Western Australian Labor has unveiled plans to slash the cost of home battery storage, with state government rebates of up to $5,000 per household, or $7,500 for households on the regional Horizon Power grid…
Eligible households would have up to 10 years to repay the no-interest loans of $10,000 or less…
Cook has also promised to invest $50 million of public money to a Battery Manufacturing Program of direct grants and low-interest loans to support the development of a home battery supply chain in the state.
A ten year interest free loan ends up being a massive discount on the battery as inflation and wage growth reduce the real cost of the loan.
Of course this depends on wage growth actually occurring, but that’s the theory.