Solar panels are gaining popularity in recent times. Many households are showing their interest and opting for solar panels. The government also provides solar rebates making it a perfect choice. If an individual lives in Victoria or Melbourne, opting for solar panels is the best choice.
The state of Victoria is best among all the Australian states for solar energy. This post will discuss the solar rebate Victoria and much more.
What is the solar rebate Victoria?
The government of Victoria offers specific incentives and rebate options for those small businesses and residences who opt for solar energy. But the home and the company must meet the eligibility criteria to receive the rebate. The offered solar rebates are unique and motivate more people to choose solar energy.
The rebate scheme works along with Australian and Victorian climate and emission reduction goals and promotes solar and other renewable energy sources.
How does the Victorian solar rebate function?
If an individual makes a first-time investment in solar panels, they are eligible for the solar panel rebate Victorian. The refund is a part of the solar homes program and hence is available for every household located in Victoria that are purchasing solar energy.
The residential solar rebate covers around half of the price of the panels, and therefore an individual only has to pay 50% of the original price. The refund provides a maximum cost of $1,400 for the solar panels.
Small business owners are also allowed to take advantage of this fantastic feature. They are eligible for the small business solar rebate. A rented household is also suitable for this rebate. This rebate has exactly similar features as the residential solar rebate. The only difference that exists between them is that the small business solar rebate provides a maximum cost of $3,500 on purchasing a solar system.
For further incentives, the government of Victoria provides interest-free loans to owner-occupiers. The amount of the loan is similar to their rebate amount. The repayment is also easy-going since the customers can repay the loan amount over four years.
The rebates are incredibly unique, but one needs to fulfil specific eligibility criteria to get a refund.
Eligibility criteria for the applicant of solar rebate Victoria
- The applicant needs to be the owner-occupier of the property.
- The taxable income of the property owners must be less than the amount of $180,000 per year when combined.
- The value of the existing property must be less than the amount of $3 million.
- As an owner-occupier, the applicant should not have received a rebate under the solar homes program.
What are the different types of solar rebates offered?
The Victorian government offers different types of solar rebates for those individuals who want to opt for solar panels. The refund makes the panels super affordable and extremely easy to buy.
Under the Victorian government solar rebates, the types of rebates are:
- The residential solar rebate provides a reimbursement of up to $1,400
- Small business solar rebate offers up to $3,500
- Solar battery rebate provides up to $3,500. Using this rebate will allow an individual to make excess savings since they already receive rebates on the solar panels. It is an excellent feature and enables house owners to invest more in solar batteries to reduce other monthly bills.
- There are feed-in tariffs as well. These refer to an ongoing scheme using which an individual can receive rebate money throughout their entire life.
Apart from these, the federal government rebate is also available. It has no relation with the new Victorian refund, and they have no impact on each other. A federal government rebate is an excellent option since it reduces the price of solar panels by up to one-third of its original rate.
They are unique and provide a tremendous amount of help for people planning to invest in solar energy.
Now, since an individual has a much broader idea regarding Victorian solar rebates, it will be easier for them to move towards purchasing a solar system. The solar panels reduce monthly costs and make a unique environment friendly.
Help the world to meet the renewable energy targets and play a role in improving the natural environmental condition.