And for those of you with more time…
What is a solar rebate?
In short, a solar rebate is a government subsidy that helps to reduce the cost of your solar system. In Australia, the Federal and some State Governments have generous incentives available to homeowners and small businesses who want to make the switch to solar.
These incentives help to make the transition to renewable energy more affordable. For some lucky Australians (Victorians in particular) transitioning to solar can be virtually free as their State Government has its own independent set of subsidies.
Accessing your rebate is easy
You solar retailer (such as Sola.io) will help you to access any rebates you’re entitled to. We check your eligibility and submit the rebate application for you. We then deduct the rebate amount from the cost of your solar system and installation. In summary, the federal and/or state governments partially foot the bill for your new system.
Check out our eligibility checklist at the bottom of this article…
If you’re in Victoria, solar is the most affordable for three reasons
Right now (November 2020) eligible homeowners living in Victoria can access three incentives:
- Federal Government subsidy which is available to all Australians
- Victoria State Government Rebates know as the Solar Homes Program (available to Victorians)
- An interest-free loan from the Victorian Government of equal value to their state government rebate
Victorian State Government Rebate (Solar Homes Program)
When it comes to state-based rebates, every state is different. Until December 16, Victorians have access to the highest rebates across Australia (up to $1850 towards solar installation plus an interest-free loan of equal amount).
These rebates are limited, not only due to the current end date of December 16th but also due to the staggered release of rebates. Approximately 2,500 rebates are released by the Victorian government each fortnight. It’s first in, first served.
Federal Government Subsidy
The Federal Government subsidy issues households and businesses Small-Scale Technology Certificates (STC) when purchasing a new solar system.
The value of the Federal STC subsidy depends on:
- Size of your solar system
- Your location
- Date of installation
On average, this rebate will reduce the cost of your solar panel installation by approximately 30%.
Getting solar sooner could save you thousands
Why? Because the rebates are starting to disappear. Firstly, the Victorian state government solar incentives are only confirmed until December 16 2020. If they continue after this date, they will decrease.
On top of this, the Australian federal government is reducing solar rebates each year until they are completely phased out by 2031. There are also limits to the number of people that can access certain rebates. Once this quota is filled, that’s it.
Now really is the most affordable time to switch to solar. Book a call today to discuss your eligibility and options. We’re here to help.
Solar rebate eligibility check
If you say yes to the following you are eligible for the Victorian state government solar rebate:
- I am the owner-occupier of my property
- The combined taxable income of my household is less than $180,000 per year (based on last year’s Tax Assessment)
- My property is valued under $3 million
- I do not have a solar system