Installing solar on your home has become cheaper, easier and smarter over time with rebates helping to drive down install costs and reduce payback periods to around 3-4 years.
There are two subsidies that reduce the cost of solar for Victorian homeowners:
- The federal government’s solar scheme which uses Small-scale Technology Certificates (STCs) to reduce the cost of solar panels by around 30%. This reduction is generally included in the purchase price.
- The Solar Homes Program from the Victorian government: provides rebates worth up to $1,888 for eligible households. There is also an interest-free loan of up to the same amount. The rebate (not the loan) is also available for tenanted properties.
How the Solar Homes Rebate works
- Obtain a quote from a Clean Energy Council approved solar retailer (such as through the Mallee Sun Solar Bulk Buy approved solar retailer, Specialized Solar).
- Apply for the Victorian Solar Homes Rebate via solar.vic.gov.au
- After receiving confirmation of your eligibility, place your order with your solar retailer (and typically pay a small deposit).
- The system is installed; it is then signed off by an independent inspector.
- The amount you pay, generally on installation day, is the amount remaining after the Solar Homes rebate and interest-free loan (if applicable) have been deducted. For example:
- Cost of 3.3kW solar system: $4,480 (STCs already deducted)
- Less Solar Homes rebate: $1,888
- Less Solar Homes interest-free loan: $1,888
- Amount you pay your solar retailer: $704
On a 3.3kW solar system, expect bill savings of around $750 each year assuming you use 40% of the electricity generated by your solar system.
This is a payback of 3.4 years on your investment of $2,592 (i.e. $4,480 system cost less rebate of $1,888) – not bad at all!
Find out more
Learn more at a solar info meeting – hosted by the Mallee Sun Solar Bulk Buy – at the Swan Hill information Centre on 26 February, 6pm-7.30pm.
Mallee Sun Solar Bulk Buy is a project of the Central Victorian Greenhouse Alliance, in partnership with Swan Hill Rural City Council.
malleesunsolar.org.au or call 1300 466 274.