VIC Govt Solar Homes Scheme: New Policy Set To Save Victorians Up To 50% On A New Solar Energy System
Victorians – you have just hit the solar jackpot! The Victoria Government ‘Solar Homes’ Scheme, a new policy set to save your household up to $2,225 on a 4kW solar energy system, has now been released following an exciting media release from the Victorian Government just a few days ago. The aim of the scheme is to put solar panels on 650,000 rooves over 10 years, which is an estimated renewable energy investment of $1.24 billion. Consequently, there will be a tremendous rush for solar installation in Victoria as citizens look to claim on this incredible incentive. The document claims that an average 4kW system could save around $890 a year on energy costs which will represent an incredible easement of the energy costs for Victorian households. At an average cost of $4,450 (after STCs) for a 4kW solar system, the payback period (the time it takes for your savings on electricity to pay off the cost of your system) is just 3 years. Though the rebate equals a 50% copayment for a 4kW system, that certainly won’t (and shouldn’t!) stop you from getting a bigger system. From our experience installing hundreds of systems across Victoria, most families benefit more from a 6.5kW system. For a larger system under the VIC Govt Solar Homes Scheme, you would still receive the full $2,225 Solar Homes subsidy, keeping your total power bill lower AND only increasing your payback period minutely.
Adding In The Federal Rebate And Reduced Solar Cost Even Further!
Currently in Australia, the Small-scale Renewable Energy Scheme (SRES – widely known as ‘The Solar Rebate‘) provides Small-scale Technology Certificates (or STCs), which lowers the total cost of a rooftop solar installation for your home. At the moment in Melbourne, this reduces the cost of solar by around $560 per kilowatt of solar panels. The figure from the Victorian Government of $4,450 for a 4-kilowatt system, is after STCs have reduced the system price. This means the Government have essentially paid TWO-THIRDS of your solar system and installation for you (1/3 from the Federal Government and 1/3 from the Victorian Government).
And the best news yet – many of you will be eligible RIGHT NOW
Victorian households are eligible to receive a Solar Homes Scheme rebate if the applicant:
- has a combined household income of less than $180,000 per annum before tax (the based on the most recent tax assessment notices for the home owners will suffice)
- is an owner-occupier of a home valued at under $3,000,000 (a copy of a recent Council rates notice will be required)
- the household does not already have a solar panel system installed
- chooses a Clean Energy Council (CEC) Approved Product (for solar panels) and uses a CEC Accredited Installer
- chooses a product that is on the Clean Energy Regulator’s “Register of approved solar hot water heaters” (for Solar hot water)
- has had an eligible solar panel system installed on or after 19 August 2018, and
- engages an installer who can provide a statement that they have not received a WorkSafe infringement notice in the past three years.”
A Wise Decision
The Victorian Government policy requires that rebates under the VIC Govt Solar Homes Scheme can only be claimed when the system is installed by accredited solar installers who use approved hardware and have a clean history. In doing this, the Victorian Government is protecting the citizens who are rushing to pick their installer, ensuring that the work is done by professionals and to the highest standards – not the cheapest cost. Here at GEM Energy, we are CEC Approved Retailers AND Installers – with a stellar record for quality and system life. We have a dedicated in-house engineering team, system monitoring expert and Quality Assurance Officer. We have ISO 9001:2015 Certification, which is a voluntary certification that demonstrates our commitment to quality and performance of your system at all times.
Look no further than GEM Energy’s award-winning team for your install under the VIC Govt Solar Homes Scheme and get in quick while this incredible policy is active. Give us a call on 1300 969 471 or click below to get a quote today.