and cement Canberra as a renewable energy leader,” said ACT Greens senate candidate Christina Hobbs.

“Battery technology is moving at an unbelievable pace and will be a game-changer for our transition to powering our community with clean energy

“This plan would give Canberrans who are getting rooftop solar the ability to store their power for use at night time allowing people to power their homes with clean low cost energy 24 hours a day.

“For new solar users without access to the feed-in tariff, this is a great opportunity to take up new battery storage technologies and drastically reduce the cost of household electricity.”

Individuals will get up to half the cost of their battery storage system covered, up to a maximum of $5000 in the first year of the program. The program will run for five years and the amount of the credit will taper off to $1,500 by 2021, reflecting the projected decline in battery storage costs.

A grant scheme will also be available for those on low incomes. Up to 1.2 million homes across Australia could be supported over the five years of the program.

“It is Australians on low incomes who struggle the most to pay their electricity bills, this policy is about giving everyone the opportunity to power their homes cheaply with the power of the sun,” said Ms Hobbs.

Business investment in battery storage will also be supported allowing battery storage assets to be depreciated for tax purposes over an accelerated period of 3 years. Up to 30,000 businesses could be supported by the measure.

“Battery storage is the next logical step to a renewable energy economy, away from fossil fuels that are speeding up global warming.

“This is about removing tax payer money out of subsidising the fossil fuel industry and putting it towards powering Australian homes with clean low cost renewable energy,” Ms Hobbs said.

Both programs will be funded by savings from the reform of accelerated depreciation concessions for fossil fuels intensive industries.

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Media Contact: Maiy Azize – 0421 281 400 or maiy.azize@act.greens.org.au