- Albanese announced savings on solar
Anthony Albanese‘s Labor Party has vowed to save homeowners $2,300 on new solar and battery systems.
As both major parties go head-to-head on cost of living policies in the lead up to the May 3 federal election, Mr Albanese pledged to cut the cost of the average solar battery by 30 per cent.
The saving falls under Labor’s Cheaper Home Batteries Program, set to be introduced from July 1 if it wins the upcoming election, The Australian reported.
Modelling by the Department of Energy found homes with a pre-existing rooftop solar system could save up to $1,100 on power bills every year.
Households installing new battery and solar could save up to $2,300.
‘Labor’s number one priority is delivering cost of living relief,’ Anthony Albanese said.
‘That’s why we want to make sure Australians have access to cheaper, cleaner energy.
‘This is good for power bills and good for the environment. Only Labor has a plan to build Australia’s future.’
Anthony Albanese’s Labor Party has promised to cut the cost of installing solar systems
Energy Minister Chris Bowen said Labor’s program would help more homes and businesses keep solar energy ‘on tap’ on cloudy days.
‘The contrast is clear – a re-elected Albanese government will take pressure off household energy bills, while Peter Dutton‘s Liberals will spend $600bn on a nuclear plan that drives power bills up,’ Mr Bowen said.
‘We’ve already hit 46 per cent renewable energy under Labor and we’re on track to hit 82 per cent renewable energy by 2030.
‘We can’t afford to risk this progress.’
The Cheaper Home Batteries Program will also feature a $4,000 price cut to the upfront cost of installing an 11.5kWh virtual power plant-ready battery.
That discount would bring the battery installation price down to $9,300, but the saving will be reduced over time in-line as batteries become cheaper.
Labor claimed the incentive would reduce the cost of power for ‘everyone’ as more homes and businesses use solar, rather than pulling from the grid.
The promised subsidy will also apply to the first 50 kilowatts of a 100 kilowatt battery, enough power to run a small business.
Mr Albanese is set to detail the election promise in a speech in the Brisbane electorate of Griffith, a Greens stronghold
However, the scheme will come at a large cost to taxpayers.
They will be expected to front $4,000 for the installation of a solar battery in an average household and $15,000 for a 100 kilowatt battery under the $2.3billion plan.
Mr Albanese is set to detail the election promise in a speech in the Brisbane electorate of Griffith, a Greens stronghold, on Sunday.
More to come…
