Australia, Policy, Projects, Renewables, Solar, Storage

$50m Federal funding for household smart meters

smart meter, Climate Smart Engineering Conference

The Australian Government is funding smart meters deployment to empower consumers and improve energy efficiency with a $50 million loan commitment.

The loan, provided by the Clean Energy Finance Corporation (CEFC) will be given to Intellihub, Australia’s largest provider of smart metering devices.

This initiative aims to accelerate the deployment of smart meters and behind-the-meter (BTM) devices across the country, giving Australians greater control over their energy consumption and costs.

According to CEFC, smart meters, along with BTM devices, are poised to play a crucial role in Australia’s transition to a cleaner energy future.

“Smart meters help consumers measure, balance, control and dispatch energy from their energy assets, from solar panels to home batteries EV charging infrastructure, air conditioning and hot water systems,” CEFC said.

“Smart BTM devices give consumers the ability to manage their electricity consumption, tapping into lower cost power prices and limiting demand peaks on the energy grid.”

CEFC CIO for Renewables and Sustainable Finance Monique Miller said one of the most exciting things about the energy transition is that it puts more power into the hands of consumers.

“By using smart meters and smart behind the meter devices, we can better understand when and how we use energy and make changes that will save on power costs as well as reduce our carbon footprint,” she said.

The Australian Energy Market Commission (AEMC) estimates that an accelerated deployment of smart meters targeting universal uptake by 2030 could provide net benefits of $507 million for New South Wales, Queensland, Australian Capital Territory, and South Australia.

“The Albanese Government is reducing energy bills for all Australians. This investment will unlock bill savings for Australian households,” Federal Minister for Climate Change and Energy Chris Bowen added.

“Smart meters are a key first step to putting solar panels on your roof and a battery at the back door.”

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