The Victorian Government will help Victorians save around $890 a year on their power bills with half price solar panels at no up-front cost.
Jeff Kennett and the Liberals privatised Victoria’s power industry, promising competition would lead to cheaper electricity prices, but the only winners are energy companies making big profits while Victorians pay higher prices.
The Victorian Government is putting power back in the hands of Victorian households with the new Solar Homes program, which will see solar panels installed on 650,000 homes over ten years.
Under the $1.24 billion program, Victorians will be able to install a solar panel system for half price and pay the rest of the cost back over four years with an interest-free loan.
This will save the typical Victorian household up to $2,225 for installation of an average 4kW solar system and help them save $890 a year on their electricity bills.
A new independent agency, Solar Victoria, will be established to work with industry, regulators and training organisations to deliver the program.
Safety is paramount, and the Victorian Government will invest $9 million to support accreditation of 4,500 electricians to install solar panels. Solar panel systems will only be installed by accredited solar installers using approved products to ensure the highest safety standards.
This massive investment will bring the number of homes in Victoria with solar panels to one million within ten years, which will save Victorians $500 million a year on their electricity bills once the program is complete.
It will also cut our carbon emissions by almost four million tonnes – the same as taking one million of Victoria’s 4.6 million cars off the road – and generate 12.5 per cent of Victoria’s 40 per cent target for renewable energy by 2025.
However, we know Victorians are struggling with higher electricity prices right now. That’s why the Victorian Government will immediately invest $68 million to launch the Solar Homesprogram.
From today, Victorians will be able to install a solar panel system and get half of the cost back via a 50 per cent rebate.
This will be expanded to include the interest-free loan from July next year, under the Victorian Government.
The 50 per cent rebate on solar panel systems will be available to Victorians with a household income of up to $180,000 who live in their own home valued at up to $3 million – this means almost nine out of 10 Victorians who own their own house are eligible.
Reviewed 27 October 2022