NEW RESEARCH REPORT

Home Energy Savings Report

Plug in and pay less

Dear David,

I'm in Türkiye this week for COP31, where electrification is taking centre stage in conversations about how we cut emissions and move away from fossil fuels.

It’s exciting to see how far this conversation has come. Around the world there is growing recognition that going electric isn’t just about tackling climate change, it’s also one of the biggest opportunities we have to lower household energy bills and reduce our reliance on volatile fossil fuel markets.

Australia is well placed to lead this opportunity. We’ve got the world’s highest rates of rooftop solar and a rapidly growing number of families installing home batteries and buying electric vehicles.

But we need practical plans to help households make the switch and we need to make sure the benefits aren’t limited to those who can afford the upfront costs.

Our 2026 Home Energy Savings Report shows just how much is at stake.

We found that Australian households who switch from gas and petrol to electric can save an average of $4,300 a year, even after accounting for upfront costs.

That's a serious amount of money back in people's pockets, particularly when petrol prices are surging and cost-of-living pressures are biting. 

And our report showed millions of Australians are embracing these cheaper, cleaner electric technologies.

The federal government's home battery rebate has helped drive a huge uptake in household batteries, with an average of 1,100 installed every day since July 2025.

And the Fringe Benefits Tax exemption for eligible electric vehicles has helped make EVs more affordable and accessible. Helping households buy new EVs is also turbo-charging the used EV market.

These policies are making a real difference but they are coming under political pressure.

And our report highlights another challenge. Millions of Australians are missing out on the savings including many renters, lower-income households and pensioners who all face barriers to making the switch.

We should be expanding the policies that help people electrify, not winding them back.

Here's what else we found in the report:

• Households switching from gas and petrol to electric can cut their energy costs by nearly half. Even without solar and a battery, they're around $3,000 a year better off after upgrade costs.
• A 15kWh home battery can save an all-electric household with solar between $800 and $1,200 a year.
• Across 13 models, EV prices have fallen by around $24,000 since 2020. Some small electric cars now cost the same upfront as their petrol equivalents.
• Apartment residents can save around $1,800 but only around 6% of them have solar.

I'll be sharing these findings and the Australian experience at COP31, where I'm appearing on several panels and talking with people from around the world about how we turn electrification targets into practical plans.

There's plenty for Australia to be proud of on the world stage, but it’s vital we don’t let that progress stall.

I'll share an update next week on how we get on at COP31.

Thank you for being part of this.

Francis Vierboom

CEO, Rewiring Australia

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