In its state budget, the Andrews Government made an announcement regarding the extension of the Solar Homes program in Victoria and some updates done to it. The budget provides more than $42 million in funding to help households that are not in a good financial condition by installing solar panels and batteries.
Though most of the program remains the same, there are some amendments done to the battery subsidy.
What’s Changed & What’s Not Changed!
Solar Panels: As per the reports, the solar panel subsidy level remains the same and stays maintained at a $1,400 point-of-sale subsidy on every solar system purchase for this year.
Solar Victoria announced that 64,000 subsidies will be available for both owner occupied and rental households that are interested in going solar by installing solar PV systems in the financial year 2022-23.
Solar Battery: In the updated version of the Solar Homes program, solar batteries will witness a significant subsidy reduction. The current program provides a point of sale discount that goes maximum to $3,500, but the new one will drop the discount to a maximum of $2,950.
This reduction in rebate came after a slight drop in the market price of batteries. But there are other rebates too that you can apply for, bringing the total for 2022-23 to 5,200.
Ever since the inception of the Solar Homes program in 2018, more than 193,000 homes have received support for installing solar-powered systems, solar water heaters and solar batteries.
Stan Krpan, CEO of Solar Victoria, said the Solar Homes program has been continued to deliver energy benefits to the community. With this, we can power Victoria’s transition to a renewable and clean energy future.
Not only this, the program provides greater access to various subsidies and solar loans available for both households and businesses. Solar Homes program is expected to support up to 40 per cent target for renewable energy for Victoria by 2025, with household PVs generating up to 12.5 per cent of the total expectation.
Victoria currently leads the nation with an early investment in renewables and continues to drive down the energy bills and create thousands of new jobs in the solar sector.
If you want to get your residential or commercial solar panels installed under the Solar Homes Program, feel free to contact us for a consultation and no-obligation quote.