While New South Wales’ battery rebate is still some way off, you may be able to pick up a bargain in the interim. But be careful.
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UPDATE 30 October 2024: – read the latest about this incentive on our NSW battery rebate information page.
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In late May, the NSW Government announced a home battery subsidy – generally between $1,600 and up to $2,400 off the up-front cost of a system. The problem is it won’t be available until November. Solar households may be happy to wait to get such a generous subsidy, but the situation has created challenges for NSW battery installation companies as some orders were cancelled and there’s been fewer sales enquiries as folks hold off.
So, when the going gets tough, the tough get discounting. I came across a campaign yesterday from a NSW firm that was offering their own “cashback” scheme. The customer pays full price for a battery installation and is promised $1,600 cash back. The offer involves a battery and installer I’m not familiar with, so I can’t comment one way or another as to whether this may be a good deal.
But it’s a signal that other companies might be a bit more flexible on pricing while the industry is in a “valley of death” type situation. It could be a good time to negotiate a deal.
The Risks Of Waiting For The NSW Battery Rebate
With 3 months to go before the NSW battery rebate kicks off, there’s a lot that could happen between now and then. There is confusion as to what the scheme will look like when it reaches prime time.
For example, eligible batteries must be listed on an approved product list yet to be specified by the Scheme Administrator. While Clean Energy Council approved batteries may automatically qualify as approved products, I don’t think this is set in stone and criteria as at June could knock some popular models out of the running.
Another issue is if you’re waiting for the calendar to flip over to November, you won’t be the only one. It’s heading into a busier time of the year for solar installations generally and this battery rebate going live could result in a rush. A rush means installation backlogs and potentially all sorts of related chaos, and lengthy installation delays will mean missed savings. Additionally, supply and demand issues could mean prices could go up; eating into the subsidy.
The Risks Of Pre-Subsidy Company Cashbacks
Where one company has gone, others may follow; offering their own pre-rebate cashback offers. These offers won’t undergo the same scrutiny or have the same protections as under the NSW Government’s program. And that’s fine if you’re dealing with a quality installer offering quality gear. So, it’s important to:
- Research the battery being offered – not just the specifications and quality, but if the pricing is really discounted instead of the company whacking on whatever amount and then “discounting” it.
- Research the installer – poor installation can make a real mess of even the best equipment; and where margins are tight there is greater risk of corners being cut.
- Check the fine print of cashback offers for any nasty gotchas before signing on the dotted line.
Getting Ready – No Time Like The Present
Whether you’re happy to wait or want to make a move now, SolarQuotes has just about everything you need for your due diligence – from a comprehensive guide to buying home batteries to solar battery and installer reviews. We recently launched battery calculator to help you determine if energy storage is right for you if you already have panels, and a solar and battery calculator if you don’t.
If you’re not in a hurry to install home energy storage, you’ll have plenty of time to get better informed and understand exactly what you need before the finer points of the subsidy are settled and the rebates released. But if you are ready to pull the trigger on an installation now, there will likely be many good installers eager for your business and perhaps prepared to cut a better deal. SolarQuotes can help you there too by arranging quotes from battery installers we know and trust.
About Michael Bloch
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Re: NSW Battery Rebate: Wait Or Save With Current Deals?
We are looking to install some micro inverter panels.
Are they compatible with installing a battery post panel install?
Yes, multiple roof area install.
Hi Peter,
You’ll find some information about micro inverters, optimised DC string systems and the associated AC or DC coupled batteries in a search of our blog.
Enphase & Tesla play well together. iStore are more budget friendly.
https://www.solarquotes.com.au/blog/tesla-powerwall-alternatives/
https://www.solarquotes.com.au/blog/powerwall-alternatives-hybrid-inverters/
100% correct, Enphase & Tesla play very well together.
Had a PW2+ added to my Enphase 10 months ago, flawless so far, saved me just under $2k already in bills on a single flat rate.
Lessons leaned on install date were that a single PW2 can take max 5kW during a blackout thus I had to chose which “string” to have wired in. With 2 of them it would be 10kW so wouldn’t matter in my case of a max 6.7kW measured peak generation at noon. Not a biggie but worth knowing when unsure if to get 1 or 2 powerealls.
More to the main topic, I’ve scored a decent discount in October 2023 just because a company decided to offer one and Tesla threw in their $700 or so cashback. It was about $1.5k savings all up as I paid about $12k for the PW2+ installed once cashback came in. I wish I got 2 at once. Something to consider if you hate your power company or all of them.
Payback for me, now that solar paid for itself is 5.5 years. Not bad, defo worth it. Consider 2 PW batteries if you love your RC aircon all year long etc.
Re: NSW Battery Rebate: Wait Or Save With Current Deals?
How do we, as consumers, actually ensure greed doesn’t impact our need?
Look at the disability industry. When the word, or even an indication, that a product is for someone with a disability, the price rises starting at 300%.
How do we, as consumers, actually know the true starting point now, and what change they apply post- subsidy?
Thanks for the article and discussion.
Hi Peter,
A good indication would be to get pricing from interstate. ie Victorian solar attracts different state incentives, other places have none.
Also well worth noting that the rebate in NSW is for Batteries connected to an exisitng Solar System. If you wait until then to get your solar installed before applying for a battery rebate you may face the reduction in STC’s as a lot of PV installation companies may be booked solid until the new year.
Another note I have taken from recent webinars is that the rebate opnly applies to new storage systems, therefore if you are considering adding a battery there is no rebate and no reason to wait.
This whole policy has not been properly though out and is leading to confusion for everyone. When there is confusion, there are unscrupulous people that will take advantage of it.
Why do these State Governments keep trying to put renewable energy companies out of business? Announcing a new rebate for November NOW will be catastrophic for all of the companies involved in importing, distributing, retailing and installing batteries as people will wait until it comes in. Are these governments just stupid, really stupid or just incredibly stupid? Did they learn nothing from the SolarVic fiasco? Clearly not.
Is it possible to order the system now but have it installed after Nov 1 and still be eligible for the battery rebate?
Hi Craig,
I couldn’t tell you sorry. Ronald has just sat through a webinar on the scheme and going on his off the cuff summary I don’t know if those running the scheme could tell you either. We’ll try to get to the bottom of it.