Single strategy saving Aussies $3 billion on power bills

That’s according to a new report by the Climate Council that is calling on the technology – and the savings – to be more extensively rolled out across the country to combat cost-of-living pressures and decarbonise the energy grid.

“Cost-of-living relief is a key reason to invest in rooftop solar, with the average household saving more than $1500 a year,” the Seize the Sun report states.

“Collectively, Australian households with rooftop solar are saving nearly $3 billion a year on their power bills.

“Households with solar are more insulated from power price increases, and those with a battery are even better off.”

More than 3.6 million homes – roughly a third of all dwellings – have solar panels installed, but the report is calling for that number to be doubled by 2030.

“We can extend the bill savings to millions more homes and businesses now, backed by household and community batteries and other technology like smart hot water systems that stabilise our grid and cut climate pollution,” Climate Councillor associate professor Tim Nelson said.

“Rolling out more rooftop solar is the biggest opportunity we have right now to keep building on Australia’s clean energy momentum.

“It should be at the top of the agenda for all parties during the next term of parliament, and we can get the ball rolling with clear commitments today.”

The report also makes the case for battery storage to be rolled out rapidly so solar energy can be stored and used day-round, and says governments should help families bear the up-front costs of installing the equipment.

“Zero and low-interest finance is one way to achieve this, by allowing households to install rooftop solar and batteries at a minimal upfront cost to be paid off over time with their bill savings,” it states.

“Zero-interest loans are already available in the ACT and Tasmania.

“These programs need to be continued and rolled out in other jurisdictions, providing zero-interest financing to those who need it most, like households on low incomes.”

The report identifies rental properties as one of the major challenges in expanding solar energy rollout, saying landlords are proving difficult to convince to install rooftop panels because they don’t share in the savings as tenants are responsible for energy bills.

It says making solar panels mandatory on new homes would be one way to overcome that hurdle, as would community solar banks.

“Members of community solar banks can either pay a subscription fee, or make an upfront investment,” the report says.

“They then receive credits on their energy bills, which are based on how much revenue the community solar farm earns.”