Slashing Brisbane Household Energy Bills Through Full Electrification

A new report estimates the huge energy bill savings to be had by Greater Brisbane households through switching out fossil fuels to electrifying everything.

Released by Rewiring Australia yesterday, the report indicates electrifying households across Greater Brisbane by 2030 would see the average household save $4,700 a year – and the flow-on effects could spark the indirect creation of up to 24,100 new jobs. Overall, annual savings amount to $3.9bn across all households in the region.

Furthermore, full electrification of Brisbane households using technologies available today and almost entirely off-the-shelf would slash the region’s emissions by 42.4%.

The transition would involve swapping out gas appliances with their electric counterparts, ditching internal combustion engine (ICE) cars for electric vehicles, and installing solar panels and home batteries. This would create a local jobs bonanza for the installation of solar gear, electric vehicle chargers, heating/cooling systems and cooktops.

Addressing The Cost Of Full Electrification

It all sounds pretty pricey for households in terms of purchases; particularly with an EV or two thrown in – and it will be. But Rewiring Australia models the economics of electrification on the basis that households won’t have to pay up-front to make the switch. The savings modelled take into account the upfront costs of purchases and are based on the assumption the items are financed over the lifetime of the asset.

“In the early years of the transition, governments will have to step in and provide co-finance like they already do for large-scale clean energy,” states the report. “Government support is essential in helping all homes, including low-income households electrify and save money on the cost of heating, cooling, cooking and driving.”

The four steps to achieve full electrification by 2030:

1. 2022 – 2025: Pilots to showcase the technology
2. 2022 – 2030: Subsidies to bring down costs and scale up the industry
3. Training to build the workforce
4. Deregulation to-cut the brown tape holding back solar, energy storage and EVs

Greater Brisbane has been defined Federal Electorates of Longman, Dickson, Petrie, Lilley, Ryan, Brisbane, Griffith, Bonner, Moreton, Oxley, Rankin, Bowman and Forde; with breakdowns of benefits for several electorates in the document.

You can download the full Rewiring Greater Brisbane report here and for a bigger picture across Australia, there’s the Rewiring Australia Castles And Cars report (technical study here).

Making A Start Now – With Solar Power

Brisbane households don’t need to wait for the Government to get into gear on supporting full electrification to start slashing their electricity bills. A 6.6kW solar system installed in Brisbane could generate savings of around $1,500 in the first year and achieve simple payback in 4 years, 9 months.

To estimate the savings a system could provide in your circumstances, try the SolarQuotes solar calculator – it’s very quick and easy to use. If you’re also keen on installing batteries, the calculator can show you how savings are affected by a battery and solar panels separately.

There are a bunch of great solar installers in Brisbane and if you don’t have the up-front cash to install panels, pick up some tips on financing a solar power system.

Original Source: https://www.solarquotes.com.au/blog/rewiring-greater-brisbane-mb2467/