Latest news with #Homeowners
News.com.au
an hour ago
- Automotive
- News.com.au
Everything you need to know about batteries and then some
Battery storage adoption growing in Australia as federal government rebates go live Lithium-ion batteries of different specific chemistries continue to dominate New technologies promising to increase energy capacity, power and safety Battery storage has been in the limelight with increasing frequency due in no small part to the Australian federal government's move to offer significant rebates for home storage systems from July 1, 2025. While the $2.3bn program to provide homeowners with a discount of about 30% on the upfront costs of installing small-scale batteries led to the various states adjusting their own programs – downwards for most part – it has led a big surge in interest. This interest has translated into real world numbers with solar and storage services provider SunWiz flagging that battery sales had surged past solar photovoltaic system sales for the first time ever in May 2025. Capacity of battery systems has also increased with the typical installed battery climbing from 10 kilowatt hours to 15kWh. With all that said and done, just what are batteries, what makes them tick and why are they important? An equally large driver – if not the greater at this point – is the increasing adoption of battery electric vehicles. Energy storage solution Typically, when one talks about battery storage, one is referring to rechargeable lithium-ion batteries much like those found in smartphones and other devices but scaled up to meet the needs of entire homes or even significant portions of an energy grid. Battery storage systems generally take excess energy produced by renewable energy sources such as home or grid-scale PV panels or wind turbines and store it away from use when it's dark or when the wind isn't blowing. They are widely considered to be indispensable towards achieving net zero emissions as they will backup renewable power, stabilise the grid and reduce (or remove) the reliance on fossil fuels during periods of peak demand. Altech Batteries chief financial officer Martin Stein agrees, telling Stockhead that while the world was ramping up renewable energy production, it is intermittent in nature as it is reliant on the sun shining or the wind blowing. 'However, power grids require 24-7 stability so the world needs batteries to store the excess energy so that it can return to the grid at night-time and when it is required,' he said. 'Energy arbitrage – essentially the purchasing of excess power when prices are low and then storing it for sale during peak usage periods – is also becoming as much as an investment proposition for battery storage as the grid stabilisation requirement.' Stein adds the Australian government's grants have placed batteries at the forefront of residential customers as a solution for their solar power requirements. It shouldn't come as a surprise then that the battery energy storage system market is growing at a 28% compound annual growth rate as it scales up to meet net zero targets. Battery components While other types of batteries might play more specialised roles in the future, like redox flow batteries for base load or longer duration energy, the most commonly used for now are still lithium-ion batteries. Lithium-ion batteries take their name from their use of lithium as a key ingredient. Other minerals – often referred to as critical minerals – are also found in batteries with notable examples such as nickel, cobalt, graphite, iron and phosphate. The exact mix depends on the specific battery chemistry – notable examples of which are NMC (nickel manganese cobalt), NCA (nickel cobalt aluminium) and LFP (lithium iron phosphate). Such batteries have been in use since the 1990s though they were only used for small devices then. Drilling down into the nuts and bolts, the active parts of batteries typically consist of a positive electrode, a negative electrode (the anode) and an electrolyte. The electrode is typically a metal oxide or phosphate while the anode is made from graphite. Lithium is found within the liquid electrolyte, which is typically a lithium salt in an organic solvent though research is underway to make affordable solid electrolytes that are expected to improve safety, energy density and charging speed. While there has been plenty of research since the 1990s to improve energy density, power and battery life (or charge cycles), the anode has reached the peak of what it can do using just graphite alone. Significant focus has also been placed on safety as attention on fires caused by lithium-ion batteries has led to growing demand for safer technologies. Developments This demand for safety is one of the reasons for the development of alternative technologies such as Altech Batteries' (ASX:ATC) CERENERGY solid state sodium batteries that use sodium chloride – common table salt – and nickel powder rather than critical minerals such as lithium, copper, cobalt, graphite and manganese. The combination of this chemistry and solid electrolytes makes them significantly safer as they don't experience thermal runaway, have a longer lifespan and an operating temperature range from -40 degrees Celsius to 60C. 'That's where Altech's battery technology becomes very beneficial. It's very safe, very robust technology,' Stein said. 'I think the world is also becoming aware of the risks of the raw material supply chain, especially with China dominating a lot of these raw materials like graphite. 'The world wants to secure its energy storage. It wants raw materials that are readily available and abundant like the very cheap and readily available sodium chloride that is found in Altech's products.' Altech itself is currently focused on securing the finance to construct its battery plant in Germany. 'We are looking to mandate a leading European bank to run the debt process for the financing and we're looking at equity partners that would like to take a 49% stake in the project,' Stein added. 'Between those two avenues of finance, we're looking to raise the money to construct the plant and start producing these batteries. ' Other battery types Li-S Energy's (ASX:LIS) lithium-sulphur batteries resurrect an old idea that was unable to be commercialised due to poor cycle life but use unique nanomaterials and a new nano-composite to address the old challenges. The new batteries promise higher energy density than lithium-ion batteries while being lighter and greener. This makes them ideally suited to applications such as powering drones. It recently produced lithium metal foils from its facility in Geelong, Victoria. Meanwhile, Novonix (ASX:NVX) recently received a patent for its low surface area silicon alloy materials for possible use as anode active materials in lithium-ion batteries. This describes the process to generate battery anode alloy powders of high silicon content, relatively low surface area and relatively large particle size, which are desirable for stable, energy dense anode electrodes with the possibility of improving battery lifetime without sacrificing performance. On the silicon front, AnteoTech (ASX:ADO) is also making waves with its Ultranode silicon dominant anodes that address the expansion issue that blocks the use of silicon. Its anodes recently reached a key technical milestone after being used for 890 cycles with 80% capacity retention with 1070 cycles at 70% capacity retention for a 70% silicon anode. The technology allows anodes to be configured t a range of silicon content levels to suit diverse battery applications across EVs, drones, power tools and other specialty batteries including wearables. These improvements led giant car maker Mercedes Benz, which ordered evaluation material in October 2024, to acknowledge that they see value in the company's technology and that it will continue to engage with ADO as they progress their battery technology strategy.
Mail & Guardian
3 days ago
- Business
- Mail & Guardian
To loan or refinance: Make the right choice when renovating your home
Property is one of the most valuable assets you can own. Given this, many homeowners are always looking for ways to maintain and upgrade their homes, whether it's to personalise their space, improve everyday functionality, or stay in step with modern décor trends. But turning those home improvement dreams into reality often comes with an exorbitant price tag, and the funds aren't always readily available. For those needing financial support to get started, 2 common options are personal loans and home loan refinancing. But how do you know which route is suitable for your project, budget, and long-term financial strategy? To make informed, responsible decisions, it is imperative for homeowners to know the key differences, pros and cons, and ideal use cases for each financing method. Understanding the options A personal loan is typically an unsecured loan that has an assessed interest rate and term and ranges from 12 to 72 months. Approval is based largely on your credit score, income, and expenses, and the funds can usually be accessed fairly quickly. By comparison, procuring funding from your home loan may involve more steps, depending on the option selected. You can either apply for a further loan (which is new money borrowed against your property's increased value and would require you to get a new bond) or a readvance that lets you reborrow funds you've already repaid into your original bond. Both increase your loan but follow different processes. The bank will need to perform a credit assessment on you for both these options. Pros and cons of using a personal loan A personal loan is best suited for smaller-to-mid-sized projects (e.g. kitchen remodelling, new flooring, painting, new appliances, furniture, adding a carport or garage). It is also ideal for homeowners with lower home equity (the difference between your property value and the amount you still owe on your home loan) or who want to avoid refinancing their home loan, and for home projects that require quick turnaround where time is of the essence. The application process is simple and speedy with no collateral required, and the fixed payment schedule makes for easy budgeting, with predictable repayment schedules. However, borrowers with average credit scores attract higher interest rates due to their riskier credit profile. Personal loans are typically capped based on income and other factors, and monthly repayments may be higher due to shorter repayment periods. Pros and cons of refinancing a home loan Refinancing, particularly through a further loan, is typically suited for larger projects like structural upgrades. However, a readvance can also be ideal for smaller projects when clients have extra funds in their home loan account from paying ahead, enabling faster access with competitive interest rates. In contrast, the processing times are longer as credit assessments and approvals can slow the process. Upfront fees are typically higher than for a personal loan and you may increase your total debt exposure and likely your repayment term. What's more convenient? Personal loans offer convenience with a quicker turnaround time due to no collateral validations and limited paperwork needed to be produced. They're a better fit if you want to avoid reworking your mortgage, especially if you're on a fixed-rate loan with a great interest rate. Procuring funds from your home loan makes sense when your revised interest rate is reasonable, and you plan to stay in your home long enough to recoup the associated costs. It's a strategic move if you're planning significant home upgrades and want to leverage your home's value for long-term financial benefit. Weigh your options There is no one-size-fits-all answer when choosing between a personal loan and refinancing your home loan. It ultimately depends on your financial health, the size of your project, and your long-term goals. Personal loans offer quick access to funds and a simpler application process, while refinancing your home taps into long-term value at lower rates. The key is to weigh short-term convenience against long-term cost and equity.
Yahoo
4 days ago
- Business
- Yahoo
Why The Home Depot (HD) Remains a Reliable Dividend Pick in the Dogs of the Dow
The Home Depot, Inc. (NYSE:HD) is included among the 11 Dogs of the Dow Dividend Stocks to Buy Now. An insurance broker discussing policy options with a homeowner. The company is facing challenges expanding its business amid a tough economic climate marked by elevated interest rates and growing caution among consumers when it comes to major purchases. Still, several positive trends could work in the company's favor. Housing inventory in the US remains tight compared to demand, and the average home is aging. In addition, homeowners have access to trillions of dollars in home equity that could be used for remodeling and improvements. As economic conditions stabilize or improve, Home Depot is likely to benefit from stronger demand. In the first quarter of 2025, The Home Depot, Inc. (NYSE:HD) reported revenue of $39.86 billion, up 9.44% from the same period last year. Comparable sales declined by 0.3%, while US comparable sales saw a slight increase of 0.2%. The company noted that fluctuations in foreign exchange rates had a negative effect, reducing overall comparable sales by about 70 basis points. The Home Depot, Inc. (NYSE:HD) reported an operating cash flow of $4.3 billion and ended the quarter with $1.4 billion in cash and cash equivalents. The company is a reliable dividend payer with 16 consecutive years of dividend growth under its belt. Currently, it offers a quarterly dividend of $2.30 per share for a dividend yield of 2.45%, as of July 26. While we acknowledge the potential of HD as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and Disclosure: None.
Yahoo
21-07-2025
- Business
- Yahoo
When Selling Your Home in a Divorce, Who Pays Capital Gains Tax?
Divorce is never simple, and that's particularly true when a home is involved. While property division is often hashed out during settlement talks, many divorcing couples don't anticipate the potential tax consequences that can come with selling the marital home. Chief among them is the capital gains tax, which can apply when a home is sold for more than its original purchase price. Luckily, understanding how capital gains exclusions work, how the timing of a sale affects taxes, and who's responsible if one spouse keeps the home can help divorcing couples avoid costly surprises. What the capital gains tax exclusion means—and why timing matters in divorce When you sell your primary home for more than you originally paid, the profit—known as a capital gain on real estate—might be subject to taxes. How much you owe is based on the gain. However, most homeowners qualify for a capital gains exclusion, which can reduce or eliminate the amount they owe. To qualify, though, you must live in the home as your primary residence and have lived in it for at least two of the past five years. Plus, you can claim the exclusion only once every two years. Individuals can exclude up to $250,000. Married couples filing jointly can exclude up to $500,000. In a divorce, the timing of the home sale can make a big difference. Depending on when you sell the home, and who meets the ownership and residency requirements, will determine if and how much of an exclusion you can claim. This is why it's important for divorcing couples to consider their timetables as part of the broader financial strategy. Selling too late could result in a larger tax bill, especially in areas where home values have appreciated significantly. There's been ongoing debate among lawmakers about potential changes to capital gains rules, particularly in response to the housing affordability crisis, so staying informed about tax policy changes is also wise. If the home is sold before the divorce is finalized From a tax perspective, selling the home before your divorce is finalized is often the most efficient route, since married couples can take advantage of the full exclusion amount ($500,000). You just need to file a joint return and meet the other requirements. The IRS does not take divorce pending proceedings into account. What matters is your marital status at the time of the sale. As long as you are legally married when you sell the home, the full exclusion will apply. This can result in substantial tax savings when your home has appreciated significantly in value. While the proceeds from the sale will still need to be divided as part of the divorce settlement, the tax treatment of those proceeds is generally more favorable when the sale happens before the split is official. So whether your divorce is amicable, mediated, or somewhere in between, it's worth having a conversation about timing the sale strategically since selling the home earlier in the process could reduce your joint tax liability—and leave more money on the table for both parties to divide. If the home is sold after the divorce is finalized Once the divorce is final, the couple no longer qualifies for the $500,000 exclusion as a unit. Instead, each spouse may individually qualify for the $250,000 exclusion—but only if they meet the ownership and residence test individually. There are other potential problems when selling postdivorce. One spouse might not qualify if they moved out of the house years before the sale, which might commonly happen when a couple splits up. Another issue arises when the title to the home changes after the divorce. If the home is transferred into the name of one spouse only, and that person sells it later, the entire capital gain might be attributed solely to them (even if both spouses shared in the home's appreciation during their tenure there). That could lead to a much higher tax bill. For example, let's say the home increased in value by $600,000 after it was purchased. If only one spouse is on the title and only that spouse qualifies for the $250,000 exclusion, they could be taxed on the remaining $350,000 in gains—a potentially significant financial hit. If one spouse keeps the house after divorce In this case, the capital gains tax doesn't apply right away since there was no sale. Instead, taxes will come into play down the road whenever the spouse eventually sells. Here's why this matters: Unless the home's cost basis (the original purchase price, plus any major improvements) is adjusted during the divorce settlement, the person who keeps the house inherits the original cost basis. That means if the home increases significantly in value over time, they could be hit with a larger tax bill—especially if they only qualify for the individual rather than the exclusion available to married couples. Another common arrangement is where one spouse keeps the house and the other receives different assets, like retirement accounts or investment portfolios. While this can be a fair exchange at the time of divorce, it might lead to uneven tax consequences later. The spouse who keeps the house could face a larger tax burden in the long run, depending on how much the property appreciates. Because of these complexities, it's wise for divorcing homeowners to consult a CPA or a divorce-focused financial planner before finalizing any agreement involving the home. What seems like a clean trade at the moment could result in a costly surprise down the line if the capital gains on real estate aren't properly accounted for. Related Articles Pete Davidson and Elsie Hewitt Announce They're Pregnant With Their First Child—Just Months After They Moved in Together 36.1% of Homeowners in Tennessee Will Face a Hidden Home Equity Tax If They Sell Every Smart Buyer Does This Before Closing — If Your Agent Says Skip It, Think Twice Solve the daily Crossword
CBS News
18-07-2025
- Business
- CBS News
3 ways a reverse mortgage can supplement your Social Security
Retirement planning has become increasingly complex as Americans face longer lifespans, rising healthcare costs and concerns about Social Security's long-term sustainability. While Social Security remains a cornerstone of retirement income for most Americans, the average monthly benefit, which is currently $1,976, often falls short of covering all living expenses. As a result, many retirees find themselves in a financial squeeze, including those who are "house rich but cash poor" – meaning those who are sitting on a significant amount of home equity but struggling with monthly cash flow. For decades, the conventional wisdom regarding homeownership was simple: Pay off your mortgage before retirement and live debt-free in your golden years. However, this approach can leave retirees with substantial wealth tied up in their homes while facing monthly budget constraints, especially in today's inflationary environment, where the prices of essentials are growing. And, the irony of that is stark. You might own a $400,000 home outright but still worry about affording groceries or prescription medications on a fixed income. This is where reverse mortgages enter the conversation as a potential game-changer. With a reverse mortgage, retirees have the option to convert their home's equity into usable income while continuing to live in the home. For homeowners aged 62 and older, this can bridge the gap between Social Security benefits and the lifestyle they want to maintain in retirement. But how does that actually work? Learn how a reverse mortgage can help supplement your retirement income now. If your finances are stretched thin during retirement, here's how opting for a reverse mortgage can help supplement the money from your Social Security benefits: One option retirees have when taking out a reverse mortgage is to receive regular monthly payments rather than a lump sum loan or a line of credit they can draw from. By opting for monthly payments, retirees are essentially able to turn part of their home equity into a steady cash flow, much like creating a second paycheck with their home's equity. For retirees who are relying solely on Social Security, this can provide much-needed breathing room in the budget. For example, you might use the extra income to cover everyday expenses like food, gas and utility bills or even to enjoy small luxuries like travel or hobbies that make retirement more fulfilling. And, unlike a traditional mortgage or home equity loan, you won't be required to make monthly repayments on the money you receive from your reverse mortgage loan. As long as you stay in your home, keep up with property taxes and insurance, and maintain the property, repayment isn't due until you move out, sell the home or die. Compare today's reverse mortgage loan options and find the right fit today. Major medical issues tend to become more common and more expensive as we age, and as a result, medical expenses are one of the biggest financial challenges retirees face. While Medicare and Medicare supplemental insurance can help offset those expenses, it doesn't cover everything, and when you're reliant primarily on your Social Security benefits, all it takes is an unexpected hospital visit or prescription drug bill to throw off your budget. A reverse mortgage can help by giving you access to a lump sum of cash or a line of credit you can tap when needed for these types of costs. This can be especially valuable for covering out-of-pocket long-term care costs, in-home care or home modifications, like installing a stairlift or walk-in shower, that make it easier to age in place. Having these funds available could also help you avoid draining your retirement savings or turning to high-rate credit cards when surprise medical expenses pop up. If you haven't yet started collecting Social Security, using a reverse mortgage could allow you to delay claiming your benefits. For every year you postpone Social Security past your full retirement age (up to age 70), your benefits increase by approximately 8%. So, if you're 62 or older and considering early retirement, you could use reverse mortgage payments to cover living expenses while letting your Social Security benefits grow. This strategy can result in significantly higher lifetime Social Security payments, potentially allowing you to collect 30% to 40% more than if you claimed your benefits at 62. This strategy isn't for everyone, of course, but it could make sense if you want to lock in a higher Social Security payment for the rest of your life — and you're in good health and expect to live well into your 80s or beyond. A reverse mortgage can be a powerful way to supplement Social Security income and give your retirement budget a little more flexibility. Whether you're looking to cover essential expenses, pay for medical care or want to strategically delay claiming Social Security, tapping into your home equity might help you live more comfortably in retirement. But like any financial decision, it's crucial to understand how a reverse mortgage works and make sure this strategy aligns with your goals before making any decision. Done thoughtfully, though, a reverse mortgage could help you make the most of both your home and your hard-earned benefits.
