How to Discover & Take Advantage of Solar Incentives in Victoria

We all know that solar panel installations in Melbourne offer many benefits and one of them is rebates and incentives. It is the best thing that makes solar panel installation affordable for many Aussies. Everyone is aware that solar panel installation offers rebates, but do you know the different types of rebates and incentives for solar panel installation in Melbourne? Well, if you don’t know, then worry not. We are here to help you with that.

A comprehensive guide that shares the overview of solar rebates and incentives in Victoria.

Solar panel installation is the smartest decision you may have made. It is beneficial in two ways:

1. environmental benefits

2. financial benefits.

If you want to dig deeper and want an overview of solar panel installation’s benefits, rebates, and incentives, then you are at the perfect place. This guide shares an overview of solar rebates and incentives given in Victoria.

• Victoria solar panel rebates: You need to fit into this eligibility criterion to avail benefits from Victoria solar panel rebates.

Eligibility criteria:

1. The property must be valued under $3 million.
2. Combined taxable income must be under $210,000 per year.
3. Your property must not have received any solar panel rebates in the last 10 years.
4. Rental properties are now eligible, but only two rental properties are eligible.

• Victoria apartment solar panel rebate: You can get a rebate of up to $2,800 per apartment, capped at $140,000 per owner.

Eligibility criteria:

1. This is only for owners who are classified as “tier three” or “tier four” under the Owners Corporation Act 2006 (Vic).
2. It is applicable for apartment buildings that have 8 storeys. It also applies to an attached townhouse with shared rooftop areas.
3. It should provide up to $500 in estimated annual energy bill savings per household.

• Solar battery loan: In this, one can receive a rebate of up to $8,800 in interest interest-free loan for battery storage.

Eligibility criteria:

1. Your property must have a PV solar system with a 5 kW inverter system.
2. The battery for which you are applying for the loan must have a 6 kWh capacity and be VPP-ready.
3. You must not have received any solar battery rebates earlier.
4. The rules have been updated, and a credit check is now required for the loan approval process.

• Federal solar incentives (SRES): In this one, the Australian government has the Small Scale Renewable Energy Scheme. It provides a small-scale technology certificate. You can use this certificate and reduce the solar panel installation cost by 30%.
• Victoria Feed-in Tariffs: This one lets you earn more from the excess energy your solar panels produce. The excessive energy goes back to the grind and to your energy retailers. And your energy retailer pays you money for the excess energy that has been sent back.
• Solar rebates for rental properties: Now, rental properties are also eligible for a solar panel rebate. The only thing they must have is that they must fit into the standard solar panel installation criteria, and a rental agreement must be signed between the landlord and the tenant.
• Hot water rebate: For a hot water rebate, owners must have a hot water system that is at least 3 years old. If you have this, you are eligible for hot water rebates.

In a nutshell, the Australian government has about 7 plans for solar rebates and incentives. You have to decide which one is suitable for you, as well as what you are eligible for.

Conclusion

Rebates and incentives have made solar panel installation an affordable option to choose energy efficiency and a green future. Solar panel installation in Melbourne not only benefits the environment but will also assist you with savings. Sunburn Solar is one of the best solar installation companies in Australia. They assist you with your energy requirements and share the best advice for solar panel installation. Reach out to us today and let us assist you with residential solar panel installation and commercial solar panel installation.