Lending group injects $72.2m into South Australia's home battery scheme

This will allow households to get loans for installing batteries if expenses surpass government subsidies.

Australian lending firm RateSetter agreed to inject $72.2m (A$100m) into the South Australian government's home battery scheme to help households install energy storage batteries in their homes. It signed a funding deal with the Clean Energy Finance Corporation (CEFC).

According to an announcement, the $100m will finance loans where the upfront costs of the home battery system installations are not met by the programme's subsidies. It will be delivered through RateSetter’s new South Australia-specific renewable energy lending market.

RateSetters will also allow the investments in its SA Renewable Energy lending market.