News

NSW Solar Battery Rebate – All You Need to Know

The NSW solar battery rebate is fantastic news for homeowners and businesses. Here is what you need to know based on information the NSW government has released. No doubt some details here may change before the scheme starts on November 1, 2024.

The scheme will reduce the cost of batteries for householders and businesses looking to save on their electricity bills.

Introduction to the NSW Solar Battery Rebate

The battery rebate is a monetary incentive from the NSW government to lower the cost of batteries so more are installed.

Here are the key things to know:

PDRS = Peak Demand Reduction Scheme – this is the official name of the solar battery rebate in NSW. As you might guess it is all about installing more batteries to reduce peak demand on the power grid.

PRC = Peak Reduction Certificate. These are the battery rebate certificates that are issued for each battery installation.

VPP = Virtual Power Plant. A VPP is a program that solar battery owners can sign up to. It means that in times of peak electricity demand on the grid the VPP operator can take the power stored in your battery. They pay you for it and feed it into the grid to meet the grid demand. This is the second part of peak reduction.

How Much is the Solar Battery Rebate NSW Worth?

If you qualify, the battery rebates will be worth:

Savings of $1,600 to $2,400 on the cost of a battery.  The rebate depends on the size of the battery and the geographic location. The solar needs to be in place when the battery is installed. A 10kWh battery will have a rebate of $2,000.

Rebates of $250 to $400 if you connect to a VPP. To get these your battery must have 6 years warranty left when you sign up (most come with 10-year warranty). Over the life of the battery, you can claim these only twice and there must be a 3-year gap between applying.

One important point to consider is VPP’s are a great concept. However, it may affect the warranty if the battery is cycled (drained and charged) multiple times a day as it can shorten the battery life.

You Need to Act Now if You Don’t have Solar Installed

How To Qualify for the Solar Battery Rebate

To qualify for the NSW government rebate, we understand that:

• If you already have solar panels, you’re eligible for the battery installation rebate.
• If you don’t have solar panels yet, the battery incentive can be included in the quote for a new system that has solar panels and a battery. The solar must be connected to the grid first before the battery is installed. DO NOT wait to November to order your solar and battery.

• It must be a new battery on the scheme’s approved battery list – existing batteries don’t qualify.
• If the property already has an existing battery, a new battery installed at the same address will not qualify.
• Use a program approved CEC certified solar installer.
• If you want the VPP rebate the battery must meet the 6-year battery warranty requirement.

Can I Secure the NSW Solar Battery Rebate Now?

Yes you can. If you wait to November 1st you will be caught in the log jam of customers. You can act now to avoid delays.

You can order your solar and battery system off SolarBright now at the rebated price.

CLICK HERE to find out how to secure the battery rebate now.

What Solar Batteries Qualify for the Rebate?

The batteries on the approved list will have to meet certain specifications including:

• Storage size between 2 and 28kWh.
• 10-year product warranty.
• Operate in a temperature range of -10 to 50°C.
• Usable capacity of at least 70% after 10 years.
• Have a battery management system and internet connection for control and monitoring of the battery and allowing the battery to connect to a VPP.

It seems likely that all current CEC approved batteries will be eligible for rebates (to be confirmed).

How to Get the Rebate

The process of getting the rebate PRC’s is handled by the solar installation company.

• The battery quote will include details of the number of PRC’s applicable and PRC value.
• This amount is taken off the price of the battery for the customer and forms the rebate.
• The solar installer will apply for the PRCs, provide proof of installation, and receive the PRC’s, just like with the STC’s for the solar.
• PRC’s are subject to market fluctuations and are valued currently around $1.60 each (Aug 1 2024).

Prepare Now for the Home Battery Rebate in NSW

With the new incentives launching on November 1, 2024, it’s a smart idea to start planning now. Avoid the mad rush in November.

• Research: Look into battery options from CEC accredited installers. Prepare questions to ask about the incentives and the installation process.
• Get Solar Now: if you don’t have solar do not wait to November 1 to order your solar and battery. Order now or you will be jammed into a long queue of customers waiting for both solar and batteries. The solar can be installed now ready to take the battery after Nov 1 so you get the battery rebate.
• Budget: Factor the rebate into your budget. While the upfront cost of battery storage can be substantial, the long-term savings on energy bills make it a worthwhile investment.
• Act Early: Given the potential increase in demand and the possibility of price adjustments, it may be beneficial to start the process early to secure the best deals and avoid delays.
• Solar Rebates Fall in January: Keep in mind the solar system rebate (STC’s) decreases on 1 Jn 2025. This means that if your solar installation is still in the ques you will pay more for the solar system.

Why Consider the Solar Battery Storage?

Adding battery storage to your solar system offers several benefits:

Maximise Solar Energy Use: Batteries store excess solar energy generated during the day for use during the evening or cloudy days, helping you make the most of your solar investment.

Reduce Electricity Bills: By storing solar energy and using it when electricity prices are high, you lower your energy costs significantly.

Gain Energy Security: a solar battery reduces your reliance on the grid and helps you maintain power during outages.

Support a Sustainable Grid: Batteries contribute to a more reliable and stable energy grid, helping to manage peak demand and reduce overall emissions.

How SolarBright Can Help

The team at SolarBright is committed to helping you understand the new NSW battery rebates and make the most of your solar investment. Book a meeting with one of our solar experts, they will design the right solar and battery system for your needs. Our team will assist you with:

Understanding Incentives: We’ll explain how the new battery incentives work and how you can benefit from them.

Choosing the Right System: We’ll help you select the best battery and solar system for your needs and budget.

Accredited Installation: Our CEC accredited installers ensure a seamless and efficient installation process, applying the incentives directly to your costs.

Ongoing Support: From initial meeting to post-install support, we’re here to answer your questions and ensure you’re satisfied with your solar and battery system.

Get Started Today

The new battery rebate scheme is an exciting opportunity to help secure your energy future and reduce your electricity bills. Don’t miss out on the chance to take advantage of these savings. Contact SolarBright today to see how you can benefit and start your journey towards energy independence and sustainability.