The dream of harnessing the potential of solar energy has become a reality for thousands of Australian families with the Andrews government announcing on Sunday a huge $1.24 billion Victorian solar rebate program to be rolled out over the next 10 years.
650,000 homes will join the solar energy revolution, thanks to the new solar rebate scheme, which will provide 50% of funding for solar PV systems up to 4kW, saving households $890 each year on their energy bills.
How will it work? The Victorian solar rebate will pay up to $4450 upfront for the installation of rooftop panels on owner-occupied properties valued at less than $3 million, and the homeowner will have up to four years to pay back half the cost of the panels (up to $2225).
The solar rebate only covers systems that run up to 4kW, but larger systems will also be included in the scheme with only the first 4kW to be covered by the funding. And if you’ve already ordered solar panels for your property, rest assured, the Victorian solar rebate scheme will still work for you. Homeowners with solar panels on order can apply for a 50% rebate on installation thanks to a parallel $68 million program.
Better still, the Victorian solar rebate scheme will create 5,500 new jobs in the state and will assist in the training for 4,500 electricians.
The Victorian solar rebate scheme is a clear sign that decision-makers in state government are recognising that solar energy is very much the way of the future, and the best way for Australian families to embrace a positive environmental change that will also allow them to start saving money right away.
At Natural Solar we offer a range of innovative solar energy options for Australians looking to reduce their power bills – contact us now to find out more, or fill out the form below for an instant quote!
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.