Household Reports
Analysis: Household energy upgrades would slash the cost of living by billions per annum
Year - 2025 Partner - Renew Australia for All
Our analysis reveals the average Australian household is losing between $1052 - $3039 per year, due to a lack of access to readily available energy-efficient upgrades like solar and home insulation.
Our work Includes a breakdown of the top five electorates in each state and territory that will benefit most, the analysis charts a policy path for the cleanest, fastest solution to help millions of Australian households slash their power bills.
Over 4 million Australian households are already slashing their power bills in half due to the installation of solar panels, however, 7 million households do not have solar.
This analysis shows the collective annual saving in helping the more than 7 million Australian homes get energy efficient installations is up to a staggering $23 billion a year.
Key findings (shown as average annual savings per household and national savings annually if all households upgraded)
Thermal and electrification upgrades :
$1,579 per household, per annum and $14.5 billion, total per annum national household savings
Installing rooftop solar:
$1052 per household, per annum and $5.5 billion collectively per annum
Upgrading to solar and batteries:
$1,459 per household, per annum and $9.1 billion collectively per annum across Australia.
Upgrading to solar and batteries plus ‘quick fix’ thermal upgrades, including efficient electric heat pump, hot water heating and cooking :
$3039 per household, per annum