New Solar Rebate for Victorians
The “solar rebate” is the financial incentive given by the Australian government to homeowners who install a solar energy system in their home.
It’s part of the national SRES (Small-scale Renewable Energy Scheme). It applies to homeowners, small business owners, and communities. Examples of renewable energy initiatives covered by the scheme include:
- solar photovoltaic (PV) systems
- solar water heaters
- heat pumps
The government creates STCs (Small-scale Technology Certificates) when these systems are installed. The STC value is calculated based on the predicted amount of solar electricity the system will generate from the date of installation to 2030. That’s when the scheme ends.
You can create your STC when you install a solar energy system. But it’s more common for the solar company to create the STCs and use them as a discount against the solar energy system cost.
Why is the solar power rebate important for you?
The calculation of STCs is complex. But the bottom line is – any solar energy system you install will be cheaper because of the government’s solar rebate.
How much cheaper?
It varies from one system to another. But you can expect the costs of a solar energy system to be around 33% cheaper with the solar rebate taken into account.
Solar companies use the post-rebate price for their systems in advertising. A solar energy system costing $5,000 means that the real cost is $7,500. You pay the discounted price after the solar rebate.
It gets better for Victorians. The state government has its own solar rebate scheme, as part of its Solar Homes Package.
The solar rebate you can claim will be either 50% of the value of the system or a fixed value of $1,888.
Example 1: you install a solar energy system at home. The system costs $3,000. You can receive a solar rebate of $1,500 (50% of the cost).
Example 2: you install a solar energy system at home. The system costs $4,500. You can receive a solar rebate of $1,888 (the maximum permitted).
Example 3: you install a solar energy system at home. The system costs $6,000. You can receive a solar rebate of $1,888 (the maximum permitted).
The subsidy or rebate given by Victoria state government is in addition to the Australian Federal Government solar rebate. So in the examples above, the price of the system already includes the federal solar rebate amount.
That means more savings!
TIP: It’s important to get approval for your subsidy or ‘solar rebate’ before installing the solar energy system. You can’t apply for it after the installation.
Am I eligible for the solar rebate for Victorians?
Most residents in Victoria are eligible for the state subsidy or solar panel rebate. The solar rebate encourages people to:
- reduce their energy bills
- reduce the emission of greenhouse gases
- you must be the property owner
- the property is valued at less than $3 million
- your combined household taxable income is less than $180,000
- you don’t already have a solar energy system registered in your name
How can I apply for the VIC solar rebate?
There are simple steps to follow to claim the Victoria state government subsidy or the Vic solar rebate as it’s often called:
- Ask the solar company you choose to install your solar energy system to give you a quote.
- The solar installer will upload the quote on the Solar Solar Victoria Portal.
- Your application will be evaluated.
- Provide proof of your income.
- Provide proof of your council rates.
- If your eligibility is confirmed, you’ll receive an eligibility reference number.
- Give this number to your solar system installer.
Once the solar installer receives the eligibility number, they will go ahead with the installation of your solar energy system.
The solar company responsible for your solar system will deduct the value of the solar rebate for Victorians from the installation cost. You then pay the balance of the cost to the solar company.
Remember, you can get the federal solar rebate from the Australian government and the solar rebate for Victorians.
But you can only receive the Vic solar rebate once, unlike the federal solar rebate.
The federal rebate system allows you to make multiple claims. You can claim for more than one property or multiple solar energy systems. Even the upgrading of an existing solar panel system. The solar rebate for Victorians scheme doesn’t allow this.
Is there anything else I need to know about solar energy before asking for quotes?
The Victorian government is currently offering help to homeowners through interest-free loans to cover an amount equal to the solar rebate. This now makes installing a solar energy system even more attractive. But, you must repay the loan within four years.
TIP: There are only a specific number of government rebates allocated per month. It’s best to act quickly and submit your rebate application to get the maximum benefit of installing a solar energy system. You could soon be generating solar electricity and saving on energy bills.
Be sure to get quotes from reputable solar installers. Trione Energy only employs installers fully accredited by the Clean Energy Council. We also only use quality solar system components of the highest energy efficiency on the solar market in Australia. You shouldn’t settle for less.
TIP: First, get your solar quote and decide if you will go ahead with the installation. If you do, you don’t need to pay any money just yet.
Through your installer, apply for the Victorian government solar rebate. There is a monthly cap on rebates offered. If you miss out on the first try – plan for the following month.
Only when you have the reference number (eligibility number) should you finalise the contract for the solar panel installation with the solar company/installer.
You’re then set to go ahead and get your home solar energy system installed and benefit from years of cheap or free solar electricity. You’ll no longer be a slave to the electricity grid and electricity retailers.
Take advantage of the Victoria solar incentive now!