Are Solar Rebates in Victoria Worth It [2024 Update]

Solar Rebates & Incentives in Victoria

State and federal governments provide solar subsidies as financial aid to households that install solar energy systems. These programmes minimise the cost of installing solar panels by providing economic incentives, typically through grants or credits.

The government's Solar Homes programme offers solar incentives and rebates in Victoria. This includes a $2,225 reimbursement for the initial installation cost of solar panels for solar systems installed after July 1, 2019. Applying as soon as possible with a 5,000 system yearly cap on the rebate every fiscal year makes sense to guarantee your spot. 

A. Small-Scale Technology Certificates (STCs)

When a renewable energy system, like a solar photovoltaic system, is installed, STCs are generated.

The system's size and the quantity of energy produced determine how many STCs are needed. One STC is made for each megawatt-hour of the system's output capacity. This is then multiplied by the anticipated time the system will produce electricity. For solar systems, this was 15 years (the solar panels have a far longer lifespan than that).

Great incentives are presently available for every one of the solar systems. The rebate increases with the size of your system.

(Data Source: Clean Energy Regulator)

For homeowners, the STC programme is a fantastic way to lower their initial solar costs. The programme is not endless, though, and systems will be able to generate fewer STCs with time, concluding in 2030.

This implies that you may generate more STCs and save more money if you build a small-scale renewable energy system as soon as possible. According to a recent update to the Clean Energy Regulator's STC prediction for 2020-2024, STC development will decline by 7% in 2024 and an additional 7% in 2025.

Eligibility Requirements for STCs:

Victorian homes that fit the following requirements can get a refund for installing solar photovoltaic systems:

• You are the owner-occupier of a property that already exists or the owner of a house that is being built where the system will be installed.The annual total taxable income of all owners' households is less than $210,000.
• The property is under $3 millionin value, or it is a home being built and will be valued under $3 million when finished.
• The property's address has never received a solar panel rebate under the Solar Homes Programme.
• No solar panel (PV) system has been installed on the property in the last ten years.

B. Feed-in Tariff in Victoria

Victoria has a minimum solar feed-in tariff. An electricity provider with over 5,000 consumers must provide the minimum. However, it can - and some do - offer more. Two varieties are offered: single and time-varying solar feed-in tariffs. Retailers may decide to carry one or the other.

Flat/Single Rate

This is the most prevalent kind of power that may be exported at any time of day. The ESC released its final ruling on the minimum feed-in tariff rates for the 2023-24 fiscal year on February 27, 2023. 

In 2023–2024, the minimum single rate will be 4.9 cents per kilowatt-hour. The single rate minimum for the 2024–2025 fiscal year is set at 3.3 cents per kilowatt-hour. The drop is due to the expectation of reduced daytime wholesale power costs.

Time-Dependent Rates

Victorian power suppliers may also offer a "time-varying" payment option. This option allows customers to pay various prices depending on the time of day solar energy is exported. 

The *minimum* time-varying rates for the fiscal years 2023-2024 and 2024-2025 are shown in the following table:

(Data Source: Essential Services Commission)

It is crucial to realise that power provider plans with more significant feed-in tariffs will sometimes lower electricity bills if their other fees exceed your current plans. Comparing prices is vital, and using comparison tools to look at options is terrific.

Although shops may provide varying packages and terms and conditions, it is essential to review the fine print as the minimum VIC FiT may be required.

Victoria was the first state to incorporate some of rooftop solar's advantages to the environment and the network into its feed-in tariff.

Eligibility Requirements for Feed-in Tariff:

Suppose you were approved for the Premium Feed-in Tariff Scheme before December 31, 2011. In that case, your system is situated at either your primary house or a non-residential property where you use at most 100 MWh of electricity annually.

C. Battery Booster Program

With the Battery Booster programme return, you might lower your energy expenses and have more control over how much electricity you use.

Installing a battery system may not be financially feasible for some homes. Plan the best battery system for your house by learning more about them and deciding if they're perfect for you.

Regular Refund

Up to $3,000 in reimbursement is available for candidates whose income for the most recent fiscal year ended less than $180,000. The applicant's and their spouse's total income for the most recent fiscal year that concluded must not exceed $180,000 if the applicant is married. 

Low-Income Reimbursement

A reimbursement of up to $4,000 is available for households in whom the highest earner earned $66,667 or less in the most recent fiscal year that ended.

Eligibility Requirements for Battery Booster Program: 

If you fit any of the following requirements, you may be qualified for a solar battery loan as a Victorian homeowner:

• The property where the system is to be installed is owned and occupied by you; it is valued at less than $3 million;
• All owners' combined annual household taxable income is less than $210,000;
• The property is equipped with a solar panel system that already has a minimum 5kWinverter capacity. Alternatively, a solar panel system with a least 5kW inverter capacity will be added if solar batteries are installed; 
• The battery product range of Solar Victoria includes the energy storage solution, and the property does not currently have an energy storage system;
• Your Distributed Network Service Provider (DNSP) must provide you with preapproval before you can securely connect a battery to the grid.

To optimise the value that homes gain from their batteries, the owner or owners consent to receive information about participating in battery trials from their Distribution Network Service Provider. It is important to note that only some families or circumstances will benefit from battery storage.

As such, the first step in determining whether a battery is correct is performing. Homes still under construction are not eligible for the solar battery incentive.

When you are sure that a battery is the best investment for your house, you should start your research immediately and contact an approved vendor.

D. Electric Vehicle Rebates

A Victorian government subsidy made new electric car purchases possible. Qualified EV purchasers may be eligible for a reimbursement against the purchase price up to a specific amount.

Eligibility Requirements for EVRs:

When buying an EV, Victorian citizens and companies will be qualified for:

• Annual registration fee savings of $100;
• Stamp duty exemption from the "luxury vehicle" rate; a flat price of $8.40per $200 of market value is required.

E. Solar Panel Rebate in Victoria

This project is aimed at Victorians who still need to build a rooftop solar system. Eligible participants can save up to $1400 on their solar panel system installation. Both homeowners and rental properties are eligible for this refund. To take advantage of this promotion, your preferred solar installation must be listed as an authorised supplier, and all panels and the entire system must be on the approved product list.

In addition to the $1400 rebate, Victorians are eligible for an interest-free loan from the state government. Those who meet the requirements are awarded a loan for the refund amount, subject to state government requirements. Borrowers can repay the loan in instalments or with a single large payment; the maximum repayment duration is four years.

How to Apply for The Solar Rebates Victoria? 

Generally, government rebates are already included in the price of the solar power system you get from the installer. The rebate will be automatically deducted from the total solar cost. You can do a little on your own to get the reward.

Applying for a solar rebate in Victoria is simple if you follow the appropriate steps.

Step 1: Educate Yourself

Ensure you know the procedure and requirements before signing a contract for solar panel installation. After doing your homework and locating the licenced solar shop of your choice, contact them to get a price.

If you are applying as a property owner and your home is still under construction, discuss your desire for solar energy with your builder as soon as possible. Talk about the process and the point in construction where an approved solar merchant may install a system.

Step 2: Get A Written Quote

You must receive a written quote from your licenced solar reseller that includes all the details required to make an educated choice. Additionally, they will post your quotation to the Solar Victoria Portal, or "the Portal," so you may begin the online qualifying procedure. The Portal will email you to let you know your quotation has been posted.

Step 3: Request DNSP

Even if it's unnecessary for the solar panel (PV) refund, it's a good idea to ensure that your installation has Distribution Network Service Provider (DNSP) preapproval if customers are interested in joining and exporting to the grid.

When retailers post a quote and finish the Provider Statement on the Portal, they consent to obtain clearance from the DNSP.

The companies that determine whether your solar panels or batteries may be linked to the grid are known as DNSPs. Read Distributors: What Are They and Why Are They Important to Understand What That Means.

Step 4: Obtain Your QR Code & Eligibility Number

You may obtain your quotation by clicking on the notification email from the Portal to begin the eligibility application process. As soon as you log into the Portal, you may choose the quotation your shop sent us to determine your eligibility.

Solar Victoria will send you a particular eligibility number and QR code when your eligibility has been verified, which your installer must scan to start the installation. The installation must be completed no later than 120 days after the QR code for an existing residence is assigned. This eligibility number and QR code are required for the installation to start.

If you are a property owner applying for a home still under construction, consult your builder and approved solar retailer to determine the ideal time to use so that all installations may occur within the 240-day extended application period for homes under construction.

Required documentation to demonstrate eligibility

When it comes time to apply, ensure you have all the necessary paperwork ready. You will be required to use the Solar Victoria Portal to provide documentation of your identification, income, and property ownership. 

Evidence of ownership of the property

To verify who owns the property, you will have to give us the information of every homeowner.

For us to verify property ownership, you will also need to supply the data of every homeowner for properties that are still under construction.

Evidence of income

For each individual listed as an owner, we need documents proving their income. You can verify if you have to produce evidence of income for each name of a property owner stated in your copy of your Certificate of Title or your local council rates notice. If there are several reported owners, you must provide proof of income paperwork for each stated owner from the same fiscal year.

Step 5: Schedule The Installation

Contact your merchant to schedule the installation and let them know you plan to proceed with their quotation. On the installation day, your installer must scan the QR code from your eligibility confirmation email.

If your house is still under construction and you cannot visit the location in person, you might need to email the QR code to your installer that day.

After installation is finished, settle your debt with the vendor. This sum represents the entire payment, less any appropriate deductions, such as the loan and the rebate. We'll cover the balance.

Step 6: Submit A Rebate Application

To save even more on energy costs, those who have already benefited from a solar PV refund may also apply for a hot water rebate. Customers who obtained a solar PV refund while their home was being built and now have a completed home may not be eligible for hot water rebates offered to replace existing systems.

Jackery Solar Generators Explained

When maximising solar savings, it's essential to consider the rebate and other factors that can increase efficiency and affordability. Beyond the refund, optimising your solar panel system's size and placement can enhance energy production and savings over time.

Jackery is a renowned manufacturer in the solar industry, focusing on producing top-notch solar equipment like solar generators, solar panels, and portable power stations. Jackery Solar Generators offer a reliable and uninterrupted power supply for your household appliances.  

Moreover, integrating energy storage solutions such as the Jackery Solar Generator 2000 Plus or 1000 Plus can complement your solar panel system by storing excess energy generated during the day during peak demand or at night. This ensures an uninterrupted power supply and enables greater self-sufficiency, ultimately enhancing your solar savings and reducing reliance on the grid.

Jackery Solar Generator 2000 Plus

Jackery has unveiled the Solar Generator 2000 Plus, a cutting-edge portable power solution with exceptional performance. Thanks to its substantial capacity and formidable power output, this device can sustain the operation of standard domestic appliances for several weeks and fulfil all the power needs associated with outdoor adventure or professional activity.

The Jackery Solar Generator 2000 Plus allows adding extra battery packs, which boosts the capacity from 2 kWh to a remarkable 12 kWh, thus enhancing the solar charging capabilities significantly. With the ability to be expanded to 3000W, this solar product offers a 30% higher rated power than other 2 kWh solar goods available in the market.

The Explorer 2000 Plus is an industry's pioneering add-on battery pack that can be recharged using solar panels. This feature enhances versatility, improves charging efficiency, and reduces charging time. The LiFePO4 battery, with its sophisticated technology, guarantees a lifespan of 10 years, even with daily usage limited to once per day. Jackery Solar Panels generate more energy over their lifespan due to their exceptional solar conversion efficiency, reaching up to 25%.

Jackery Solar Generator 1000 Plus

The Jackery Solar Generator 1000 Plus is the best portable power supply for home and outdoor life due to its exceptional output (1264Wh). It can aid in home emergencies and other circumstances. It is the all-in-one solar generator for your life due to its versatility and size. 

Supports up to three additional battery packs, bringing the total capacity to 5kWh and providing 1-3 days of home backup power. A solar generator can power your communication devices, medical equipment, and outdoor appliances, bringing comfort and convenience.  

The Jackery Explorer 1000 Plus portable power station, with a 10-year lifespan and a Lithium Iron Phosphate (LiFePO4) battery, provides a consistent voltage and pure sine wave to ensure the safety of all your electrical gadgets.

Additionally, the innovative ChargeShield technology and consistent power delivery avoid equipment damage.

Are Solar Rebates in Victoria Worth It?

An efficiently constructed solar system of high calibre yields returns that often astonish individuals. Thanks to two possible rebates, the price of solar products in Victoria has been significantly reduced, making these high-quality solar systems more accessible.

Consider an illustration of a solar system with a power output of 10 kilowatts. The Small-Scale Renewable Energy Scheme (SRES) implemented by the federal government reduces the purchasing price of the system by more than $3570.

Victorian buyers who meet the requirements can also apply for the Solar Homes rebate provided by the state government. This rebate covers up to 50% of the remaining cost, with a maximum amount of $1400.

Based on average data, a 10kW system can significantly decrease your yearly electricity costs by thousands of dollars, even if you utilise around 70% of the generated solar energy. Depending on your power requirements, significant savings can be achieved by choosing larger or smaller systems.

Rebates can shorten the payback period and increase the return on investment for solar installations by defraying some installation costs. They can also significantly reduce the initial cost of solar system installation, lowering the cost of solar energy for both businesses and individuals.

Aside from financial advantages, having a solar energy system can help to ensure environmental sustainability. Solar systems help minimise greenhouse gas emissions and dependence on fossil fuels, supporting efforts to address climate change.

Final Thoughts

Lastly, Victoria offers a variety of grants and rewards to encourage the construction of solar energy systems. The general goal of these incentives is to increase affordability and accessibility for residential and commercial solar power. 

Nevertheless, programme specifics, financing availability, and eligibility requirements might change, so it's critical for anybody thinking about solar installations to stay up to date on the most recent information.