Cutting Power Bills with Solar Panels for 650,000 Homes
A re-elected Andrews Labor Government will help Victorians save around $890 a year on their power bills with half price solar panels at no up-front cost.
Victorians will be able to install a solar panel system for half price and pay the rest of the cost back over four years with an interest-free loan. This will save the typical Victorian household up to $2,225 for installation of an average 4kW solar system.
A new independent agency, Solar Victoria, will be established to work with industry, regulators and training organisations to deliver the program, which will create almost 5,500 new jobs.
The 50 per cent rebate on solar panel systems will be available to Victorians with a household income of up to $180,000 who live in their own home valued at up to $3 million – this means almost nine out of 10 Victorians who own their own house are eligible.
Not all homes can have solar panels installed because of issues such as roof design or shade, which is why the Labor Government is providing a $1,000 rebate on solar hot water systems. It means Victorians who can’t install solar panels will still be able to save hundreds of dollars a year on their electricity bills.
Furthermore, a re-elected Andrews Labor Government will provide half price solar batteries for 10,000 Victorian households that already have solar panels to help them save even more on their electricity bills.
Labor’s Solar Homes program will bring the number of homes in Victoria with solar panels to one million within ten years. It will also save Victorians more than $500 million a year on their electricity bills once the program is complete and generate 12.5 per cent of Victoria’s target to generate 40 per cent renewable energy by 2025.
Only Labor will put solar panels, solar hot water or solar batteries on 720,000 homes – saving Victorians thousands of dollars on their electricity bills with renewable energy.
This is about modernising our electricity grid to help us transition to a more affordable, reliable and clean energy system.
For more information visit www.solar.vic.gov.au.