The Victorian government’s $1.3 billion Solar Homes Program allows more families to install solar panels on their homes. It will help them to reduce their energy bills and transition to renewable energy.
The program offers a rebate of up to $1,400 for solar panels and an interest-free loan of up to $8,800 for a battery system. It means that many families can afford to install solar panels, even if they don’t have much money saved.
Solar panels can save families significant money on their energy bills. They can save up to $1,200 per year on average. It means that the Solar Homes Program can help families to put more money back in their pockets.
Minister for Energy and Resources Lily D’Ambrosio announced today that the combined household income threshold for the Solar Homes Program will increase from $180,000 to $210,000. It will allow an additional 10,000 Victorian households to access rebates and loans to help them install renewable energy technology at home.
Eligible households can access a $1,400 rebate for solar panels, saving them an average of $1,200 per year on their energy bills. They can also apply for an $8,800 interest-free loan for a household battery system, which can reduce the upfront installation costs to zero. Homes with both solar and a battery can save around $1,500 per year on their energy bills.
A solar hot water rebate of up to $1,000 is also available for eligible heat pumps and hot water systems, which can save up to $400 per year on energy bills.
The Solar Homes Program was established in 2018 and has helped more than 260,000 Victorian households cut their energy costs by switching to solar panels, batteries and energy-efficient hot water. About 61% of rebates go to households with a combined income of less than $100,000.
Quotes attributable to Minister for Energy and Resources Lily D’Ambrosio
“We’re opening up these grants to 10,000 more households, supporting more Victorians than ever before to transition their homes to running on cheap, renewable energy and paving the way for increasing home electrification.”
“To achieve our nation-leading renewable energy target of 95 per cent by 2035, we’re helping Victorian households transition to running on renewable energy.”