News in Brief
Interest free loans for new solar panel installations in Victoria
There is now even more reason to consider getting solar installed, with the Victorian Government offering interest-free loans for new solar panel installations from 1 July.
About the interest-free loans
Solar power is now even more affordable with the new interest-free loan offer.
Many households missed out on taking advantage of 2018’s incentives when the rebate reached its capped amount earlier than expected. However, the good news is that the Victorian Government has announced a more complete rebate system making solar power more affordable than ever.
They are now offering interest-free loans for up to 50% of the cost of a solar system for home-owners on top of the rebate program which commenced again on July 1st
The announcement means that for many households, there will be no upfront cost for solar installations, and they can start saving on the price of electricity straight away.
Households installing a system costing $4450, and taking up the full rebate of $2225.00, will also eligible to apply for a loan to the value of $2225.00 meaning $0 upfront for their installation. However, the loan is not available to solar hot water or solar batteries.
Don’t miss out on this year’s incentives and get ahead of the herd. Contact Solar Flow now.
Who is eligible
Households that are eligible for the solar panel (PV) rebate will be eligible to apply for the loan. Read more about the eligibility criteria here.
In addition to the eligibility criteria, the system you get installed needs to save you the cost of the loan over the loan payback period, which is something your solar retailer can provide you with an estimate. All our quotes provide you with a payback estimate on Solar PV systems.
Some households with existing solar installations, from before 2009 may also be eligible if they are looking to upgrade their solar system.
Why get solar installed
Today, in Victoria, solar power is a smart move. Having solar power installed allows you to generate your own renewable energy while reducing your home electricity bills and creating a sustainable lifestyle.
How to apply
When applying for your solar rebate, you will be informed automatically of your eligibility for the loan, and you can then work with your solar retailer to apply for both the rebate and loan.
When searching for a retailer, you might see a few ads promoting great prices for solar panels, but beware, some of these advertised prices are deceptive and already include the rebate, keep this in mind especially when it comes to calculating your loan.