The proposal has 2 components that would commence 1 October 2022.

Component 1 would amend the Renewable Energy (Electricity) Act 2000 to add home batteries as an eligible technology to earn Small-scale Technology Certificates (STCs) through the Small-scale Renewable Energy Scheme. It would also extend the ‘deeming rate’ for home batteries to 15 years; then, from 2025, to the time between installation and when the scheme would end (2040).

Component 2 would require the Clean Energy Finance Corporation (CEFC) to administer zero-interest loans of up to $5,000 to households to purchase and install eligible zero-emission technologies. These technologies would include electric vehicles, heat pumps, household batteries, and electric cookers. The CEFC would administer the loans in collaboration with commercial partners.

• 200,000 loans with a term of 6 years would be administered across 4 years, with a maximum of 50,000 loans in each year. Any unallocated loans would be returned to the CEFC’s budget at the end of the proposal.
• 25,000 loans in each financial year would be reserved for households in rural, regional, and remote Australia. Furthermore, only households with an annual income below $90,000 for individuals and $150,000 for couples would be eligible.