The Victorian government has slashed over a billion dollars off the upfront cost of installing solar, heat pumps and batteries – helping more Victorians cut their cost of living by slashing energy bills.
Minister for Energy and Resources, Lily D'Ambrosio, visited a Solar Homes customer in Point Cook – which has the second highest uptake of rebates and interest-free loans in the state.
Families can get a $1,400 rebate plus $1,400 interest free loan off the cost of installing solar or if you’re in an apartment or town house there is a rebate of up to $2,800 per household or up to $140,000 per property.
To get a heat pump hot water system families can slash up to $1,400 off the cost of installation, that’s around 50 percent of the cost of the purchase.
Installing a heat pump hot water system alone can save a household up to $330 a year on electricity bills and up to $1,000 when combined with rooftop solar.
Since 2018, the Solar Homes program has installed more than 2.3 gigawatts of solar capacity, this is more than coal fired power station Loy Yang A which generates 2.2 gigawatts.
“To date, the program has put $750 million of rebates back in the pockets of Victorians and approved more than $365 million interest-free loans, helping householders cut the upfront cost of installing solar and batteries,” D’Ambrosio said.
The program has installed more than 324,000 solar panel systems on Victorian homes, with a record 76,530 systems and 9,256 heat pumps installed last financial year.
The program has also delivered $5.7 million in rebates for over 110 apartment buildings to install solar, with around 50 per cent of these being occupied by renters who will now enjoy the benefits of cheaper energy bills.