If Labour wins next month`s state election, more than 10000 South Australian homeowners will receive interest-free loans to install solar panels or household batteries.
As part of Prime Minister Jay Weatherill`s A $100 million plan, each household can reportedly apply for up to A $10000 in loans, according to reports. This commitment is set out in detail in the Liberal Party`s announcement of the Integrated Defence work Plan.
The day before, the Weatherill pledged a 25 percent renewable energy reserve target to complement the controversial 75 percent national renewable energy target, according to sources. It was Labour`s first commitment to reduce domestic household spending on energy.
Mr. Weatherill has announced a preferential policy to buy electricity in bulk for low-income households in South Australia, and plans to work with Tesla to install solar panels for 50000 homes-but only to spend A $1.5 million on government.
He said more than 33000 South Australian residents had expressed interest in participating in the Tesla virtual power plant project and said renewable energy would reduce electricity tariffs for "all South Australian residents."
Weatherill says it will help households use renewable energy and pay less electricity.
The plan could be a windfall for Australia`s only solar panel maker, Tindo Solar, based in Lake Mawson, as Mr. Weatherill said the plan preferred "home-made products."
The A $100 million government fund will allow homeowners to opt for interest-free loans to install solar panels or domestic batteries, or both.
The costs vary widely depending on the size of the system, but a survey by CHOICE, a consumer group, in 2014 found that once all discounts were removed, its members would have to pay an average of A $8243 for their solar photovoltaic systems.
State government will subscribe to the plan and will oversee the re-established energy and water services sector under the name of Mr. Weatherill.
Interest is not charged for the first seven years of the loan. South Australia leads the country in the number of households with solar photovoltaic systems, with solar panels installed on the roofs of more than 200000 homes.
Mr. Weatherill said a 25 percent target for renewable energy storage, supported by A $20 million subsidies, was key to the shift to an "energy grid".
However, Federal Environment Secretary JoshFrydenberg described it as a "thought bubble", saying the 750MW was a meagre demand for energy reserves. Labour also announced it would build a A $8.3 million solar and battery "microgrid" to power Elizabeth`s former Horton plant.
