Benjamin Franklin famously said that “‘In this world nothing can be said to be certain, except death and taxes.” Well, to that, I reckon we can add “electricity price rises”, a point that’s increasingly top of mind as many of us notice the high cost of our winter power bills.
The good news is that it is possible to alleviate the pain of high electricity bills by installing solar at a relatively affordable upfront cost. This is partly due to the attractive government rebates, as well as the falling costs of solar.
Why it’s a great time to install solar
In this article, I’ll explain the government rebates that are available and why it is a good time to consider installing solar panels on your home.
To do this, I’ll give you a worked example of how we advertise an upfront price of $704 for a 3.3kW quality solar system through the Mallee Sun Solar Bulk-Buy.
|Price inc GST||$4,480|
|Less the value of the Solar Homes rebate* (for solar panels)||$1,888|
|Less the Solar Homes interest-free loan* (Govt loan)||$1,888|
|Initial out-of-pocket cost after rebate and loan||$704|
The amount of $4,480 is the price of a solar power system through the Mallee Sun Solar Bulk-Buy for a standard, single-phase solar installation including GST. This price includes the Federal Government form of rebate – called Small-scale Technology Certificates (STCs). Without STCs, the price would be around 30% higher.
Solar Panels Rebate
The Solar Panels rebate of up to $1,888 is from the Victorian Government and is available to households who meet the eligibility criteria which include:
- it is an existing property
- property value is no more than $3M
- total household income is no more than $180k
- you haven’t already received a rebate from the Solar Homes program
If you are eligible for the Solar Panels rebate, you will most likely also be eligible for the Victorian Government’s interest-free loan (the same amount as the rebate). For a $1,888 loan the monthly repayments are $39.33 over 4 years – that’s $1.30 a day.
The Solar Panels rebate is also available for rental properties (but not the interest-free loan).
Find out more
Learn more about the Mallee Sun Solar Bulk-Buy at an online meeting on Thursday 25 June from 5-6pm. Register at malleesunsolar.org.au or call 1300 466 274 to request a quote.
Visit solar.vic.gov.au or call 1300 376 393 to find out about the Solar Homes program.