Slashing energy bills with a record year for solar

Minister for Energy and Resources today announced another record year for Solar Homes with more than 78,000 solar panels, hot water systems and batteries installed in 2024 – the largest year on record.

That’s more families than ever saving $1,000 each year on their energy bills by powering their homes with solar, if combined with a hot water heat pump they can save up to $1,400 a year or at least $1,600 with a battery.

More than 300,000 solar panels have been installed through the program. That’s more than 2,100 megawatts of solar power that can be generated from Victorian rooftops – the equivalent of Loy Yang A, one of the largest coal fired power stations in Victoria.

More than 31,000 energy-efficient hot water systems we’re installed in 2024. That’s a 151 percent increase in installations on the previous year, the highest increase across all Solar Homes incentives.

The majority of installations occurred in Melbourne’s outer suburbs with Tarneit, Craigieburn, Point Cook, Clyde North and Truganina accessing the most solar rebates. In regional Victoria sunny Midura leads the charge followed by Shepparton, Wangaratta, Traralgon and Wodonga.

Eligible households can access a $1,400 rebate to install solar panels, a further $1,400 interest free loan and a further rebate of up to $1,000 to replace their hot water system – cutting $3,800 from upfront installation costs.

Today, 30% of Victorian homes now have solar installed. That’s more than double the number of homes that had solar when the Solar Homes program began in 2018.

The saving doesn’t stop with Solar Homes, the Victorian Energy Upgrades also delivers discounts on appliances ranging from heat pumps to cooktops. The program has saved Victorians $440 million on energy efficient appliances.