The NSW government is leading the charge towards a more sustainable, affordable energy future with the release of its new Consumer Energy Strategy. This ambitious plan, backed by $290 million in funding, is set to revolutionise how households and small businesses across the state access and utilise renewable energy technologies.
With a focus on making energy-saving technologies like rooftop solar and battery storage more accessible, this strategy is designed to help lower energy bills, ease cost-of-living pressures and move the state closer to achieving net-zero emissions.
But what might it mean for you specifically? Let’s take a look.
What is the NSW Consumer Energy Strategy?
The NSW Consumer Energy Strategy outlines a clear and actionable path towards a more energy-efficient and sustainable future. Here’s a quick breakdown of the important aspects:
- Total funding: $290 million.
- Incentives & rebates: Significant financial support to help reduce the upfront cost of upgrading to energy-saving technologies.
- Programs in development: Programs like the Home Energy Saver initiative are on the horizon.
- Social housing upgrades: Investment in energy efficiency upgrades for social housing, including trials of virtual power plants (VPPs).
- Electric vehicle (EV) charging investment: $200 million for the development of public EV charging stations across NSW.
- Battery incentives: Launching November 2024, with up to $2,400 in incentives for solar batteries and additional support for joining virtual power plants (VPPs).
What programs and incentives does the strategy include?
Solar for apartment residents
Until now, many apartment dwellers have found it difficult to benefit from rooftop solar systems. But, under the NSW Consumer Energy Strategy, the state government is launching a $30 million program in partnership with the federal government to help apartment residents invest in solar systems and reduce their power costs.
Energy bill rebates and debt relief
For those struggling with high energy bills, the strategy provides $435.4 million in annual energy bill rebates and debt relief. This is an important measure for low-income households, aimed at reducing financial distress while still encouraging energy savings.
Social Housing Energy Performance Initiative (SHEPI)
By 2027, 24,000 social housing homes will benefit from energy efficiency upgrades that should improve comfort, reduce bills and lower emissions.
The NSW Government is also piloting virtual power plants (VPPs) and home electrification in select social housing locations so that everyone can benefit from the transition to sustainable energy.
Learn more: What are VPPs, and are they worth it?
Appliances and equipment upgrades
Homes and businesses alike can receive financial incentives for upgrading to energy-efficient appliances. From lighting and heat pumps to pool pumps and water heaters, there are plenty of opportunities to improve energy efficiency while benefiting from government support.
For businesses, the same applies to upgrading motors, fans and pumps – reducing operating costs while increasing energy efficiency.
Battery incentives (coming soon)
Starting from November 2024, households will be able to access incentives ranging from $1,600 to $2,400 for purchasing solar batteries, with an additional $250 incentive for signing up to a VPP. This is a fantastic opportunity to begin storing excess solar energy and either using it during peak demand periods or selling it back to the grid.
Home Energy Saver (Coming Soon)
Launching in mid-2025, the Home Energy Saver program is backed by $238.9 million and aims to help NSW residents lower their energy bills and carbon emissions. Consultations with the community are underway to make sure the program is tailored to the needs of both households and small businesses.
Community energy projects (coming soon)
Another exciting development is the government’s $5 million commitment to supporting community energy projects. These projects will empower local communities to generate their own energy and benefit from lower bills and emissions.
Energy-saving tips for NSW residents
With the NSW Government’s strategy laying the groundwork for a cleaner energy future, it’s worth considering how you can make the most of these opportunities in your home or business:
1. Switch to rooftop solar: Rooftop solar systems are now more affordable than ever. They can help reduce your reliance on grid electricity and save on energy bills over the long-term, with the expectations that you’d make back the cost of the system in energy savings.
2. Install battery storage: By adding battery storage to your solar system, you can store excess energy generated during the day to use during peak times or power outages – significantly reducing your reliance on grid electricity.
3. Upgrade to energy-efficient appliances: Take advantage of government incentives to replace old, inefficient heat pumps and other appliances with new energy-efficient versions.
4. Consider an electric vehicle: If you’ve ever thought of buying an EV, remember that NSW is investing heavily in EV charging infrastructure so now could be a great time to make the switch and lower your transport emissions.
5. Monitor your energy usage: Smart metres and energy monitoring apps can help you track your consumption and identify ways to reduce waste.
Learn more: How combining solar panels and battery storage can save you money
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