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State Labor promises $5,000 home battery rebate to slash bills, soak up rooftop solar - One Step Off The Grid (onestepoffthegrid.com.au)

submitted 4 months ago by Gorgritch_umie_killa@aussie.zone to c/perth@aussie.zone

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Western Australian Labor has unveiled plans to slash the cost of home battery storage, with state government rebates of up to $5,000 per household, or $7,500 for households on the regional Horizon Power grid....

Eligible households would have up to 10 years to repay the no-interest loans of $10,000 or less....

Cook has also promised to invest $50 million of public money to a Battery Manufacturing Program of direct grants and low-interest loans to support the development of a home battery supply chain in the state.

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[–] quokka1@mastodon.au 2 points 4 months ago (2 children)

@Gorgritch_umie_killa What's the ROI on batteries these days? When I've done the maths in the past it just wasn't worth it. A 10 year loan sounds like you'd just finish paying for it when it needs replacement?

[–] kronicd@lemmy.world 2 points 4 months ago* (last edited 4 months ago)

A ten year interest free loan ends up being a massive discount on the battery as inflation and wage growth reduce the real cost of the loan.

Of course this depends on wage growth actually occurring, but that's the theory.

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