1. Are there government solar incentives in VIC?
Many people in Victoria are now thinking about installing solar panels because incentives and rebates have made it more affordable than ever. There are numerous government solar incentives that make it a cost effective investment.
In August 2018, the Victorian government announced their own state-level rebate scheme: the ‘Solar Homes Package‘.
The value of this Victorian rebate from July 2021 is ‘up to’ a value of $1,400 or 50% of the price; whichever is lowest. So:
- if you buy a solar system for $2,500, you can apply for a $1,250 rebate
- if you purchase a system for $4,450 you can apply for the maximum $1,400 rebate
- if you buy a system for $6,000 you can only apply for a $1,400 rebate – because it’s capped.
You are eligible if you live in a home worth under $3 million with a household income under $180,000. That’s 9 out of 10 Victorian homeowners.
The Victorian government’s rebate is on top of the Federal scheme.
So if you buy a 6.6kW solar system for $5,200 you are are actually getting a system worth $9,500; taking into account Federal subsidy value of approximately $2,900 and the Victorian rebate (subsidy) value of $1,400.
2. Who is eligible for the rebate/subsidy, specifically?
According to information from the State Government’s Solar Victoria website:
Victorian households are eligible to receive a rebate for installing a solar PV system if they meet the following criteria:
- They are the owner-occupier of the property
- The owners have a combined household taxable income of less than $180,000 per year (based on an Australian Tax Office Notice of Assessment from the last two years. Where there is more one applicant, both documents have to be from the same financial year.)
- It is an existing property, valued at under $3 million
- They do not have an existing solar PV system
On the last point, early adopters who installed a solar power system prior to 1 November 2009 are eligible to replace or expand their existing system.
3. How do I claim the VIC solar rebate?
- Contact your chosen solar provider for a quote.
- The provider will upload your quote to the Solar Victoria Portal, which starts the online process for your eligibility assessment.
- Once this is complete, upload proof of income and a council rates notice to confirm your details.
- When eligibility is confirmed, you will receive an eligibility number
- Give the eligibility number to your solar provider, who will then be able to proceed with the installation
- The provider will claim the subsidy on your behalf and deduct the subsidy amount from the total cost of your system.
- You pay the outstanding balance directly to your provider once your solar power system is installed
4. Can I ‘double up’ and claim both the Victorian rebate as well as the federal rebate?
Yes. However, be aware you can only claim the Victorian rebate once, but can claim the federal solar rebate as many times as you like (for multiple properties, or new installations, etc).You are also not allowed to claim the Victorian government’s rebate to upgrade an existing system – if you already have solar panels on your roof, you’re only eligible for the federal rebate (except in the example provided above).
5. Should I be in a rush to claim it?
The first phase of Victorian rebate was fully funded until June the 30th 2019 or until 24,000 households took it up; whichever came first. On April 12, 2019, Solar Victoria announced the program for 2018-19 was fully subscribed.
The scheme kicked off again on July 1, with a set number of rebates available each month, accompanied by an option for no-interest loans to cover some/all of the unsubsidised balance of a system.
In the first 24 hours after the rebate was originally announced, there was a massive rush on solar panels in Victoria. So let no one say that Victorians aren’t swayed by free money!
Our honest opinion is that while there’s never a better time to buy a system than the present and people are always welcome to request quotes for solar, please, please…
Look before you leap!
You only get one shot at this generous rebate so use it to invest in a system that will do the job you need it to; producing heaps of solar energy all year round to get your electricity bills as low as possible.
6. What is the minimum feed in tariff？
The minimum feed in tariff is the amount in cents that your electricity retailer will pay your for any excess solar generation that your property does not use.
7. How much does it cost?
The cost of solar panels varies, depending on the package you go for. However, Solar Today offers no deposit and interest-free options, we make it easy to switch to clean energy without burning a hole in your pocket. Our cash flow positive package means that your savings from electricity bills more than cover the solar panel costs.
8. Do you have interest free payment plans?
Yes, we have many interest free payment options available. Choose the right plan that fit your needs and budgets.