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[VIC] Up to $8,800 4-Year Interest Free Loan for a Solar Battery @ Solar Victoria

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[VIC] Up to $8,800 4-Year Interest Free Loan for a Solar Battery @ Solar Victoria
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Treepod on 27/07/2023 - 22:28 solar.vic.gov.au (440 clicks)
Last edited 28/07/2023 - 11:23 by 1 other user

Solar Victoria solar battery loans will reduce the upfront cost of installing a solar battery, with repayments made over a four-year period. Credit check through Equifax required.

There are 4,500 interest-free loans of up to $8,800 available in 2023-24.

As a Victorian householder, you could be eligible for a solar battery loan if you meet the following eligibility criteria:
1) You are the owner-occupier of an existing property where the system is to be installed

2) The combined household taxable income of all owners is less than $180,000 per year

3) The property is valued at under $3 million

4) The property address has not previously received a solar battery rebate

5) The property has a solar panel system with an inverter capacity equal to or greater than 5kW, or will have one installed in conjunction with the solar battery installation.

6) The energy storage solution has a capacity equal to or greater than 6kWh and is listed on Solar Victoria’s battery product list and the property does not have an existing energy storage system.

Pre-approval is obtained from your Distributed Network Service Provider (DNSP) to safely connect a battery to the grid the owner/s agrees to receive information from their Distribution Network Service Provider about taking part in battery trials to maximise the value households get from them.

Electrical & Electronics Loan Solar Battery

Related Stores

Solar Victoria: Solar Homes Program
Solar Victoria: Solar Homes Program

closed Comments

  • hurr1cane on 27/07/2023 - 22:34

    Whats total cost for 6kw battery to be installed on existing solar panel?

    • inasero on 27/07/2023 - 22:36
      -5

      It doesn't get installed on a solar panel, it gets installed on a household solar system. Also the cost would depend on the brand and your installer, I imagine

    • harrysab on 27/07/2023 - 22:38
      +2

      $14k, I will wait longer for battery price to drop. You will still need to spend at least $5k to get a battery. I did a quick research and my numbers might not be accurate.

    • Treepod on 27/07/2023 - 22:40

      Probably a tricky one to answer..

      It would depend on the battery, complexity of adding it to your current system, the area you are in, how much the labour will cost and so on.

      Only way you'd really be able to tell us by getting a few quotes.

  • jv on 27/07/2023 - 22:44
    +6

    2) The combined household taxable income of all owners is less than $180,000 per year
    3) The property is valued at under $3 million

    LOL…

    Maybe this is meant to be for South Australia?

    • neezy on 28/07/2023 - 06:36

      inherentence 😅🤷🏾‍♂️

  • tommypickles on 27/07/2023 - 22:49

    Does anyone know a solution for solar panels on apartment blocks?

    I live in an apartment block in Melbourne that has 3-storeys and 15 units total. We have half of the block as owner occupiers including myself. The committee would love to proceed with getting solar panels & batteries on the roof — but we cannot find a way to do so simply, as the installers seem to preference these domestic homes.

    I am uncertain if any of these grants would apply. Frankly it’d be great if they did to help encourage the hold-out owner-renters if there was a longer-term payment plan available.

    Hugely appreciate if anyone can point me in the right direction.

    • Nom on 27/07/2023 - 22:58

      A friend of mine is in a similar situation - he found that they can't really fit enough solar panels to make much of a difference unless the apartment block has an absolutely massive roof.
      If yours has 15 units then you basically need 15 homes worth of roof to get the "normal" benefit…
      I haven't spoken to him in a while but I think they were going to pursue a solar setup to cover the common areas only.

      • tommypickles on 28/07/2023 - 00:29

        Even if it just helped with hot water systems or some level of contribution to our bills, most of us owners would be happy.

        We have a sizeable roof and being three storeys only it’s not so bad to split the surface area.

        I wish the governments and installers had more interest —

    • PhilToinby on 28/07/2023 - 07:30

      Try looking up SolShare by Allume Energy. It's also an Australian designed & engineered product. Not sure if there are rebates, but there is a solution for apartments

  • donkcat on 27/07/2023 - 22:58
    +6

    Doesn't seem as good as the $2950 rebate that this scheme replaced

    • try2bhelpful on 27/07/2023 - 23:18

      I tend to agree.

    • neezy on 28/07/2023 - 06:41

      Vic changed all the solar/ev incentives this financial year, so maybe they behind with the bills, lol.

      Although an instant discount is better thn a interest free loan… it is a lot more. And you'd hope that the reduce power bill would help go towards that repayment.

      The one thing I was hoping, was that this MIGHT be open to ppl who have already received the Solar Panel rebate. I had a quick look at the email, and I think we can 🤞🏾

    • entropysbane on 28/07/2023 - 07:12

      A helping hand rather than a handout.

  • Weshouldgetsushi on 27/07/2023 - 23:45

    C'mon Dan - there should be heaps of money spare now the Commonwealth games have been cancelled in Vic.

    • vash5 on 28/07/2023 - 00:26

      Nah, because like all Labor projects.. his way way way over budget and in the red.

      The dumbass spent stupid amounts during cv.

      Simple solution.. dont vote for the jerk off.

  • USER DC on 28/07/2023 - 00:04

    I Just love how Dan tries to make Vic gov so giving

    when they hike/jack up their eligible partner prices of the products that meet their criteria of rebates. (by almost same if not more than the cost of rebate itself - compared to getting stuff installed from elsewhere privately)

    • EarlyBird on 28/07/2023 - 01:00
      +4

      The feed-in tariff for solar power has been slashed repeatedly despite skyrocketing cost of electricity. It's daylight robbery

  • mooreshady on 28/07/2023 - 07:20

    Any battery that cost $9000 and below?

  • Manny Calavera on 28/07/2023 - 09:45
    +1

    You should probably mention that loan is up to half the value of the battery, and you'll have to pass a credit check.

  • tunzafun001 on 28/07/2023 - 10:26

    Rubbish use of tax payer money for a measly 6kwh (48c worth with OVO). I bought a battery when they were 13kwh for $2.5k, this made sense. Up to $8k of wasted funds for 6kwh…hmmm..

    • ezzaf on 28/07/2023 - 15:50

      "Rubbish use of tax payer money… I bought a battery when they were 13kwh for $2.5k"

      And how much tax payer money went into your 13kWh battery? If you think it's a rubbish use, maybe you shouldn't have taken it.

      • tunzafun001 on 28/07/2023 - 19:42

        Fair…ish..was $6k subsidy for 13kwh. I also thought that was dumb. But we did sell our grid to China..

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