The proposal would expand the capital base of the Clean Energy Finance Corporation (CEFC) by contributing $2 billion each year over five years (a total of $10 billion) from 1 July 2019. The CEFC would be directed to undertake the following investments with part of this capital.

• $1 billion to support clean hydrogen development.
• Concessional loans to households who participate in the Household Battery Program (which has been separately costed1 ). The Household Battery Program would provide cash grants to up to 100,000 households for the purchase of energy storage batteries. The grants would be paid at a rate of $500 per kilowatt hour (KWh) of battery capacity, capped at $2,000 per household. Participating households would be able to apply for concessional financing through the CEFC to help pay for the balance of battery costs and to purchase new or additional solar panels if required. The Household Battery Program would have effect from 1 January 2020.
• Up to $1 billion for public schools to install solar panels and battery storage. The scheme would roll out on a trial basis in the first 24 months. All public schools would be able to apply for access to the scheme. Those schools that already have rooftop solar would be able to apply to expand existing installations and also install battery storage. This scheme would have effect from 1 January 2020.