Home Battery Boom Helps Halve Wholesale Power Prices

A surge in home batteries has helped cut wholesale electricity prices by 47% in Australia, while better using the country’s abundant solar power.

“This is a story of global significance that Australian households have achieved,” said Chris Bowen, Australia’s Energy Minister.

More than 500,000 home batteries have been installed since a government programme began offering households a 30% discount on eligible systems in July 2025. With solar panels already installed on more than one in three homes, batteries allow households to store surplus daytime electricity and use it during evening peaks, reducing pressure on the grid and the need for additional power generation. Australia is now on track to more than double its home battery capacity this year.