Aggressive expansion of household electrification is becoming the new political frontier of Australia’s decarbonisation push, with a proposal for a HECS-style loan scheme that could slash bills by up to $5000 a year.

Rewiring Australia founder and chief scientist Saul Griffith told Julie-anne Sprague on 6PR Afternoons, “The problem is, can we borrow the money to make the investment now? And that’s what we are proposing to the Albanese Government. “

“We know if we really had high adoption across Australian households, that would save them $1.7 trillion between now and 2050. We really shouldn’t think of this as what it’s cost to the government is, it’s what can this investment recoup to Australia in terms of savings over the long haul?”

“This is practically the best investment as a nation we can make because of these profound savings,” Mr Griffith said.

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