New Consumer Energy Strategy Targeted At Easing Cost-Of-Living Pressure
NSW has revealed a concrete target to ensure the uptake of solar PV and storage systems with the overarching goal of energy efficiency. Here’s an example of what an average energy-efficient home will look like under the state’s new strategy. (Photo Credit: Common Capital modelling for NSW Department of Climate Change, Energy, the Environment and Water, 2024)
Key Takeaways
- NSW has devised its new Consumer Energy Strategy to boost its energy transition efforts
- It targets 1 million households and businesses to install solar PV + BESS systems
- If connected to VPP, such systems will be eligible for financial incentives as well
The Australian State of New South Wales (NSW) has set itself a new target to equip 1 million households and small businesses with both a rooftop solar and battery energy storage system (BESS) by 2035. It will expand to nearly 1.5 million by 2050, under a new program.
The Consumer Energy Strategy: Powering our People and Communities plan will provide AUD 290 million ($196 million) in funding for 50 actions, including the rooftop solar and BESS target, to help the locals reduce their energy bills and ease the pressure of cost of living.
From November 1, 2024, the state will offer incentives of AUD 1,600 to AUD 2,400 ($1,081 to $1,621) to purchase solar batteries. Customers will be eligible for an incentive of AUD 250 ($169) to sign up to connect their solar and battery systems to a virtual power plant (VPP). The target is to ensure 3.4 GW of VPP participation by 2035, and 10 GW by 2050.
NSW Premier Chris Minns said, “Through the strategy, we are making it easier for households and small businesses to access the cost saving benefits of solar panels, batteries and heat pumps, while they reduce their emissions. Having more energy saving technologies in homes and small businesses is the best way to help households and small businesses reduce energy bills, reduce emissions and improve electricity grid reliability.”
The other features of this strategy include developing a new incentive and rebate scheme to help households upgrade to energy-saving technologies. This program will be rolled out by the end of 2025 with an AUD 238.9 million ($161 million) new Home Energy Saver Program with financial support for eligible households.
NSW is already speeding up utility-scale renewable energy projects with its 5 Renewable Energy Zones (REZ). Recently, it attracted 15 GW worth of generation and storage projects for the South West REZ, 4x the indicative target for access rights (see 15 GW Generation & Storage Projects For NSW’s South REZ).
Source from Taiyang News
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