The Victorian government has announced a new Solar Homes program to help Victorians reduce their energy bills, a scheme that is expected to see as many as 650,000 homeowners receive financial incentives for installing solar panels in Vic.
The $1.24 billion program will allow Victorians 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.
Through the package, a typical household will save up to $2,225 for installation of an average 4kW solar system, and reduce up to $890 a year on their electricity bills.
With the rebate, eligible households now have an opportunity to get a better quality solar system for the price of a lower quality one. This is the best time to invest in a good system that is safer, more efficient, more durable, and that would continue to deliver a high performance year after year.
This program is expected to bring the number of homes in Victoria with solar panels to one million within ten years, and will save Victorians $500 million a year on their electricity bills once the program is complete.
It will also cut carbon emissions by almost four million tonnes, and generate 12.5 percent of Victoria’s 40 percent target for renewable energy by 2025.
The incentive, however, is only for homeowners and not for landlords or renters.
To be eligible for the 50 percent rebate on solar panel systems, households must have a combined income of up to $180,000, and a home valued at less than $3 million. This means almost 9 out of 10 Victorians who own their own house are eligible.
Other terms of eligibility include:
- The applicant must not already have a solar panel system installed on their property, unless an eligible system was installed on or after 19 August 2018;
- The applicant is an early adopter of solar PV looking to replace or expand their system. (An early adopter refers to anyone who had a solar PV system before the Premium Feed-in Tariff (PFiT) was introduced in November 2009.)
- Households have to choose a Clean Energy Council (CEC) Approved Product for solar panels and use a CEC Accredited Installer.
Total Solar Solutions is a Clean Energy Council Accredited Installer, as well as a Clean Energy Council Approved Solar Retailer. It offers an extensive range of top quality solar panels, provides excellent customer service, and is known for its exceptional workmanship.
To find out more about the new Solar Homes package and how it can help you reduce your energy bills, or to get the right quality solar system for your home, contact Total Solar Solutions on (03) 9729 0894 today.