Is a battery/solar right for me?
Battery storage is an exciting new technology, but there are a few things to consider before making an investment in a battery for your home.
As a guide, you’ll need to consider:
- Your electricity usage. How large your house is and what appliances you want to run from your battery.
- The cost of the battery system (including installation and maintenance costs) you are looking to purchase, and how long will it take to recoup those costs from your expected energy savings.
- If you already have a solar system, you'll need to find out what battery systems work best with your existing solar system as this may affect the price.
- You may also wish to speak to your retailer about how adding a battery may affect any feed-in tariff you currently receive.
Different systems suit different needs so it’s important to talk to a qualified System Provider when doing your research.
How much will I save?
How much you could save on your energy bills depends on a number of factors including the output of your solar system and capacity of the battery, as well as the amount of energy your household uses and what time of day you use energy the most.
It is important for all households to consider whether the expected energy savings over the life of the battery will cover the cost of purchase.
Households should seek advice from a number of qualified System Providers when obtaining quotes for a home battery system.
In the meantime, if you are concerned about your energy bills, you can find helpful advice and information about energy use in your home and how you may be able to better manage it at www.sa.gov.au/energy
Alternatively, you can call the Energy Advisory Service on 8204 1888 or 1800 671 907 (free call), Monday to Friday during business hours, or you can email them at firstname.lastname@example.org
Can I afford it?
The cost of a home battery system varies depending on the size of the battery and whether you need new or additional solar panels. As a guide, the cost of a small battery (before the subsidy is applied) can start from $3,800 and a large battery can start from $9,000, including installation.
The subsidy is calculated on the kilowatt hour capacity of the battery – meaning the bigger the battery, the larger the subsidy. South Australian Energy Concession holders are able to access a subsidy of $600 per kWh and non-concession holders can access $500 per kWh. For example, a battery with 5kWh of energy storage capacity could receive a $2,500 subsidy, or $3,000 if you are an energy concession holder.
Subject to credit approval, low interest loans are available to assist participating households pay for the balance of the battery and new solar panels if required. When applying for the subsidy, a loan application can be made through RateSetter - the administrator of the Home Battery Scheme subsidy and $100 million in finance provided by the Clean Energy Finance Corporation.
Use the RateSetter Home Battery Scheme calculator to calculate your loan repayments.