Talk to us for a simpler explanation of the different rebates.
At B.Solar, we help Australians to easily switch to solar power through the Federal and State Government incentives which are now available to all eligible homeowners that choose to install solar panels, home batteries and other renewable energy solutions. The Victorian Solar Homes Package, Small-Scale Renewable Energy Scheme and Energy Retailer Feed-in-Tariffs (FITs) are outlined below.
1. Victorian Solar Homes Package.
State Government Rebate.
In August 2018, the Victorian State Government announced a brand new scheme where they will help Victorian households cut their electricity bills through the Solar Homes Package. Eligible homeowners can claim a rebate of up to $2,225 on the cost of a solar solution. This is generally a 50% rebate on the price of an average 4kW solar solution costing $4,450.
To qualify for this rebate, homeowners must be able to answer ‘Yes’ to the following:
- Do you have a combined household taxable income of less than $180,000 per annum? (based on the 2016/17 or 2017/18 tax assessment notices for the home owners or alternative proof of income for the 2016-17 or 2017-18 financial year. For example, proof of pension received)
- Are you the owner-occupier of the property? (as listed on the Council Rates Notice from the last 12 months)
- Is the property valued at under $3 million? (based on the Capital Improved Value listed on the Council Rates Notice from the last 12 months)
- I don’t have solar PV on my property OR I am replacing my solar PV system that was installed before 1 November 2009*.
Learn more: The Victorian Solar Homes Package
2. Small-Scale Renewable Energy Scheme. Federal Government Incentive.
The Small-Scale Renewable Energy Scheme creates a financial incentive for individuals and small businesses to install eligible small-scale renewable energy systems such as solar panel solutions. It does this through the creation of small-scale technology certificates (STCs), which are provided upfront for the system’s expected power generation from the installation year until 2030 when the scheme ends.
Generally, the STC incentive is paid as an upfront discount on the price of the solar solution and is calculated based on the amount of electricity a system produces, the date of installation and location.
3. Energy Retailer.
A Feed-In-Tariff (FIT) is a payment that you receive via your electricity retailer as a credit on your bill for the excess electricity that your solar system produces and is fed back to the grid. The FIT is a rate that is set per kilowatt hour (kWh), and the rates vary depending on your retailer.
The FIT helps households ensure that any excess solar energy is not going to waste and credits mean a reduction on your electricity bills.
Talk to your energy retailer about your Feed-In Tariffs.
4. South Australia’s Home Battery Scheme
Available to 40,000 households, South Australian’s can now access $100 million in State Government subsidies to help pay for the installation of home battery systems.
With an additional $100 million provided by the Clean Energy Finance Corporation, finance is also available through RateSetter to help households pay for the balance of the subsidised battery and new or additional solar if required.
The subsidy is available to all South Australians, and calculated on the kilowatt hour capacity of the battery purchased. Furthermore, Energy Concession Holders are eligible for a higher subsidy, ensuring low-income households are supported to access the Scheme.
Home Battery Scheme subsidy levels:
- Energy concession holder $600.00 per kilowatt hour (kWh)
- All other households $500.00 per kilowatt hour (kWh)
For example, a battery with 5kWh of storage could receive a $2500 subsidy, or $3000 for energy concession holders. While the subsidy will vary depending on the size of the battery, it is capped for everyone at a maximum of $6,000 per battery installed.
Learn more: Home Battery Scheme (SA) (Government)