NSW Battery Rebate: Wait Or Save With Current Deals?

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.

In late May, the NSW Government announced a home battery subsidy – 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.