Solar energy is receiving heavy support from many states in Australia and the Clean Energy Council due to its excellent energy-efficiency results. Since solar is more energy-efficient than fossil fuels, it is predicted to push them out of the world’s energy supply by 2050.
Because of its sustainable properties, Victoria includes solar energy as a part of its ongoing commitment to renewable energy. This blog will focus on the multiple incentives Victoria has related to solar systems.
Read on to find everything you need to know about Victoria’s Solar Incentives.
What Is the Landscape of Solar Technology in Victoria?
Before going into detail about Victoria’s solar incentives, we need to go into the landscape of solar technology in the state.
Victoria has a very ambitious renewable energy target. Renewable energy use hit 25% in 2020, but the aim is to hit 40% by 2025 and 50% by 2030. Because of this, the government is investing large amounts of money into projects like solar technology.
Why Does Victoria Promote Solar Panels for Homes and Businesses?
One question you may have is, why solar energy? Why is that the option that Victoria is pushing?
The primary reason is that it’s excellent for the environment. For example, fossil fuels dramatically increase greenhouse gas emissions; solar panels decrease greenhouse gas emissions because they don’t make electricity from burning them. Instead, they use direct sunlight.
Image source: climatesolutioncenter.com
Additionally, Victoria promotes solar energy because the state enjoys excellent sunlight and has plenty of solar resources, including solar systems, solar batteries, and more.
What Solar Incentives Are Available in Victoria?
There are multiple incentives related to solar energy to help those in different living situations.
There is also a program to incentivise businesses to invest in solar panels.
What Is the Solar Homes Program?
The Solar Homes Program aims to make it as easy and accessible as possible for residents to purchase and install a solar system.
It’s designed to help households from different backgrounds install solar systems, no matter their socioeconomic situation.
What Incentives Are Available under the Solar Homes Program?
There are multiple incentives under the Solar Homes Program. Some of these incentives include:
- The Solar Panel PV Rebate: this is the main incentive. The Solar Panel PV Rebate involves payment of up to $1400 to applicants. Applicants for the Solar PV Rebate must be homeowners of an existing property or one under construction.
- The solar battery rebate: a loan on solar batteries so homeowners can store excess electricity and use it instead of the grid’s supply. There are multiple eligibility criteria available to view on the Solar Victoria portal.
- Solar hot water systems rebate: this gives homeowners a loan of up to $1000 to go towards hot water and heater systems that are compatible with solar technology.
- Rental solar rebate: similar to the Solar Panel PV Rebate but for rental homes.
- Community home solar rebate: similar to the Solar Panel PV Rebate but for community homes.
There’s also the premium feed-in tariff, an incentive outside the Solar Homes Program that allows homeowners to sell their excess electricity to electricity retailers.
Remember that all these incentives have eligibility criteria, like combined household taxable income. Check if you’re eligible before making the decision to install solar panels.
How Do Victoria’s Solar Initiatives Benefit the Environment?
When homeowners install solar panels with an authorised solar retailer, they have several benefits for both the environment and their economic situation.
Here are some of the primary impacts of Victoria’s solar incentives.
Do Solar Initiatives in Victoria Have Positive Environmental Impacts?
We mentioned above that solar panels can reduce the burning of fossil fuels, but they also have other positive impacts on the environment:
- They don’t need any water to power them, so they conserve water resources. Instead of water, solar panels absorb sunlight to generate electricity.
- Because solar panels produce no greenhouse gases, using them across Australia in enough households can help mitigate climate change.
Do Solar Initiatives Provide Benefits for Victoria’s Economy?
As well as benefitting the environment, solar panels also provide benefits for Victoria’s economy.
The main economic benefit is that solar panel technology can create new jobs in the renewable energy industry. New jobs can include factory workers, jobs for those installing solar panels, project management jobs, and more. The Australian Bureau of Statistics found that there was a 27% increase in jobs in the renewable energy sector from 2017/18 to 2018/19.
Can Victorian Residents Benefit Financially from Solar Initiatives?
If you have a solar system installed in your home, you can benefit financially, mainly because the panels can save you money on energy and electricity bills. For example, a feed-in tariff can offer you a rebate on power bills if you send unused electricity back to the grid.
You can also save money with solar batteries because they can store excess electricity so that you can rely on it instead of on the grid.
You also get money from the interest-free loan as a part of the Solar Panel PV Rebate.
What Are the Future Challenges for Solar Power in Victoria?
Although solar power is more popular now than ever, it will face challenges in the coming years.
Will Victoria’s Solar Incentives Face Future Challenges?
The main change is that solar rebates will end by 2030.
It is unlikely that the scheme will face significant changes in the meantime, but if there are any new government policies, there might be changes like more or less money as a part of the rebate (check the Solar Victoria site to stay up-to-date).
Does the Solar System Industry Need Continued Support in Victoria?
Although the goal of 50% renewable energy by 2030 is within reach, the government will need to offer continued support to make solar energy sustainable after that period.
Will Solar Panel Technology Develop in Victoria?
Along with support, solar technology needs future innovation to stay effective.
For example, solar windows are currently in development, and they would allow you to absorb sunlight through the windows; the main selling point is that you can attach them to your current window without the need to install new ones.
Some other innovations include:
- Solar paint
- Space-based solar technology
- Solar balloons
- And much more
Final Thoughts on Solar Incentives Victoria
In summary, solar incentives in Victoria are an excellent step toward sustainability, so it is worth looking at Vic solar rebate options like the Solar Panel PV Rebate and the home solar battery rebate.
These have multiple excellent environmental benefits, like reducing greenhouse gas emissions, but they can also provide homeowners with financial benefits like reduced energy bills.
Before committing to a solar power rebate in Victoria, check your eligibility.
By joining these initiatives, you are helping to make renewable energy the future in Victoria.
If you want to learn more about solar rebates in Victoria, you can contact us or visit the Ecosaver site.
