Almost one in every three Australians feels overwhelmed by the process of choosing and installing a solar battery even as demand for the technology grows in the lead-up to a national rebate scheme.
More than half of all Australians are also put off by the cost of the technology, a study has found, despite falling prices and low-interest loans.
The Commonwealth Bank and finance firm Brighte released the findings on Monday while launching a Home Energy Upgrades Service designed to provide advice and quotes for households investigating energy upgrades.
Their announcement comes one week before Energy Minister Chris Bowen launches the federal government’s $2.3 billion Cheaper Home Batteries Program that promises to deliver a discount of 30 per cent on the cost of installing a battery.
Despite the rebate, a survey of more than 2000 Australians conducted by Pure Profile found 30 per cent felt overwhelmed by the process of having a battery installed and 52 per cent considered the up-front cost too high.
Many factors could be serving to confuse consumers, Commonwealth Bank general manager Joel Larsen said, from working out what size of battery would work best for their home to how soon the technology could turn a profit.
“The technology aspects of it around battery storage, capacity, and solar production capability can overwhelm the average consumer,” he told AAP.
“We know what people are really looking for is a payback period.”
In addition to questions about financial returns, government incentives can also be tricky to identify.
While the federal scheme allows consumers to “stack” rebates, only Western Australia will have a battery rebate in place after July, with incentives up to $7500 depending on a household’s energy provider.
Some states and territories including Tasmania and the ACT offer no-interest loans, however.
The Commonwealth Bank will also offer discounted loans and a $1500 rebate to its home loan customers seeking to install batteries, solar panels or EV chargers, Mr Larsen said, and he expected plenty of interest, particularly from households with solar panels already installed.
“More and more Australians are looking to take up home energy services and really reduce their expenses when it comes to energy bills and utilities,” he said.
“We’ve seen a pretty significant increase in the number of customers coming to us post the federal election and I expect that will continue to grow.”
A recent Climate Council report found 300,000 Australians homes had a battery installed, although that represented only eight per cent of the four million homes with solar panels.
More information and advice about installing solar batteries would be required to ensure Australians could be confident in purchasing the technology, Climate Council spokesman Greg Bourne said.
“An educational process has to come before people spend hard-earned cash,” he said.
“Even with a subsidy there are still so many offers that go out that people do need to (educate themselves).”
Source: AAP
