Ahead of the upcoming federal election The Greens have committed $8 billion to assist households and enterprises in obtaining residential battery storage systems for solar power and transitioning to exclusively electric devices.
This initiative would provide home installations with battery storage access to grants of up to $5000 and low-interest loans of $10,000. Meanwhile, small enterprises could receive grants worth $10,000 or opt for low-interest loans amounting to $50,000.
Families would gain access to $10,000 grants along with $20,000 in low-interest loans aimed at installing suitable equipment like induction stoves and heat pumps, facilitating their transition away from gas appliances. For smaller enterprises, these amounts increase to $25,000 and $100,000 respectively.
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The Greens stated in a release that assisting individuals to switch to electric systems at home is among the most cost-effective methods for decreasing emissions and would yield the highest advantages for families.
In total, the party claims that the policy would amount to an expenditure of $8.1 billion.
In the long term, according to the Greens, the advantage would be lower electricity bills moving forward.
"Not only will this lead to genuine reductions in pollution, but it will also result in sustained decreases in people’s electricity costs year after year," stated Greens leader Adam Bandt.
“I’m hoping this initiates a competition for excellence. I encourage others to strive to surpass this policy,” Bandt stated.
Implementing this could be one of the most effective ways for us to provide assistance with daily expenses.
Australia leads globally in residential solar power installations with approximately 3.8 million houses equipped with panels but lacking energy storage systems.
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The Sydney-based president of Climate Action Burwood, Ken Enderby, currently utilizes electric devices along with an electric vehicle, all powered by his solar panels and battery system.
"The electricity is generated, yet it doesn’t reach the places truly in need of it; these areas require more power during late afternoon and early evening. The sole method to achieve this is through the use of batteries," he explained.
Several standalone parliament members have expressed backing for residential battery systems.
As electricity costs are poised to increase once more, leading political factions are getting ready with their rooftop solar initiatives to unveil them throughout the upcoming electoral race.
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