Recently launched in Victoria, the Daniel Andrews State Government have released a 50 per cent rebate for homeowners to install a solar PV system in the home, aiming to reduce Victorian household energy bills.
This new rebate gives eligible households across Victoria a financial rebate of 50 per cent off the price to install a new solar system on their property. This rebate is only available to the first 24,000 successful applicants and will form part of the Labor Government’s plan to power 650,000 Victorian homes over the next 10 years with solar renewable energy.*
What is the value of the Solar Victoria Rebate?
Solar Victoria Rebate has a value of 50 per cent off the price for installing a new solar system on your property.**
When does the Solar Victoria rebate end?
The Solar Victoria Rebate will close for new rebate applications on 30 June 2019 or earlier if allocation has been exhausted. This rebate is capped to give only 24,000 Victorian and eligible applicants to be successful in receiving their rebate from the solar installation.
If re-elected in the November 2018 State Election, the State Government have committed to extend this rebate further to give homeowners an opportunity to apply for a no-interest loan for up to 4 years when installing a new solar system. If un-elected, this no-interest loan scheme may not be launched with the new Government.
To be eligible to claim your Solar Victoria Rebate you must meet specific criteria, some eligibility criteria includes:
Solar system installed after 19 August 2018
Combined household income of up to $180,000 per annum before tax
There is no restriction on the size of the system that you must install to be eligible to claim your rebate. If your roof can only fit 2kW worth of solar panels and you meet eligibility criteria, you can claim your 50 per cent rebate on the installation price of your 2kW system. If your rooftop can fit a 4kW solar PV system, you can claim up to 50 per cent of the installation cost of your new solar system.
Savings to expect from installing a rooftop solar system
When installing solar on your property, you can expect to start seeing your return on investment just from the first kilowatt hour of energy produced. It is estimated that households can expect to receive up to an $890 reduction per year on energy costs from installing a 4kW solar PV system*.
If your rooftop solar produces more energy than your home uses/needs, this energy is sent to the national grid and you are paid credits for this. These credits are paid to you in the form of a feed-in tariff, paid to you by your energy retailer and displays as a credit on your energy bill. In Victoria, the feed-in tariff has recently changed to include an option of a time-varying tariff alongside a single-rate tariff. If your energy retailer allocates you to a time-varying tariff, you will be paid different rates for the energy exported to the grid at different times. Here are the rates for the time-varying feed-in tariff for Victorian households:
**Rebate capped at 50 per cent off the purchase price to the value of $2225.00. For more information, please contact Solar Service Group on 1300 40 41 42.
†Only eligible products accredited by the Clean Energy Council of Australia may be redeemed for your Solar Victoria Rebate. For a comprehensive list of products please visit Clean Energy Council Approved Products here.
Solar Service Group only use Clean Energy Council approved products for all solar installations. For further information, please contact Solar Service Group on 1300 40 41 42.
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Solar Service Group are a trusted Australian company that specialise in solar battery storage solutions, service, maintenance and repairs of PV solar systems nationally. With over 30 years combined industry experience and a genuine focus on our customer’s experience we are the team you can trust to protect the safety and efficiency of your solar system.