To assist the Australian Government in reaching the milestone of net-zero emissions, Victoria is ready to play a keen role in the continuance of the Solar Homes Program. With this announcement, Victorian Government makes sure that it leads the nation in achieving the target milestone of delivering energy and cost savings to households by reducing a significant amount in the upfront cost of installing a solar system.
Under the extended $1.3 billion Solar Homes program, households that haven’t claimed a solar rebate previously will be eligible for getting up to $2,400 in rebates for any solar product they want to install. Along with this, a $1,400 interest-free loan amount will be available for those who want to install a solar PV system.
For battery installation, additional 1,700 battery rebates will be available, but the rebate value will slightly reduce to $2,950, keeping in mind the drop in market price of batteries. To continue providing the Solar Homes rebate, the state budget has allocated an amount of more than $42 million in funding for Solar Victoria. Up to 64,000 rebates are available for both owner-occupied properties and rental households planning to install solar PV systems.
The utmost goal behind expanding the Solar Homes Program is to meet the rising energy demands and ensure sustainable growth of the solar and renewable industry in Victoria.
Ever since the launch of the program in 2018, more than 193,000 Victorian households have benefitted from a rebate for installing a solar photovoltaic (PV) system, solar hot water system or a solar battery.
Solar Homes Program is not just formulated to provide rebates to eligible households planning to invest in solar but also to reduce harmful emissions, improve renewable energy generation capacity, reduce net-zero emissions, and introduce more solar jobs in the energy sector in Victoria for a sustainable future.
Conclusion
The Solar Homes Program will cut Victoria’s carbon emissions by almost four million tonnes and is expected to generate 12.5 per cent of Victoria’s 40 per cent target for renewable energy by 2025 by providing solar rebates to households.
