The last round of Victoria’s solar rebates for PV in 2019 flew out the door this week – here’s what prospective solar buyers in the state can expect from the subsidy program in 2020.
The Victorian Government’s Solar Homes program has had a hectic year – one that hasn’t been without (quite a few) challenges. Still, Solar Victoria is very upbeat about the progress of the initiative.
“It has been a huge year for the industry and for Solar Victoria,” stated an industry update sent out by the agency on Wednesday. “We couldn’t have done it without you and together we have managed to deliver solar systems to over 56,000 customers, for a total investment of $108.6 million in Victoria’s solar future.”
2020 is shaping up to be another busy year – but there will be some changes.
The next release of solar panel rebates is at 12pm, Thursday January 2, 2020. Unlike the December releases where 2,500 rebates were available in each of the two rounds along with top-up from expired applications, in January there will be two releases of 2,000 each (plus top-up if any).
From February, releases will go back 2,500 rebates each round (still two releases a month) through to the end of the financial year. Beyond June, numbers are yet to be announced..
Also changing in January is the maximum amount of subsidy available. Previously set at $2,225, it will drop to $1,888 until the end of June and then to $1,850 for FY 20/21. But combined with Australia’s major solar subsidy (also reducing from January 1), Victorians will still get a great deal on PV systems.
The no-interest loan on offer will also still be available and will match the rebate amount – up to $1,888.
Victorian Electricity Price Rises
While there will be a reduction in both the maximum Victorian and national rebate, the cost of solar panels is continuing to decrease and there may be added motivation for installing solar power systems in 2020 – higher electricity bills for some Victorians. For example, last week AGL announced an average increase across existing discounted electricity market contracts of 5 percent.
A Good Time For Research
Many installers will soon be downing tools for the holiday break, but the next couple of weeks provide a good opportunity to learn about home solar, the Victorian rebate and national solar subsidy, to check out solar installer reviews and arrange for quotes; ready for installation in early 2020.
Getting a great system at a reasonable price, competently installed and well-supported is one aspect of maximising the benefits of the rebate and harvesting the energy of the sun.
Another is finding the most suitable solar-friendly electricity retailer; bearing in mind the highest feed-in tariff for surplus energy exports doesn’t always mean it’s the best electricity plan overall for a solar household. Here on SQ, you can get some help with this by using our new electricity retailer comparison tool (currently in beta).
Another tool you may find useful in your research is our new solar calculator, which provides a complete picture of the savings and payback for PV anywhere in Australia.