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Hackett Backs Greens Call For Tax Credits On House Batteries

Redflow chairman Simon Hackett, pictured, has – as you might expect – been quick to seize on a statement by the Greens calling for Australians to receive a tax credit of 50 percent of the cost of household battery storage systems up to a maximum of $5000.

ASX-listed Redflow has developed batteries ranging from its ZCell batteries to store household solar energy to grid-scale LSB (large scale battery) units. It could expect significant growth in sales if the Greens’ proposal became reality.

Said Hackett: “Lowering the cost of buying home batteries will accelerate the adoption of this new technology, delivering benefits both to consumers and to grid operators, who can call upon these batteries in aggregate as a distributed ‘virtual generator’ rather than run up expensive fossil fuel-based generators during peak demand periods.

“The entire electricity system will become much more efficient and less expensive when grid operators recognise these opportunities by offering customers who own home batteries the opportunity to get paid to send energy back into the grid when the system needs it.”

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