Solar Victoria have officially released all information regarding the solar rebates that will be on offer from 1st July 2019.
Solar Victoria rebates include:
- Solar panel (PV) rebate
- Solar for rental properties
- Interest-free loan for solar PV
- Solar battery rebate
The solar panel (PV) rebate is essentially the same as it was before it closed, with up to $2,225 reduced from the final installation price, under the proviso selected criteria is met. The only difference is that now the solar retailer (us) can use it as a cash discount. This inevitably makes the total solar system cost cheaper by up to $2,225 on top of the Federal STC discount. Not bad right?
The solar for rental properties rebate is a new scheme that allows landlords to have a solar system installed on their investment property and receive up to $2,225 off the final installation price – subject to a Solar Homes Landlord-Tenant Agreement being signed. Both parties (landlord and tenant) must agree to participate in the program for the rebate to be claimed. This is a 'no-brainer' as it adds value to the property whilst reducing electricity costs for renters. A win-win.
The interest-free loan for solar PV is arguably the most appealing scheme Solar Victoria have introduced. Under the new application process, the rebate and loan amounts will be deducted from the cost of your system – meaning that you only need to pay any outstanding balance once the system is installed. If the system cost is less than $4,450, there will be no upfront cost. All that is required is to pay back the loan amount ($2,225) over four (4) years. If the total solar system cost is over $4,450 you will need to pay the excess to the solar provider, which can be done across three (3) incremental deposits, 10%, 40% and 50%.
The solar battery rebate is a substantial step towards making battery units a viable option for Victorians with up to $4,838 discounted off the final price. However, it’s only applicable to those who already have a solar system installed and are currently within the ‘growth areas’ selected by Solar Victoria. All rebates will be staggered over a 10 year period, with 1,000 rebates on offer each year. Eligible postcodes include:
3048 / 3038 / 3059 / 3064 / 3106 / 3752 / 3754 / 3212 / 3217 / 3218 / 3226 / 3228 / 3024 / 3351 / 3377 / 3467 / 3936 / 3939 / 3941 / 3942 / 3943 / 3944 / 3977 / 3978
There is a chance more postcodes will be added to the 'growth areas' determined by Solar Victoria over the next 10 years.
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If you meet the eligibility criteria…
- Combined income of less than $180,000 per annum
- Property is valued at under $3 million
- Sit within a targeted growth area as identified by Solar Victoria (battery only)
…then you are entitled to apply for one (1) of the rebates offered.
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Solar Victoria have shown their commitment to renewable energy with the release of all four solar rebate schemes. There has never been a more exciting time to invest in the sun!
For a free ‘over the phone’ consultation please give us a call on 1300 740 784.
