Households Missing Out on $3000 In Energy Bill Savings
New analysis reveals the top five electorates in each state and territory where millions of Australian households are losing over $3,000 a year on energy bill savings – more than $23 billion per annum nationally – due to a lack of access to rooftop solar, batteries and energy efficiency upgrades.
Four million Australian homes with rooftop solar have more generation capacity (24.4GW) than all our ageing coal-fired power stations across the country (22.6GW).
Those solar households are slashing their power bills by an average of $1,500 per year, but just 250,000 of those homes have batteries.
Australia is still sitting on incredible, untapped benefits.
- There are still 7 million homes without solar
- There are 10.7 million without batteries (that is less than one in every 40 houses)
- More than 70 per cent of existing homes in Australia have a housing energy rating of three stars or lower – well below the current minimum standard of 7 stars
This poor energy efficiency performance, coupled with the lack of utilisation of both capturing and storing our abundant sun through solar and batteries means we are all paying more for electricity in the home than we need to.
The analysis by Springmount Advisory identifies the cost savings Australians could capture from installing rooftop solar, upgrading to solar and batteries, and even applying simple ‘quick fixes’ for homes, like installing curtains, improved insulation and electrification of household appliances.
It finds Australians could save an average of $1,579 a year if they implemented ‘quick fixes’ – including basic thermal upgrades, and installation of electric hot water heating and cooking. Household savings could be boosted further to an average of $3,039 per year if ‘quick fixes’ were coupled with solar and batteries.
If the government delivered home energy upgrades to households, Australia could see collective savings of $23.6 billion per annum.
Renew Australia for All is calling for an urgent $5 billion investment from the Federal Government to cut the upfront cost of home energy upgrades and install rooftop solar and batteries for millions of Australian households hit hardest by the cost of living crisis.
The full report can be found online, and includes a break-down of cost savings by state and top electorate beneficiaries:
Quotes attributable to John Grimes, Smart Energy Council Chief Executive
“4 million Australian solar homes know that solar saves money, every household should be helped to do the same.”
“Improving home efficiency and giving people access to solar and batteries is the fastest, best way to slash household power bills for good, now.”
“Solutions are available right now, this should be a no-brainer for governments dealing with a cost of living crisis.
“Nuclear power will double the power bills for solar homes, and increase prices by more than 33 per cent for non-solar homes.
“We need leadership, sense and a solid, practical plan to help all Australians slash their power bills with cheap, clean energy solutions.
“We call on all sides of government to invest in households now with what we know saves people money with technology available right now.”
Quotes attributable to Uniting NSW.ACT’s Head of Advocacy Alice Salomon
“We are in a cost-of-living crisis, felt most severely by people experiencing disadvantage. We need all governments to back the practical and climate-friendly solutions that will drive down energy costs now.
“It is simply unfair to know that many people are making incredibly tough decisions every day about keeping their house safe and livable – especially with the dangers of extreme heat – or feeding their family,” she said.
“We want to see the people we serve every day – who are experiencing the impacts of climate change, extreme weather and cost of living most severely – to be able to access this technology and these household energy upgrades.
“All Australians, no matter where they live, whether they rent or own their place, or whatever their means – should benefit from the energy transition, especially during this cost-of-living crisis.
“Reducing energy costs through government supported household energy upgrades for those doing it tough is essential,” she said.
Read the full report here: renewaustraliaforall.org/household-savings-analysis/