THE AUSTRALIAN FINANCIAL REVIEW

A fully electrified, energy-efficient home with solar panels, battery and electric cars could save its owners $3500 a year by 2030 and $4320 by 2050 compared with a household using gas appliances and petrol vehicles, a new report says.

The report, by Energy Consumers Australia based on modelling by CSIRO and consultancy Dynamic Analysis, calls for policies to ensure all households can share in the financial benefits of electrification, which requires upfront investments that not everyone can afford.

The savings include about $500 a year from energy efficiency measures such as insulation, $660 a year in 2030, rising to $820 a year in 2050, from quitting gas appliances, $1420-$1520 a year for switching to electric vehicles, and $1250-$1470 off power bills for typical households with solar panels and batteries.

The savings are annual averages over the 20-year lives of appliances, vehicles, solar panels and batteries installed in the years specified.

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