Queensland launches battery grant and loan scheme

Queensland Minister for Natural Resources, Mines and Energy Anthony Lynham said that the scheme would offer 1,500 interest-free loans and grants of $3,000 to assist with the purchase and installation of battery-only or combined solar battery systems.

Up to 1,000 interest-free loans valued at $10,000 or less (for 10 years) are on offer for combined solar battery systems, and 500 interest-free loans valued at $6,000 will be provided for battery-only systems.

To be eligible for an interest-free loan, the applicant must be the owner or joint owner of their home and not have an existing solar system installed, while small businesses can only apply for a grant, provided they consume no more than 100 mWh per year and employ less than 20 full-time employees.

The Queensland government also provided a list of eligible battery systems, which includes Alpha ESS, Evergen Equinox, LG Chem RESU, Redback Technologies Smart Hybrid, SolaX Triple Power, sonnenBatterie Eco and Tesla Powerwall 2.

The scheme is intended to encourage households and small businesses in Queensland to switch to renewable energy systems to reduce energy costs and lower carbon emissions.

The Energy Minister said that Queenslanders who invest between $2,000 and $3,000 of their own capital towards the cost of a renewable energy system could save up to $400 in energy costs a year, even with the interest-free loan repayments.

According to the state government, Queensland currently has approximately 2,500 battery storage systems installed and around half a million rooftop solar systems.

The Palaszczuk government has set a statewide target of 1 million rooftop solar systems, or 3GW of installed capacity, by 2020, and had surpassed 2GW in March.

“Just as we have one of the highest penetrations of rooftop solar in the world, we are aspiring to be a world leader in battery storage,” Minister Lynham said.

The Energy Minister also noted that Labor’s energy policies have generated an estimated $2 billion worth of private investment in solar from households and small business.

Similar loan and subsidy schemes have been launched in the Australian Capital Territory, New South Wales, South Australia and Victoria.

[Related: RateSetter to deliver CEFC loan scheme]

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