Energy

The backing of battery and solar deal by Shane Warne that could drop power bills to zero

Summary

Shane Warne has announced to support a new power deal that is expected to decrease people’s energy bills by almost 100%. The deal backed by Warne is from green power retailer Social Energy. The backing will provide a $500 credit […]

Shane Warne has announced to support a new power deal that is expected to decrease people’s energy bills by almost 100%. The deal backed by Warne is from green power retailer Social Energy. The backing will provide a $500 credit to households each year against their power bills. The residents are signing up to buy a Duracell Energy Bank 2 battery, which the funding plans are available for low-income earners to enable them to pay the upfront amount. 

Chris Williams, the founder of Natural Solar, said that the scheme allows people not to pay the upfront money, and the whole system would have been paid off in the next six years through savings from power bills and from Social Energy $500 credit. Chris said that the battery and solar system’s total installation cost would be between $14,000 and $15,000, which is expected to offset by the decrease in power bill costs. 

If these households enter into a deal with Social Energy, their power bills are expected to drop to zero, enabling them to save enough to settle the system costs in less than five years. For instance, a system installed by one household in Sydney’s Northern Beaches is estimated to save $2506 each year on power. 

The customers who will benefit from this initiative are those who consume 6000kWh of power per year at the cost of $2131. They will buy an 11.6 kWh battery and solar system at the cost of $14000, which will produce 8000kWh of power yearly. This is one of the latest deals that provide people with simpler ways of installing solar and battery without upfront payment. 

The deal is also expected to help households that own solar panels by providing them with batteries. Although this initiative is not lucrative since the battery cost will range between $9500 and $13000, depending on its size. Chris said that households could save between $800 and $1000 in the battery system alone each year on their electricity bills, and this could increase to $1500 with the inclusion of $500 credit. 

Chris said that to pay off the $10000 battery would take approximately seven years, but there is no stipulated timeline for the $500 credit, although it’s expected to be there for at least 3-4 years. The battery and solar panel have a warranty of 10 and 12 years, respectively. For this duration, maintenance will also be provided. Chris said that Social Energy’s power prices are provided at competitive and lowest rates possible. For example, in Sydney, they provide power at a rate of 21 cents /kWh, which is relatively low to the average rate of 28 cents/kWh. 

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