The government is investing $82 million over 10 years to provide 50,000 rebates on solar panels for Victorian renters. To be eligible for the rebate and interest-free loans, landlords will need to strike an agreement with their tenants to share the costs of installation.
Under the program, renters will make a 25 per cent contribution toward the cost of installation through a small levy on rent spread over four years, with the government and the landlord to cover the rest. For example, for a $4,000 solar panel system, the government will cover half ($2000), the landlord will invest $1,000 over time, and the renters will pay a small monthly levy over four years that will total the remaining $1000.
The installation of solar panels is expected to save a typical Victorian household $890 on their electricity bill every year, while landlords will benefit by getting panels at low cost.
Owners corporations will also be eligible. In order to receive the 50 per cent rebate and no-interest loan, they will need to demonstrate that the benefits of installing solar panels will be passed on to tenants.
Solar Victoria is responsible for delivering the Solar Homes package and will provide further details on the program for renters and landlords in the coming months.
If you would like more information about the Solar Homes program, register for updates or call 1300 363 744.