nsw-battery-rebate-2024-install-solar-and-battery-now-and-save
We have been waiting quite some time and as I have told our existing customers, a rebate was due and it’s finally here…. well almost.
The NSW Government have finally announced new incentives to install residential battery storage, called the Peak Demand Reduction Scheme. As of November 1st 2024, you will be available to take advantage of installing solar and battery with the existing solar rebate and the new battery rebate or adding a battery to an existing system. The three main reasons for this are:
- To make batteries more affordable
- To take the strain on the existing infrastructure off at peak time for solar.
- Continue to reduce emission targets and reach net zero by 2050
The two incentives are:
- between $1600 to $2400 off the up-front installation costs of a battery for homes and businesses with existing solar, depending on the size of the battery
- between $250 to $400 for connecting your household or business battery to a Virtual Power Plant (VPP). This incentive is available twice, a minimum of 3 years apart.
For the example…..
If you install a 13.2kW solar system, with the current STC price of $38.50, you will receive $4889.50 off the total price of solar…
Now adding a battery to this on or after Nov 1st could save you an additional $2400 plus if you sign up to a VPP a further $400.
Total savings… $7689.50
Now this is somewhat speculative because we are unsure on what storage size will apply to the highest rebate as is the same with the VPP connection however the variable between the lowest and highest incentives is only $950.
What the hell is a VPP?
A VPP or Virtual Power Plant, is essentially an operator who has control over their customer’s batteries and charges/discharges them as required by the grid. This helps to avoid disruptions and disturbances with grid outages. To gain access to the second incentive, the customer must sign up to a VPP. Most VPPs have specific brands of batteries you need to install to join. We will have another article about VPPs and options available.
Who is Eligible?
There is a few boxes to tick to be able to claim but essentially anyone with an existing solar system without a battery connected to it qualifies and everyone without any solar also qualifies. You CANNOT claim an existing battery installed prior to Nov 1st. The only way to receive any incentive with an existing battery installed is join a VPP starting Nov 1st.
Eligibility for new battery installations ($1600-$2400)
- Have an existing solar system without battery storage
- Battery must be between 2-28kWh.
- Install an approved battery from the product list as specified by the scheme administrator (yet to receive this list)
- Must be internet connectable and controllable by a Demand Response Aggregator.
- Battery must have a 10 year warranty with atleast 70% retained storage after this period.
- Be connected to the grid (offgrid jobs do not qualify)
- Equipment warranty must define the normal use conditions during the operation of the End-User Equipment as not being less than:
a. A minimum ambient temperature range of -10 °C to 50 °C
b. A minimum warranted throughput of 3.65 MWh per kWh of Usable Battery Capacity
Eligibility for VPP incentive ($250-400)
- Have an existing solar and battery system installed
- There must be no life support systems used on site
Demand Response Aggregator are grid operators who reduce or shift the demand for electricity or to help keep the grid stable.
How do I book my installation with Zeneco?
- Contact us and we can help determine whether the option is right for you and confirm your availability. There are a few key factors that will determine whether a battery is right for you, we can explain them.
- Book a site inspection. This will help us determine the work required and the the most appropriate location to install the battery.
- Book the installation. We look after all the paperwork regarding any incentives that apply to you. Installation dates will most likely fill up very quickly in 2024 so please contact us for dates.
- Join a VPP. It ill be as simple as creating a new plan with any of the existing retailers out there.
