Apartment residents could save on energy bills with a $25 million solar package

As the cost of living continues to rise, Australians are constantly on the lookout for ways to cut down on expenses, particularly when it comes to the ever-increasing energy bills. In a move that’s sure to bring a sigh of relief to many, Prime Minister Anthony Albanese has announced a solar power initiative that could see apartment residents save up to $600 on their annual energy bills. 

This initiative is part of a $25 million package aimed at bringing the benefits of renewable energy to those living in apartment buildings across New South Wales. The federal government’s commitment to helping eligible owners’ corporations and strata managers install shared rooftop solar systems is a significant step towards making sustainable living more accessible to all, regardless of housing type. 

During a press conference in his local electorate of Grayndler, Albanese highlighted the triple benefits of the initiative: ‘There are estimates that this could save residents up to $600 a year on their power bills, so good for residents, cost of living, good for reducing our emissions, good for the environment,’ he said. It’s a win-win situation that’s been rolled out by the Commonwealth and the state government, and it’s particularly timely given the current energy crisis.

Currently, only a small fraction of apartment buildings in NSW have taken advantage of solar power, with just 3.5 per cent of them sporting solar panels. This is in stark contrast to the one in five homes in NSW that are apartments. Energy and Climate Minister Chris Bowen emphasised that the funding will make the transition for apartments to solar quicker and easier, joining the four million households already using rooftop solar.

‘We now have 46 per cent of our electricity across the country being produced by renewables, 33 when we came to office,’ Bowen said. ‘That’s good progress over the last three years, we’re more than halfway to 82 per cent, but all this is on the ballot paper in the not-too-distant future when the prime minister decides all this.’

The Solar for Apartment Residents initiative will cover 50 per cent of the cost of installation, with up to $150,000 available for each project. This is a substantial subsidy that could significantly reduce the upfront costs of going solar, making it a more viable option for many.

Applications are now open for owners’ corporations or strata managers of apartments or multi-unit dwellings with three to 55 units that have not had a solar system installed in the last 10 years. The offer stands until December 1 or until funding is exhausted, so it’s crucial to act quickly if you’re interested.

In addition to announcing this solar initiative, Albanese also took the opportunity to critique Opposition Leader Peter Dutton’s $331 billion nuclear energy plan. He expressed concerns about its feasibility and environmental impact, contrasting it with the government’s renewable approach, stating, ‘Peter Dutton’s so-called plan is not one that is good for energy. It’s not one that’s good for households, not one that’s good for the environment.’

Dutton proposes constructing seven nuclear sites across New South Wales, Queensland, Victoria, South Australia, and Western Australia. The opposition claims its plan would be 44 per cent more cost-effective than Albanese’s approach, however, this estimate is based on projections for generating around 45 per cent less energy than renewables by 2050.

What do you think? Would you consider installing solar panels in your apartment building? Do you believe the government’s initiative goes far enough, or should there be additional support for apartment dwellers? And how do you feel about the opposition’s nuclear energy proposal? Share your thoughts in the comments below—we’d love to hear from you!

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