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Tackling the Cost of Living Crisis: How Batteries and Solar Unlock Energy Savings for Apartments
28 March 2024
As an Australian battery manufacturer, we are thrilled to see the proactive steps taken by the NSW, VIC, and Federal governments in making energy efficiency a priority. In light of the recent announcement in the Australian Financial Review, that the Prime Minister has pledged $1 billion in subsidies, grants and other forms of support to the domestic production of solar panels, it’s clear that the national focus is shifting towards a more sustainable and domestically supported energy sector. Their efforts to provide subsidies for solar installations and energy upgrades in apartment buildings are commendable strides toward mitigating the rising cost of living. Yet, while solar power represents a significant leap forward, it’s crucial to understand why this solution alone might not fully harness the potential benefits for energy consumers, especially in multi-unit dwellings
The current landscape
The initiatives, such as NSW’s $206 million allocation and Victoria’s Solar for Apartments Program, are substantial. They aim to make clean energy more accessible and reduce energy bills, targeting a broad spectrum of residences, including social housing and low-income renters. These programs are designed to promote sustainability and support the energy transition, which is essential in our collective journey towards a greener future.
The Missing Piece: Batteries
However, there’s a critical component that could elevate these benefits significantly – batteries. The current solar initiatives predominantly benefit those at home during the day or properties with high daytime energy usage. But what about the majority of apartment residents who are out during these hours? The energy generated by solar panels often goes back to the grid, with minimal direct benefits for these residents. This is where batteries change the game.
Why Batteries?
Batteries store excess solar energy, not used during the day, providing power for evening and nighttime use when residents are home. This storage capability ensures that the energy produced is utilised to its fullest, maximising savings on electricity bills. And with the trend of daytime energy prices potentially hitting zero or going negative, the incentive to feed solar back to the grid is negligible or non-existent. Batteries unlock the real benefits of solar by storing this energy for personal use, ensuring residents directly benefit from their investment.
While solar installations are a step in the right direction, integrating batteries can truly revolutionise the way we consume energy in apartment buildings. This integration not only enhances energy independence but also ensures that the benefits of solar energy are fully realised, directly impacting the cost of living for residents.
As Energy Renaissance champions the cause for sustainable energy solutions, we encourage stakeholders, from government bodies to strata managers and apartment residents, to consider the amplified benefits of pairing solar with batteries. It’s not just an investment in energy efficiency; it’s an investment in a sustainable, cost-effective future for all.
Let’s not stop at solar. Let’s take the next step towards a more sustainable and economically beneficial energy future with solar and batteries.
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