With the cost of electricity on the rise, it’s no wonder that more and more homeowners are turning to solar power and renewable energy to power their homes and cut down their energy bills.
While the initial outlay to install a new solar power system in your home can be costly, the Federal and Victorian governments offer a range of incentives to make adding solar energy to your home more affordable.
Investing in having a system installed is a smart move for homeowners in Victoria, while there are abundant Victorian government schemes and rebates available to make it more accessible and affordable, whether it’s installing solar panels or adding a solar battery to your home.
By taking advantage of these incentives and programs, you can save money on your electricity bills and help to create a greener future for everyone.
In this blog post, we will cover the government schemes and rebates that are available for adding solar systems to your home in Victoria.
Federal Government Small-scale Certificate
Small-scale certificates (STC) are an initiative by the Federal Government to help incentivise the uptake of renewable energy across Australian households by reducing the upfront installation cost. STCs are available for small scale renewable energy systems, including solar PV systems under 100kW capacity, solar water heaters and air source heat pumps.
Once created and validated, the STC acts as a form of currency and can be used to recoup some of the cost of purchasing and installing the system. The amount of rebate depends on the size of the unit, location and the current value of the STC.
Talk to our team of experts to learn more about the STC and how much you can save on your renewable energy system.
The Victoria Government Solar Homes Program
The Victoria Government launched the Solar Homes Program with the intention to install 700,000 solar systems over 10 years. So far, over 20,000 homes have taken up the incentive to add solar systems to their homes thanks to the Solar Panel Rebate. The rebate provides eligible households in Victoria with up to $1,400 towards the cost of a solar PV system. This program will not only help to combat electricity bills but also reduce emissions in Victoria as more and more homes switch to renewable energy.
Along with the Solar Panel Rebate, the Victoria government also provides a $1,400 interest-free loan to eligible Victorians to further reduce the cost of installation. The loan is required to be paid back over four years, or can be repaid in a lump sum.
Solar battery rebate
After July 2023, the Victorian Government Battery Rebate program will shift from offering a rebate for solar batteries installed as part of a solar panel system to offering an interest-free loan to help offset the cost.
Adding a solar battery can help reduce the cost of your energy bill by storing solar energy harnessed during the day to use at night.
According to the government, 4,500 loans of up to $8,800 will be delivered as part of the Solar Homes Program.
Residential rental properties
The Victorian Government has also implemented a scheme to install solar systems in rental properties and help their tenants with their energy bills. According to Origin Energy 55% of renters say they would be willing to pay $10 a week more rent for a home with solar power. Landlords participating in this scheme can receive rebates of up to $1,400 on the system installation expenses. Landlords may also apply for an interest-free loan similar to the loan available for residential owners. To learn more about the eligibility criteria for the rebate and no-interest loan visit here.