As sustainability and energy prices continue to be a growing priority for the federal and state governments, the New South Wales Government is powering ahead with its $3.2 billion dollar clean energy investment program intended to help 300,000 NSW households break into the PV solar and battery market.
After a successful pilot program offered to NSW households who resided in eligible postcodes in the Hunter and the Upper Hunter regions, the NSW Government has now rolled out the incentive to an additional 15 new regions and 204 postcodes across NSW.
The green energy incentive, also known as the “Empowering Homes Solar and Battery Loan Offer”, offers NSW residents an interest-free loan of up to $9,000 towards retrofitting a battery system to an existing solar PV system or up to $14,000 towards installing a solar (PV) and battery system.
The interest-free loan does come with a few terms and conditions, but nothing that will catch you out or leave you feeling as though you have signed your life away, so let’s take a closer look at what’s on offer.
There are two interest-free loans available:
- $14,000 towards a solar PV and battery system (repayable over a range of terms up to 8 years).
- Or $9000 towards retrofitting a battery system to an existing solar PV system (repayable over a range of terms up to 10 years).
What do I have to do to qualify?
- You must live in one of the eligible postcodes listed on the NSW Energy Saver website.
- Have a combined total household income of less than $180,000.
- Own your grid connection home, live in it and have the authority to install the system.
- Satisfy the loan criteria (managed by third-party provider Plenti).
- Use one of four approved solar battery specialists like Sunbank Solar.
So what’s the catch? Well, not a lot to be honest! As the NSW government remains committed to achieving net-zero target emissions by 2050, this is one of many clean energy initiatives introduced by the state government to deliver on that target. As stated by the NSW environment minister Matt Kean, “this will help create jobs, reduce emissions, increase system security and reliability and place downward pressure on the energy costs for everyone”.
With green energy being the ‘talk of the town’, the NSW Government is taking astronomical steps towards unlocking the savings and sustainability benefits offered by solar PV and battery systems for NSW residents who are thinking of investing in a solar battery system, now is the time to take advantage of what is truly a once in a lifetime opportunity.
To learn more about the NSW empowering homes loan offer call Sunbank Solar Batteries on 1300 28 29 30