Great news for Victorians! Yesterday, the Andrews Government invested $68 million to launch their Solar Homes program. The new Victorian solar rebate will give homeowners the opportunity to install a solar panel system for half price and pay the rest of the cost back over four years with an interest-free loan.
What do we know?
- $68 million has been released to launch the Solar Homes program on 24,000 homes
- Victorians who are yet to install solar can now access 50% off the cost of a solar system, up to a maximum of $2,225 as of Sunday 19 August
- If the Andrews Labor Government are re-elected in November, a further incentive of an interest free loan for the remaining 50% up to $2,225 will be available to pay off over 4 years, from 1 July 2019.
- Homeowners with household income up to $180,000 and property valued up to $3 million are eligible
- Eligible systems must be installed by a Clean Energy Council accredited installer, using approved products
- Customers who signed a solar contract before Sunday 19 August, but have not yet had their solar installed can apply for the subsidy by registering here.
- Customers who sign a contract after Sunday 19 August also need to register their interest.
Eko Energy is advising customers not to wait until July 2019 to install their solar and access the interest free loan. The value of federal solar subsides, known as small-scale technology certificates (STCs), is set to decrease again by 6.5% on 1 January 2019 as planned, making the benefit of waiting minimal. Eko Energy has access to 24-month interest free financing for any interested customers.
We are already experiencing a higher volume of enquiries and it is likely that Victorian solar installers (including Jim's Energy) will quickly reach capacity. We encourage customers to avoid postponing their decision as this may significantly delay your installation. Please note, all contracts signed with Jim's Energy include a 10-day cooling off period, during which time more information on the program should become available.
This is an exciting time for Victoria and a fantastic opportunity for consumers to take back control of their energy bills and go solar. If you would like more information on the Solar Homes scheme, please submit the form below.
Register your interest in the Solar Homes scheme with Eco Energy:
Eko Energy are only referring to the official press release sent out by the Premier on Sunday 19 August. The information available indicates that it is the responsibility of the consumer to register for the Solar Homes program.
Image Source Associated Press, The Australian https://bit.ly/2PlPjqt