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Victorian state government interest-free solar loans

The financial barriers to going solar are being whittled away – for both homeowners and renters – thanks to a revamp of the Victorian state government’s solar rebate program.

From July 1 2019, the Victorian state government is offering interest-free loans for solar panel systems in addition to the solar panels rebate.  This article explains how the loan works, the financial benefits and eligibility criteria.

First homeowners, then renters too!

Initially the interest-free loan will only be available to homeowners.  But towards the end of 2019 renters, together with their landlord, will be able to apply too.  From July 1, those in rental properties will be able to access the rebate without the loan.

The loan amount will be equivalent to the value of the rebate.  The rebate is worth up to $2,225 – so that means you could get an interest-free loan of up to $2,225, as well as the rebate.

Savings must be more than loan

Interest-free loans must be repaid within 4 years or sooner, if you like.  The savings from going solar, over the first 4 years, must be more than the loan. The bill savings information has to be provided by your solar retailer as part of the application process.

Upfront cost reduced

If your application is successful, your solar provider would be reimbursed for the rebate and loan amounts.  You would pay your solar retailer any remaining balance.  In some cases, depending on the cost of the solar system, you may have no upfront cost.

Who’s eligible

The eligibility criteria include:

  • a combined household taxable income of less than $180,000 per year
  • the property is valued at under $3 million
  • you do not have an existing solar PV system (the exception is if you installed your system before 1 November 2009)

All up, this new interest-free loan is well worth considering if you are thinking of going solar.

If you would like to get an obligation-free quote from the Mallee Sun Solar Bulk Buy, fill in this online form or call 1300 466 274.  For more information about the Victorian Solar Rebate, visit solar.vic.gov.au

 

Filed Under: News, Solar News

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"Swan Hill Rural City Council is pleased to support Mallee Sun Solar Bulk Buy." - Mayor Bill Moar, Swan Hill Rural City Council

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Testimonials

  • Gerard Maloney, Swan HillGerard Maloney, Swan Hill6.6kW solar power system

    “I chose to go through the Mallee Sun Solar Bulk Buy because I don’t know much about solar and I liked the fact that it is backed by Council. I also like that there is a give-back to local community groups in the form of free solar.”

  • Faye and Maxwell Palmer, NyahFaye and Maxwell Palmer, Nyah5.28kW solar power system

    "We were impressed with the installers, how quickly they worked and their attention to detail. Now we are ready for the summer. We’ll be able to use the air conditioning and know that our solar is powering it. That’s a great feeling!”

  • David Burton, NyahDavid Burton, NyahTwo solar power systems: General Store -13.2kW, Home - 6.6kW

    "I cannot speak highly enough of Specialized Solar and also the local installers from Gary Schmidt Electrical who did the installation. It’s also good to know that the community will benefit too, through free solar for community groups through the bulk-buy."


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Contact the Mash Mallee Solar Bulk Buy

Call: 1300-466-274
Email: info@cvga.org.au
Level 1, The Hub, 233 Barker St
Castlemaine Vic 3450

ABN: 71 256 878 748

The Mallee Sun Solar Bulk Buy is a project of the Central Victorian Greenhouse Alliance (CVGA), a not-for-profit organisation based in Castlemaine, Central Victoria. CVGA supports 13 councils in central and northern Victoria with projects that help tackle climate change.

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