Up to 720,000 Victorian households could receive half price solar batteries, solar hot water systems and solar panels, as part of the Labor Government’s new $1.34 billion initiative, if re-elected.
This scheme is looking to cut electricity bills even further with an estimated 720,000 homes to be fitted with solar panels, solar batteries or solar hot water systems over the next 10 years.
How much will I save?
Eligible home owners will save up to $4,838 on new battery storage units, and an additional $650/year on electricity bills. Home owners will get a rebate of 50% of their solar battery unit (capped at $4,838), reducing to $3,714 by 2026.
Households could receive a rebate of 50% (capped at $2,225) for eligible Solar PV Systems, or 50% (capped at $1,000) for solar hot water systems. *Rebates are available for systems installed from 19 August, 2018.
Am I eligible?
Owner occupied households earning less than a joined $180,000 will be eligible for this subsidy, with a maximum home value of $3 million. Only one rebate is eligible per household. Households with already installed solar panels will be eligible for a rebate on solar battery systems.
How many houses can partake in the scheme?
720,000 households to install roof top solar and help reduce their electricity bills over the next 10 years
To ensure the safe installation of solar panels the program will also support workforce development, training and accreditation of electricians who will install the panels.
“This is a game changer for Victorian families fed up with big corporations that have been price gouging and ripping consumers off ever since Jeff Kennett and the Liberals privatised our electricity.”
“This is about modernising our electricity grid to help us transition to a more affordable, reliable and clean energy system.”
These costs are based on the SA Power network in Adelaide but prices may vary depending on your circumstances. This comparison assumes a general energy usage of 4000kWh/year for a residential customer on Energy Locals Time of Use Tariff – (TOU – Peak, Off-Peak & Solar Sponge).
The reference price is set by the Australian Energy Regulator (AER) for a financial year in relation to electricity supply to residential customers in the distribution region and is based on an assumed annual usage amount. Any difference between the reference price and the unconditional price of a plan is expressed as a percentage more or less than the reference price. The terms of any conditional discounts are shown, along with any further difference between the reference price and the discount applied if a condition is met, expressed as a percentage more or less than the reference price.