Queensland’s 2024 Battery Rebates Could Give 5 Year Battery Payback

A pair of Powerwalls in Toowoomba, QLD. (Installation Credit: Green Solar)

With the resignation of Premier Annastacia Palaszczuk providing a first-rate distraction, Queensland last week joined the ranks of Australian states supporting home solar battery storage with a rebate program.

Rebates of up to $4,000 will be available to Queensland households under the Battery Booster Rebate Scheme, with the federal and state governments providing $24 million under a 50:50 split to support the program.

If the taxable income of the income earner for the application is over $66,667, the rebate is reduced to $3,000.

SolarQuotes estimates the first-year savings for a $10,000 10 kWh installation at $850 for a flat tariff in QLD and $1,248 for a time-of-use tariff. If reduced to $6,000 by the full rebate, it gives a simple battery payback of 7 years on a flat tariff and 5 years for those on a time-of-use tariff.

While the program’s start date hasn’t yet been announced, the government quietly published the legislation enabling the scheme last week.

“The purpose of assistance under the scheme is to give individual owners of residential premises a rebate to offset the cost of having an approved battery system suitably installed at the premises,” the introduction to the legislation states.

According to the ABC, which covered the scheme here, the state government has based the rebate on a cost of battery + installation in Queensland of more than $9000.

The scheme will be open to individual homeowners with a combined household income below $180,000 a year, with approved batteries to be supplied by approved installers.

The legislation says:

approved battery system means a battery energy storage system that is included in the list of systems approved, for the purposes of the scheme, on the electricity department’s website.

and

approved installer means an installer of approved battery systems at residential premises who is included in the list of installers approved, for the purposes of the scheme, on the electricity department’s website.

So it appears the QLD Government will maintain those lists.

Energy Minister Mick de Brenni told the ABC the scheme would begin in 2024.

Victoria is the only state with a current solar battery support scheme. That state offers Solar Battery Loans of up to $8,800, with more than 2,900 loans still available.

The government hasn’t announced caps for the scheme, but this tender for the scheme’s inspectorate, says “up to 2,500 inspections across Queensland will be required”.

The Inspectorate will be responsible for ensuring the safety and quality of installations and educating installers on industry best practice and battery safety risks.

Original Source: https://www.solarquotes.com.au/blog/battery-rebates-queensland-2024/