Cut the cost of your solar – Everything you need to know about the latest NSW solar battery rebate

20 August 2024 | Written by redback | Home Battery

With the NSW Government bringing in new incentives for home and business owners who install solar batteries with their new or existing rooftop solar system, it’s never been a better time to consider solar for your property and cut the cost of your electricity bill.

The latest solar battery rebate in NSW aims to make the state’s solar grid more stable and reliable by reducing energy demand during peak periods, while also minimising fossil fuel output.

What incentives can I receive under the scheme?

From 1 November 2024, the NSW Government is introducing a new incentive for the installation of solar batteries. Homes and businesses with a rooftop solar system will be eligible for the Peak Demand Reduction Scheme (PDRS) when installing residential battery storage and connecting to a Virtual Power Plant (VPP) through an accredited solar supplier.

If eligible, you could receive:

between $1600 to $2400 off the installation costs of solar batteries to your existing solar setup for your home or business, depending on the size of the chosen battery.
between $250 and $400 off the cost of connecting your home or business to a Virtual Power Plant (VPP). This incentive can be redeemed twice, a minimum of three years apart.
if your home or business doesn’t currently have a solar system installed, the discounts can be added to a quote for a new rooftop solar and battery system installation.

What is the Peak Demand Reduction Scheme?

The Peak Demand Reduction Scheme (PDRS) was introduced in NSW to help reduce the demand for electricity during peak periods. By offering households and businesses an incentive to decrease their electricity consumption during periods of high demand, the scheme aims to help lower the overall cost of electricity and reduce the risk of power outages.

Households and businesses are offered financial support to install air conditioners, residential solar batteries, pool pumps, commercial refrigerated cabinets and large heat pump water heaters. With the latest solar battery rebate, this list will now include residential battery storage and connection to a Virtual Power Plant.

The scheme hopes to save NSW residents and business owners around $1.2 billion on their electricity bills between 2022 and 2040, help reduce emissions by 70% by 2035 and achieve net zero by 2050.

How do I apply for the latest NSW solar battery rebate?

Make sure to check the NSW Government website to confirm you are eligible for the incentive.