April 10, 2025: Australian prime minister Anthony Albanese has pledged A$2.3 billion ($1.4 billion) in subsidies to boost residential battery storage if his party is returned to office at the country’s May 3 general election.

Albanese said on April 6 his governing Australian Labor Party would make batteries cheaper in a move that would slash energy bills for homes, small businesses and community facilities by up to 90%.

The proposed ‘cheaper home batteries program’ would be launched in July and reduce the cost of a typical installed battery by 30%, with over one million new batteries expected to be installed by 2030, Albanese said.

Small businesses and community facilities would be able to access the subsidy, with support for up to 50kWh of batteries sized up to 100kWh eligible.

According to government analysis published before the election was called, a home with an existing rooftop solar system could save up to A$1,100 off their power bill every year. A household installing a new solar and a battery system could save up to A$2,300 a year — up to 90% of a typical family’s electricity bill.

The department said there have been four million rooftop solar installations across Australia to date, with one in three homes now equipped with solar although only one in 40 have a battery.

Last May, the federal government opened a national tender to bring an additional 6GW of renewable generation and batteries on to Australia’s east-coast grid.

In September, the government said it would underwrite the construction of six new BESS projects across two of the country’s states with a total storage of 1,081MW.