Election Promise: ALP Battery Subsidy.
In the lead up to the 2025 Federal Election, Anthony Albanese has announced a $2.3 billion investment that would slash the cost of household batteries by 30 per cent as part of a combined cost of living and climate change action pitch to voters.
At a press conference in Brisbane today, the prime minister said the move would save households around $4,000 on installing a home battery.
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This means that $7.66 billion will be spent on Batteries, probably from China.
The cost will be split:
- $2.3 billion by the taxpayers.
- $5.36 billion by the average household.
Calculations.
575,000 households at the $4,000 average discount, will make up that $2.3 billion.
The same 575,000 households will be paying an average of about $9,300 for their battery, instead of about $13,300 each.
Those that are unable to afford to pay this average of $9,300 are excluded from this solar battery benefit.
It is only for those financially better off, and able to cover this cost.