Significant interest in innovative residential electrification grants program

Industry has expressed significant interest in Solar Victoria’s innovative Residential Electrification Grants program, which will accelerate the state’s transition to all-electric homes.

Tuesday, 23 April 2024 at 11:37 pm
solar panels on the grey colour roof

The $10 million program, which is an Australian first, will empower organisations to enable bulk installations of solar PV and energy efficient hot water systems in a minimum of 50 homes each across Victoria.

Solar Victoria received 40 expressions of interest, with $39 million in funding requested, almost four times the funding available through the program. Applicants represent a range of sectors, from technology providers to construction, manufacturing to sustainability groups, and energy network providers.

This is a strong demonstration of the huge interest and momentum towards electrification projects that Victorian organisations are willing to invest in to meet household demand for solar PV and efficient hot water systems.

In Solar Victoria's recent customer surveys, 41% of respondents said that they are keen to transition to an all-electric home, 28% are thinking about it, and 13% have already fully transitioned thanks to our rebates and loans.

The Residential Electrification Grants program called for innovative projects such as the development of all electric and energy efficient homes and precincts, coordination of home renewable technologies or projects that enhance resilience during weather events and alleviate pressure on the electricity grid. Selection criteria also encouraged the use of local sourcing.

Successful applicants will leverage funding provided by Solar Victoria, along with their own co-funding, to embark on residential electrification projects.

This initiative will support Victoria’s Gas Substitution Roadmap by providing more choices for Victorians to cut their energy costs. Through phasing out gas and going all-electric, households can slash around $1,000 per year off household energy bills or up to $2,200 for households that also have solar installed.

Submissions are currently being assessed and successful applicants are expected to be announced in the coming months.

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Quotes attributable to Solar Victoria CEO Stan Krpan:

“This Residential Electrification Grants Program will make it easier than ever for Victorians to install solar and energy efficient hot water, as part of an innovative electrification project, while accelerating the household transition to all-electric homes on a scale not yet seen in Australia."

“The Residential Electrification Grants program builds on Solar Victoria’s successful Solar Homes Program, which has helped more than 300,000 Victorian households transition to clean, cheap, renewable energy since 2018.”