Home batteries are now much cheaper under Australia’s rebate, but getting together the up-front cash necessary to buy a system will still be a struggle for some who want one. Rewiring Australia says government-backed loans are key to unlocking battery benefits for more Australian households.
How Would An “Electrify Everything” Loans Scheme Work?
Rewiring Australia was founded by engineer and entrepreneur Dr Saul Griffith in 2018 with the goal of accelerating emissions reduction in Australia by making home electrification easier. Among its initiatives is Electrify 2515, a demonstration project supporting hundreds of households in New South Wales’ 2515 postcode area to take their homes fully electric.
While welcoming recent changes to the Cheaper Home Batteries Program (CHBP) rebate that will take effect next year to ensure it can continue until its originally intended finish date, Rewiring Australia CEO Francis Vierboom highlighted the need to ensure more households are able to participate in the scheme.
“While it’s a pleasing development, upfront cost remains a major barrier, especially for lower-income households, renters and people living in apartments.”
Vierboom says the rebates should be complemented by accessible finance; using the example of the organisation’s proposed loan scheme.
Rewiring Australia’s Electrify Everything Loans Scheme (EELS) was developed in collaboration with the architect of Australia’s HECS (Higher Education Contribution Scheme), Dr Bruce Chapman. Under EELS, the federal government would offer inflation-indexed, deferred repayment loans secured on a property’s title for the purposes of installing equipment such as solar systems, batteries, and efficient electric appliances; or necessary related improvements such as switchboard upgrades. These loans would be repaid when the property is sold.
In terms of supporting renters, landlords could also access EELS to upgrade rental properties without paying upfront.
“This approach allows households to benefit from electrification without large upfront costs and, unlike time-limited subsidies, provides an ongoing pathway so the transition is not restricted to those who can already afford it,” said Vierboom.
Furthermore, Rewiring Australia says the Small-scale Renewable Energy Scheme (SRES) — under which the national solar panel rebate and now CHBP operate — could be further strengthened by supporting a wider range of households and technologies. These include standalone batteries for apartments without rooftop solar panels and vehicle-to-grid (V2G) equipment. And as SolarQuotes’ Anthony recently mentioned; including electric vehicles should be considered.
How Much Does A Home Battery Cost After The Rebate?
Home battery system costs vary greatly depending on the brand, model, features, capacity (how much energy can be stored) and installation scenario. The Cheaper Home Batteries Program rebate is based on an eligible system’s useable capacity, with the level of support reducing over time.
A 10 kWh solar battery (not big by current standards) costs around $4,000 – $7,000 currently after the federal rebate; but then there’s installation costs that can be substantial. A straightforward installation can add a couple of thousand dollars; and a complicated install $3,000 or more.
A couple of example costs in 2025 for slightly larger fully installed systems (and these aren’t necessarily product recommendations):
- Budget: AlphaESS Smile5 (13.3 kWh): $6,600.
- Mid-range: Sungrow SBR (12.8 kWh) $7,000. This also requires a hybrid inverter, so add another $2k – $3k.
- High-End: Tesla Powerwall (13.5 kWh) $11,650.
Dirt-cheap big home battery bundles have also appeared on the market. For example, and again not necessarily a recommendation, VoltX Energy has been offering a *50 kWh* Neovolt home battery system including a 10 kW single-phase inverter from $7,500 to eligible homeowners in NSW, SA, and QLD. And I noticed another current deal offered by the company for selected eligible postcodes in NSW — a 50- kWh battery from $3,999. But the system only has a 5 kW inverter, which is undersized.
Even at such low prices, it’s still a significant up-front chunk of change to pull together during these particularly challenging times and will remain a barrier for many households.
On a related note, learn about solar financing options — and how to avoid the tricks and traps.
About Michael Bloch
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