Solar Incentives for Victoria

Victoria has its own state program, the second round of its Solar Program started July 1, 2019. It is defined as a subsidy, rather than a ‘rebate.’ This is a state level scheme, the value of this incentive is ‘up to’ a value of $2,225 or 50% of the price of the system you are getting installed. This is roughly currently half the value of a 4kW panel system.

A number of criteria must be met, this includes

  • Your home must be valued at under $3 million AUD
  • You must have a combined household income of under $180,000
  • No Existing Solar PV System
  • Contact Tesla Electrical and Solar today to gain more information about what this incentive means for you.

Couple look at bills rebate financial incentive

Can I also Gain the Federal Rebate?

Yes – the federal rebate is as follows.

Small-Scale Technology Certificates (STC’s) and Feed-in Tariffs (FiTs.) These Incentives are designed to helped save over the life of your Solar System. Now the differences and eligibility can vary.

Small-Scale Technology Certificates (STC’s)

Any renewable energy, including Solar, Wind, Hydro or other, the federal government provides STC’s relative to the energy output over the life of the generator. These certificates are generally sold for $28 each, serving as a form of rebate. This system rewards sunnier areas, with larger systems. The spot price for STC’s can be found here. STC’s will be sold once they are validated through the REC Registry and can be sold on the open market or the STC clearing house. While this can get complicated, a registered agent can organise the sale on your behalf.

How are STC’s calculated?

  • Total size of your system
  • Number of years remaining until the rebate scheme ends
  • The rating of the Solar zone you plan to install the system in (See diagram)

Looking for an estimate? Use this tool.

By far the most common question we get, the federal scheme is dropping by one fifteenth every year from Jan 2017 until it drops to zero in 2031. The value of this rebate can however change, as the price of STC’s varies.

Feed in Tariffs

Your electricity retailer will pay you with a small deduction on your bill for each (kWh) of electricity you provide back. This will be in the range of 10 cents per kW hour. Ask your energy company to find our what your rate could be or compare the rates using tools like this.

How much can incentives save you?

The amount that an incentive can save depends on the time of install, the price of STC’s, the system and many other variables. At the moment, the value of an STC is $39. But situations can arise where the value is pushed down. To check your post code, to understand how the incentive could impact you, or whether now is a good time to invest, contact Tesla Electrical & Solar directly for a free quote.

Enquire with us today

Enquire with Tesla Electrical & Solar to find out how much Solar Power can save you.