Australian households could knock more than $1500 off their energy bills with some basic home upgrades – and almost twice as much by investing in renewable energy technology.
But the potential savings identified in a study – which add up to more than $23.6 billion nationwide – are unlikely to be unlocked without financial help from the federal government.
A collection of 65 environment groups, unions and community organisations known as Renew Australia for All, issued the findings on Wednesday as it released the analysis of energy bills by Springmount Advisory.
Their call to action comes one day after federal Energy Minister Chris Bowen revealed he directed the Australian Renewable Energy Agency (ARENA) to accelerate solar projects, including investments in household solar panels and batteries.
While Australia leads the world in household solar panel installations, figures from analysis revealed seven million homes remained without solar panels, and 10.7 million homes operated without battery storage.
Seven in every 10 Australian homes also fell short of the seven-star minimum standard for energy efficiency, instead reaching three stars or lower.
Making greater investments in renewable energy for households could save consumers significantly on household bills, Smart Energy Council chief executive John Grimes said, and needed to be a higher priority for governments.
“Improving home efficiency and giving people access to solar and batteries is the fastest, best way to slash household power bills for good,” he said.
“This should be a no-brainer for governments dealing with a cost-of-living crisis.”
The study, which used data from the CSIRO and Climateworks Centre, found households could save an average of $1579 a year with basic energy-efficiency upgrades, such as replacing gas with electric hot water systems, hanging heavy curtains, or installing roller shutters.
Investing in solar panels and battery systems could save $3039 per year on average and both upgrades rolled out across the nation could save up to $23.6 billion per year.
Financial subsidies would be particularly important for renters and financially disadvantaged households, Uniting NSW advocacy head Alice Salomon said, as they were already struggling with tough decisions over energy bills.
“It is simply unfair to know that many people are making incredibly tough decisions every day about keeping their house safe and liveable … or feeding their family,” she said.
“All Australians, no matter where they live, whether they rent or own their place or whatever their means, should benefit from the energy transition.”
More than four million Australian homes already have solar panels installed, representing 25 gigawatts of energy capacity.
The call for greater investment in household energy comes after Mr Bowen directed ARENA to consider funding solar panels and battery installation projects after striking a deal with crossbenchers in exchange for their support of Labor’s Future Made in Australia legislation.
The agency has been asked to look at funding projects in every state and territory, with pilots modelled on the North Wollongong community electrification testbed.
AAP
