Solar savings on the way for apartment residents

Thousands of solar panels will soon roll out across Victorian apartment buildings – slashing power bills by around $500 a year thanks to the Government’s Solar for Apartments.

Published:
Monday, 12 February 2024 at 10:51 pm

Applications are now open for the first round of the $16 million program - which will make it cheaper and easier for apartment residents to install rooftop solar.

Around 12 per cent of Victoria's 2.5 million households live in apartments, with around 63 per cent of these occupied by renters.

Successful applicants will receive rebates of up to $2,800 per apartment, or up to $140,000 per building for up to 50 apartments to install solar panels on their rooftop.

Solar for Apartments will help around 5,000 households including owners and renters to save money on the upfront cost of installing solar, cut their energy bills, improve the value of the apartments and reduce emissions.

The take up of solar on apartments has been much lower due to the complexity and costs, and Solar for Apartments will help fix this by reducing upfront costs and streamlining the installation process.

Rebates will be available to apartment buildings up to eight storeys with between 5 to 50 apartments – ensuring the solar installation can provide meaningful energy bill savings for residents.

Owners corporations will have the choice to install either multiple individual solar PV systems, a single large solar PV system coupled with solar sharing technology, or a combination of both.

There have already been over 500 registrations of interest, including owners corporations, apartment residents including owner-occupiers and renters, and rental providers – showing the huge demand for accessible solar.

The program has been developed in consultation with industry, local government and strata community representatives. Round 1 applications are open until April 15. For more information visit solar.vic.gov.au.

This program forms part of the Commonwealth Government's Community Solar Banks initiative - unlocking access to shared solar for 25,000 homes across Australia who have found it difficult to access solar in the past.

Quotes attributable to Victorian Minister for Energy and Resources Lily D’Ambrosio

“This is all about making it easier for Victorians that live in apartments to install solar - so they can slash their power bills by $500 and help us cut emissions.”

“We have worked with organisations across local government, property and technology sectors and apartment residents to deliver a program that meets the renewable energy needs of apartment households.”

Quotes attributable to Commonwealth Minister for Energy Chris Bowen

“We want to make it cheaper and easier for apartment residents to install solar on their rooftop so they too can take advantage of cleaner, cheaper solar to provide cost-of-living relief.”

“In the past it’s been difficult for apartment residents to reap the benefits of cleaner, cheaper solar- this program will help overcome those barriers and power more Australian homes with renewables.”

Quote attributable to Member for Northern Metropolitan Sheena Watts

“More Victorians are choosing to live in apartments and programs like this will mean they can reap the benefits of renewables, saving them money on their bills and helping to tackle climate change at the same time.”

Updated