Major Australian electricity gen-tailer EnergyAustralia says residential customers are lining up to apply for its new home solar and storage plan, which offers to install and manage a rooftop PV and battery system for no up-front cost.
In an announcement accompanying the official launch of the Solar Home Bundle, EnergyAustralia says it had seen a “significant monthly increase” in solar enquiries, including a “staggering 95% uptick” in applications for the Solar Home offer over the past four weeks.
The gentailer says it started running small trials of the product in September 2021, the success of which prompted it to offer it to a broader range of customers in New South Wales, to start with, and then in other eastern state markets.
The Solar Home Bundle is being offered as part of a seven-year plan, where the customer pays a fixed usage rate for electricity – consumed from both the system and the grid – in return for solar panels, inverter and 10.1kWh battery installed at no upfront cost.
EnergyAustralia uses smart software to manage the household’s power supply from the grid, solar and battery, which can also be used to help support the grid as of the gentailer’s Virtual Power Plant.
At the end of the seven-yar period, ownership of the entire “tier one” system is transferred to the customer.
The official launch of the product, which was named as a finalist in Finder’s 2021 Innovation Awards, comes as fossil fuel inflated wholesale electricity prices start to bite for consumers, and as an increasing number of smaller retailers struggle to survive the market chaos.
These conditions are expected to drive more and more households to invest in solar and battery storage, but other cost of living pressures, including the threat of further hikes to interest rates, are potentially putting a dampener on home energy investment.
“We believe the Solar Home Bundle changes the landscape for people wanting to enter the renewable energy market now. It puts transitioning to a solar and battery system in the home, within reach,” said EnergyAustralia chief customer officer, Mark Brownfield.
“Australians have for some time faced a significant barrier to their renewable energy aspirations – buying solar and batteries outright has been cost-prohibitive, not to mention confusing for many.
“Our customers have told us this is a terrific initiative, especially for families with adults working from home and kids who love their devices. They love that they’re being environmentally friendly by powering their home with the help of the sun.”
Applications for the Solar Home Bundle are subject to eligibility criteria and a household’s suitability for solar and battery storage. See here for details.