Latest news with #Brighte
Perth Now
20 hours ago
- Business
- Perth Now
Aussies want solar batteries but many feel overwhelmed
Almost one in every three Australians feels overwhelmed by the process of choosing and installing a solar battery even as demand for the technology grows in the lead-up to a national rebate scheme. More than half of all Australians are also put off by the cost of the technology, a study has found, despite falling prices and low-interest loans. The Commonwealth Bank and finance firm Brighte released the findings on Monday while launching a Home Energy Upgrades Service designed to provide advice and quotes for households investigating energy upgrades. Their announcement comes one week before Energy Minister Chris Bowen launches the federal government's $2.3 billion Cheaper Home Batteries Program that promises to deliver a discount of 30 per cent on the cost of installing a battery. Despite the rebate, a survey of more than 2000 Australians conducted by Pure Profile found 30 per cent felt overwhelmed by the process of having a battery installed and 52 per cent considered the up-front cost too high. Many factors could be serving to confuse consumers, Commonwealth Bank general manager Joel Larsen said, from working out what size of battery would work best for their home to how soon the technology could turn a profit. "The technology aspects of it around battery storage, capacity, and solar production capability can overwhelm the average consumer," he told AAP. "We know what people are really looking for is a payback period." In addition to questions about financial returns, government incentives can also be tricky to identify. While the federal scheme allows consumers to "stack" rebates, only Western Australia will have a battery rebate in place after July, with incentives up to $7500 depending on a household's energy provider. Some states and territories including Tasmania and the ACT offer no-interest loans, however. The Commonwealth Bank will also offer discounted loans and a $1500 rebate to its home loan customers seeking to install batteries, solar panels or EV chargers, Mr Larsen said, and he expected plenty of interest, particularly from households with solar panels already installed. "More and more Australians are looking to take up home energy services and really reduce their expenses when it comes to energy bills and utilities," he said. "We've seen a pretty significant increase in the number of customers coming to us post the federal election and I expect that will continue to grow." A recent Climate Council report found 300,000 Australians homes had a battery installed, although that represented only eight per cent of the four million homes with solar panels. More information and advice about installing solar batteries would be required to ensure Australians could be confident in purchasing the technology, Climate Council spokesman Greg Bourne said. "An educational process has to come before people spend hard-earned cash," he said. "Even with a subsidy there are still so many offers that go out that people do need to (educate themselves)."
Yahoo
08-03-2025
- Business
- Yahoo
Aussie dad saving $200 on every electricity bill after clearing common hurdle: ‘Saving good money'
An Aussie dad-of-two has shared how he is saving $200 off every electricity bill he receives. The majority of Aussies are worried about the rising cost of energy bills, as they battle the already soaring cost of living. Nathan Triffitt and his wife Danielle installed solar panels and a battery on their Thirlmere home a few years ago and have seen their electricity bill drop significantly. The dairy detergent maker told Yahoo Finance the couple decided to make the investment to help lower their bills and give themselves a backup option should they lose power. 'I wanted to keep the lights on for my family in blackouts and to lower the prices of our energy bill,' Triffitt said. RELATED Aussie dad saves $3,000 and avoids paying electricity bill for years: 'Game-changing' NAB's $18,000 LMI home loan change for these Aussie workers: 'Easier' Cashless venue sparks surcharge outrage as Aussies cop $960 million hit: 'No other options' 'Some months are different, obviously winter has less sunlight, but on average it is $200 per bill that we're saving. So we're saving some good money.' The family of four has two 6.6kW solar systems, which cost them $5,000 and $6,000 with state government rebates. They also have a 10kW solar battery worth $10,000, which they won as part of a competition. 'The battery kicks in when the sun goes down. On a day we don't have to use our air con, we can get through the whole night on our battery alone. That's a really big saving,' Triffitt many Aussie families are keen to install solar panels and batteries to lower their bills, upfront costs remain a big barrier. Rebate schemes are offered by some states, while others offer interest-free or low-interest loans but eligibility criteria apply. Brighte CEO Katherine McConnell said upfront costs had become an even bigger barrier for families due to spiralling cost-of-living pressures. "What we're seeing is a perfect storm," she said. "Australians clearly understand the long-term benefits of home energy upgrades and want to act, but rising cost-of-living pressures are making the initial investment even more challenging. 'This presents a critical opportunity for innovative financing solutions and government rebates to help bridge this gap." Brighte offers personal loans for people seeking to make sustainable upgrades to their home, including installing solar panels and batteries, and connects customers with tradies. The loans come with a 0 per cent interest payment plan, however, there is a $2.30 per week account-keeping fee, a $75 establishment fee and late payment fees. Triffitt got a loan through the company and said he'd like the government to offer more rebates for solar panels and batteries. 'There should be rebates for batteries and for bigger-sized batteries. Our battery is 10kW and I think they need to cover a few more hours of battery time and ease the pressure off the grid,' he said. Triffitt said his solar and battery savings were helpful given the cost of his mortgage repayments, energy bills and rates had all gone up. 'That $200 off our bill can go towards something else like the kids and what they need and want, and put food on our table and all those other things that we need in life,' he said.
