Australia's Labor Party Commits $2.3 Billion to Home Battery Subsidies, Targeting 1 Million Installations by 2030

Australia's Labor Party has pledged $2.3 billion to subsidize home battery installations, aiming to support 1 million new batteries by 2030. The subsidy will discount the cost of new home battery installations by 30%. This policy, set to take effect from July 1, 2025, applies to 'virtual power plant-ready battery systems' installed with new or existing solar panels. Eligible batteries range from 5-50kWh, with a limit of one per household. Labor estimates the policy will cut $4,000 from the cost of a typical battery and up to $1,100 from the average annual power bill. Small businesses and community facilities will also be able to access the subsidy, with support for batteries sized between 50-100 kWh eligible.