Solar Panel (PV) Rebates in Victoria 2024

If you want to switch to solar power but get stopped by the upfront cost as it is too high, there is good news for you! The Victorian Government offers various solar panel rebates, subsidies, and incentives to Victorians so they can reduce energy costs and support a cleaner future. Keep reading to find out more about these solar incentives in Victoria for 2024. Join over 200,000 residents by taking advantage of these benefits. 

Check Your Eligibility

As a Victorian homeowner, you may qualify for a solar panel (PV) rebate if:

• You own and live in the property or are building a home where the system will be installed.
• All owners’ combined household taxable income is under $210,000 per year.
• The property is valued at less than $3 million (whether it’s an existing home or one under construction).
• The property has not previously received a solar panel or solar battery rebate under this program.
• The property hasn’t had a solar panel system installed in the last 10 years.*

If you received a Solar Homes rebate and later moved to a new property, you can still apply for another rebate at your new address, as long as it has not received these rebates before.

*If you are part of the Premium Feed-in Tariff scheme, consider if it’s better to replace your current system before the scheme ends on 1 November 2024.

At this stage, it is necessary to understand the importance of authorized solar retailers. They have expert technicians and staff who can provide their customers with authentic and latest knowledge and assist them in choosing eligible products for the installation.

What is the Rebate for Solar Panels in Victoria?

Here’s a breakdown of the various solar rebate programs available in Victoria:

Solar Panel (PV) Rebate

This rebate offers up to $1,400 for installing solar panel systems. It’s available for homeowners of existing properties, homes under construction, and rental properties.

Solar consumers can further reduce costs by applying for an interest-free loan, equal to the rebate amount. The loan can be repaid over four years or in one lump sum.

Solar Hot Water Rebate

Hot water systems account for about 21% of total household energy use. Solar hot water or heat pump systems can lower bills and make your home more eco-friendly. Solar power users can save $140-$400 annually on electricity bills after installing these systems. The rebate offers up to $1,000 on eligible hot water systems.

To qualify, your hot water system must be at least three years old. Follow these steps for installation:

1. Get a quote from an authorized retailer, who will assist with your eligibility.
2. Apply for the rebate.
3. Once approved, the retailer will install the system.
4. The rebate amount is deducted from the total cost, and you’ll pay the remaining balance.

If you have a broken or unsafe system, you can apply for this rebate immediately without waiting for an eligibility number.

Note: The rebate is calculated after applying other discounts (such as STC and VEEC) and covers up to 50% of the system’s purchase price, capped at $1,000.

Solar Rebate for Rental Properties

The Solar for Rentals program provides rental property owners with up to $1,400 in rebates for installing solar panels. Owners can also apply for an interest-free loan to reduce the upfront cost. This program is perfect as it helps boost property value and appeal while reducing energy costs.

Solar Battery Loans

This program helps reduce the upfront cost of installing solar batteries, with up to 500 interest-free loans of up to $8,800 available for 2023-24. Repayment is spread over four years.

Eligibility:

• Have a solar panel system with an inverter capacity of at least 5kW, or get one installed with the battery.
• Use a battery with a storage capacity of at least 6kWh, listed on Solar Victoria’s battery product list.
• Not have an existing energy storage system.
• Get pre-approval from the Distributed Network Service Provider (DNSP) to connect the battery to the grid.

You can apply for a loan through an authorized retailer and complete the application after installation.

Solar for Community Housing

This rebate program is designed for not-for-profit organizations providing affordable rental housing to low-income households. Eligible organizations can receive up to $1,400 in rebates for installing solar panels.

To apply:

1. Check eligibility on the official website.
2. Get quotes from authorized retailers.
3. Submit verification documents and household information.
4. Once accepted, proceed with the installation.

Updates for 2024

Here are some key updates for 2024:

• 53,000 solar panel rebates and interest-free loans will be available.
• 4,500 hot water rebates of $1,000 each will be offered in 2023-24.
• The program will offer 4,500 interest-free loans of up to $8,800 for solar batteries through the Solar Homes Program.

Solar Victoria has also introduced new requirements to support energy grid stability and improve security and quality measures to meet future energy needs. So, explore all the available rebates, incentives, and loans, and always work with authorized retailers to meet the program’s requirements. Solar energy is not only affordable but also a sustainable choice for the future.

Take Away

Each year, the government strives to expand funding and create new programs to encourage the adoption of solar solutions for homes and businesses. To benefit from these rebates, you need to reach out to an authorized dealer to start the process and arrange for installation.

At Ultimate Solar Energy, we make your decision-making process so simple. We design customized solutions based on your requirements, using only the most premium products.

Get a Free Quote now!