Energy efficiency is important to the Victorian government. As such, they offer a wide range of rebate schemes for businesses in the region, including a comprehensive list of solar rebates for businesses that install or upgrade their technology and increase solar power usage.
These schemes help you to save money and become more efficient as a business while reducing your carbon footprint and doing your part for the environment.
Solar Rebates Victoria
Find out more about the incentives the Victorian government offers businesses when they install a solar system below.
Solar Panel (PV) Rebate
The Solar Panel (PV) Rebate scheme is available to homeowners, homes under construction, and rental properties. It offers a rebate of up to $1400 for installing a solar panel (PV) system. Applicants may also apply for an interest-free loan to reduce the costs of having the solar system installed. This loan must be repaid over the course of four years.
Applicants must contact one of the authorised solar providers associated with the scheme to get a quote for their solar panel (PV) system. Products must be on the accredited list for applicants to be entitled to the rebate.
Applicants must meet the following criteria to qualify for this Solar Panel (PV) Rebate amount.
- Be the owner or occupier of a property
- Have a combined household taxable income of less than $210,000 per year
- Have not (as owner-occupier or property address) already received a solar panel rebate or solar battery rebate under the Solar Homes Program
- The property is valued at under $3 million
Solar Panel Rebates for Community Housing
As with the solar panel (PV) rebate scheme for residential housing and rental properties listed above, there is also a rebate scheme for solar panel installation on community housing projects. If you are a not-for-profit community housing provider in Victoria, you can apply for solar panel rebates on your renter’s behalf.
The rebate amount is $1400 per tenancy, which should contribute to the costs of having solar panels installed on your existing property. The idea behind the solar panel (PV) rebate for community housing projects is to lower living costs for low-income Victorians.
To be eligible, you must be a not-for-profit organisation providing affordable housing to low-income renters. You can prove this in a few ways, including having a listing on the Registrar of Housing as a community house provider or by being registered with the Australian Charities and Not for Profits Commission (ACNC).
You also must be able to demonstrate that the provision of affordable housing is one of the main activities of your organisation.
The properties you are applying for must be managed by the organisation, and you must be able to demonstrate that the full value of energy savings achieved upon solar panel installation will be passed onto renters.
Lastly, as with the Solar Homes program above, you must use approved retailers, products, and professionals to install solar panels to be eligible for the rebate amount.
Commercial Solar Rebate Victoria 2023
This scheme allows Victoria’s businesses to install solar systems with a number of incentives. The rebate can cover up to 50% of the entire installation, depending on your business location and the size of your installed system.
The program takes advantage of Small-Scale Technology Certificates or STCs. These certificates form part of the Australian Renewable Energy Target and are used to help the country increase renewable usage and decrease greenhouse gas emissions. Retailers purchase these certificates created after the installation of renewable energy systems at Victoria businesses.
A range of factors contributes to the number of certificates created with each installation, including the system’s location, the date it was installed, and the amount of energy the system can generate. Once certificates have been created, they are then traded to cover the cost of the system.
Every STC amounts to 1MWh of solar energy, and electricity retailers must purchase a specific amount of the certificates each year. This means that the price of an STC can vary with market demand for renewable energy. The typical price of an STC over the first three months of 2023 was roughly $37.
The solar rebate scheme is a good option for smaller businesses in Victoria looking to install solar panels on an existing property. Unlike the solar homes program, this scheme is specifically dedicated to companies in Victoria.
It is important to note that the scheme must accredit the solar panel (PV) that you install and must be installed by an accredited professional too.
Building Finance for Environmental Upgrades
The Building Finance scheme is not solely for solar panels but can be used as a solar (PV) rebate. It is designed to support businesses in Victoria that are investing in energy efficiency upgrades, including renewables, water, and waste efficiency improvements.
Benefits of the scheme include:
- No upfront capital or additional security requirements
- Low annual repayments, which are offset by energy cost savings
- Options to share the costs
- Savings in energy
- Reduction of energy usage
- Lowered greenhouse gas emissions
- Better working environments
Essentially, the building owner would borrow money from a financier and make repayments through the local council rates system. These repayments are named the Environmental Upgrade Charge (EUC). Like with the Solar Victoria and Solar Homes programs, solar panels are included in the scheme as they fall under renewable energy regeneration projects.
This solar (PV) rebate-style scheme is perfect for businesses that own a building and are looking for longer-term financing with lower repayment costs or businesses with a long-term tenancy agreement for their site.
Note: You must be located within the bounds of a participating council to be eligible for this scheme.
Benefits of Solar Panels for Your Business
The Solar Victoria schemes offer a range of options for businesses and homes alike, including a solar battery rebate scheme, solar panels, and more. But what benefits do solar panels offer your business in the long run? Below, some of the benefits of solar system installation are explored.
- Reduced energy costs: If you’re looking to save on your electricity bills, renewable energy can help you combat rising electricity costs.
- Higher ROI: Renewable energy technology has a much higher ROI, with solar panels offering about 15% with a 4-5 year payback.
- Rebates, interest-free loan schemes, and more: In Australia, everyone is looking to shift towards a more sustainable future, which means there are many government incentives to help you get started.
- Environmental impacts: Switching to solar power is an excellent way to impact the planet positively. You use less energy and reduce your business’s carbon footprint. You may even attract a new clientele looking for environmentally conscious companies.
Conclusion: Solar Victoria Programs
With Solar Victoria and other schemes in place, investing in solar energy is an easy way for your business to reduce energy spending and positively impact the planet. These schemes often have criteria that need to be met for eligibility, including caps on combined household taxable income, location, and suppliers. Ensure you meet all requirements before investing so you can claim the rebate.
If you’re considering installing solar panels at your business and want more guidance on the benefits, which rebates you’re entitled to, and how it can help you improve your carbon footprint, don’t hesitate to contact Ecosaver. Our experts can guide you on the best renewables for your business model.
