In an effort to support Australians in managing rising energy costs and promoting sustainable living, the Commonwealth Bank of Australia (CBA) has introduced a $1,300 discount for customers purchasing the Tesla Powerwall 3.
This initiative aims to make renewable energy storage more accessible, enabling households to reduce reliance on traditional energy sources and achieve greater energy independence.​
The Commonwealth Bank’s $1,300 Cash Relief
The Commonwealth Bank‘s initiative offers a $1,300 discount on the Tesla Powerwall 3, an advanced solar battery system that stores excess solar energy for use during periods of low sunlight or power outages.
This discount reduces the price of the Tesla Powerwall 3 to $8,589, excluding GST and installation costs. The offer is available to eligible Commonwealth Bank customers who purchase the battery through Wattle Powr, a division of UPowr, between November 12, 2024, and March 31, 2025. ​
Eligibility Criteria for Commonwealth Bank Customers
To qualify for the $1,300 discount, customers must:​
- Hold an active account or banking service with the Commonwealth Bank.​
- Purchase the Tesla Powerwall 3 through Wattle Powr within the specified promotional period.​
- Reside in areas where Wattle Powr operates, including New South Wales (NSW), Australian Capital Territory (ACT), Victoria (VIC), metropolitan Perth and Adelaide, and South East Queensland. ​
Additional State-Based Incentives
Beyond the Commonwealth Bank’s discount, various Australian states offer additional incentives to further reduce the cost of installing solar battery systems:​
- New South Wales (NSW): Eligible homeowners can receive rebates ranging from $1,600 to $2,400 on upfront battery installation costs. These rebates are automatically applied at the Wattle Powr checkout for qualifying Commonwealth Bank customers. ​
- Victoria: The state government provides interest-free loans of up to $8,800 for eligible households installing approved battery systems. As of the 2024-25 period, there were still 1,212 loans available under this program.
- Northern Territory (NT): Homeowners may be eligible for grants of up to $12,000 to support the installation of battery systems, enhancing energy independence and reducing power bills. ​
- Western Australia (WA): Residents can access rebates of up to $5,000 for solar battery installations after July 1, 2025. Additionally, low and middle-income households may qualify for interest-free loans of up to $10,000 to support their investment in renewable energy solutions. ​
Steps to Access the $1,300 Discount
Eligible Commonwealth Bank customers can follow these steps to take advantage of the $1,300 discount on the Tesla Powerwall 3:​
- Verify Eligibility: Ensure you have an active Commonwealth Bank account and reside in an area serviced by Wattle Powr.​
- Contact Wattle Powr: Reach out to Wattle Powr to express interest in purchasing the Tesla Powerwall 3. They will provide information on the product and guide you through the purchasing process.​
- Apply Discount: The $1,300 discount will be automatically applied at the Wattle Powr checkout for eligible Commonwealth Bank customers. ​
- Arrange Installation: Coordinate with certified professionals to install the Tesla Powerwall 3. Note that installation costs are not covered by the discount but may qualify for additional state or federal rebates.​
- Explore Additional Incentives: Investigate any additional state or federal incentives that may further reduce the overall cost of your solar battery installation.​
Financial Benefits of Combining Discounts and Rebates
By combining the Commonwealth Bank’s $1,300 discount with state-based incentives, customers can significantly reduce the upfront cost of the Tesla Powerwall 3.
For instance, a customer in NSW could receive up to $2,400 in state rebates, in addition to the $1,300 bank discount, leading to substantial savings on the battery system. Similarly, Victorian residents could benefit from interest-free loans, easing the financial burden of transitioning to renewable energy.​
FAQs
Who is eligible for the Commonwealth Bank’s $1,300 discount on the Tesla Powerwall 3?
Eligible customers include those with an active Commonwealth Bank account who purchase the Tesla Powerwall 3 through Wattle Powr between November 12, 2024, and March 31, 2025, residing in areas serviced by Wattle Powr.
Are installation costs covered by the Commonwealth Bank’s discount?
No, the $1,300 discount applies only to the purchase price of the Tesla Powerwall 3 and does not cover GST or installation costs. However, additional state-based incentives may help offset installation expenses.
Can the Commonwealth Bank’s discount be combined with other government rebates?
Yes, customers can combine the Commonwealth Bank’s $1,300 discount with various state-based incentives, such as rebates and interest-free loans, to further reduce the overall cost of installing a solar battery system.
