Premiere Dan Andrews has announced a major milestone for the Victorian Solar Home Program. More than 100,000 homes in the state now have rooftop solar, as a result of the State Government investment.
This investment includes two key components, a solar rebate of A$1,850 and 4-year interest-free loan of A$1,850. This reduces the upfront cost of adding to solar to your home (or rental) and enables you to reduce power bills now.
Personally, I applied and benefited from this scheme, bringing forward my plan to add solar to our home by a number of years. Since installation in February, our 6.5kW solar system is already paying dividends.
The program has been in place for the past couple of years and while the discounts have helped 100,000 homes add solar, the program is being expanded.
Premier Daniel Andrews announced this week that a further 42,000 homes will be eligible for the scheme.
In an exciting turn of events, the Solar battery rebate has also been expanded to enable 17,500 homes with solar to now add battery storage.
The program was previously restricted to specific postcodes, but is now open to all Victorians and provides a rebate of up to $4,174 off the price of a battery. Unfortunately, in the terms and conditions, it still stipulates that if you have previously taken part in the Solar Homes Program (I have), then you are not eligible for the battery rebate.
If this condition was lifted, I’d jump on this opportunitiy in a heartbeat. A Tesla Powerwall 2, currently costs between $11-12,000 with installed costs. With the rebate, this cost could be as low as A$7,000, dramatically changing the return on investment.
This has been one of the most beneficial pieces of Government policy that has positively impacted my family and now more than 100,000 families around the state.