$100m cheap so­lar loans

Sunday Mail - - NEWS - MATT SMITH NA­TIONAL AF­FAIRS ED­I­TOR

HOUSEHOLDERS would get ac­cess to $100 mil­lion worth of low-in­ter­est loans to help pay for so­lar pan­els and bat­tery sys­tems un­der a fi­nance plan be­ing de­vel­oped by the state and fed­eral gov­ern­ments.

The Fed­eral Gov­ern­ment’s Clean En­ergy Fi­nance Cor­po­ra­tion has signed a mem­o­ran­dum of un­der­stand­ing for a loan deal to un­der­pin the State Gov­ern­ment’s new $100 mil­lion house­hold bat­tery re­bate scheme.

Un­der the State Gov­ern­ment’s scheme, which is to be launched next month, an es­ti­mated 40,000 house­holds would be able to re­ceive a max­i­mum $6000 grant to buy a smart bat­tery to store their so­lar power.

The Com­mon­wealth fi­nance will ex­tend the loan as­sis­tance to so­lar pan­els, as well.

En­ergy Min­ster Dan van Holst Pellekaan, who is fine­tun­ing the specifics of the fi­nance deal with the cor­po­ra­tion, said that it would help pro­vide more af­ford­able, re­li­able, and se­cure en­ergy to res­i­dents.

“In work­ing with the cor­po­ra­tion, we ex­pect to be able to fur­ther as­sist house­holds over­come the up­front fi­nan­cial bar­ri­ers to ac­cess­ing stor­age tech­nol­ogy by of­fer­ing house­holds com­pet­i­tive, flex­i­ble loans where needed, in ad­di­tion to the sub­si­dies,” he said.

CEFO chief ex­ec­u­tive Ian Lear­month said the deal would al­low South Aus­tralians to ac­cess tai­lored fi­nance for their home-en­ergy stor­age sys­tems.

Home bat­ter­ies re­tail for about $10,000, al­low­ing backup dur­ing black­outs or load­shed­ding, as well as the abil­ity to store en­ergy and sell it back to the grid. The State Gov­ern­ment bat­tery sub­sidy scheme – a ma­jor plank of its elec­tion bid – will be scaled in line with the size of the home bat­tery sys­tem be­ing in­stalled.

Low-in­come house­holds el­i­gi­ble for an en­ergy con­ces­sions dis­count card will get an ad­di­tional 20 per cent sub­sidy.

The deal means a large bat­tery pro­vid­ing 10kWh of stor­age could re­ceive a $5000 sub­sidy or up to $6000 for con­ces­sion hold­ers. A small bat­tery with 5kWh of stor­age per house­hold could re­ceive a $2500 sub­sidy or a $3000 sub­sidy for con­ces­sion hold­ers.

Pic­ture: ELISE DERWIN

CON­VIC­TION: Orig­i­nally from Port Augusta, Na­tion­als MP Kevin Ho­gan now makes his home in Lis­more in north­ern NSW.

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