By now, you might have heard that the Victorian Solar Rebate has been cut off, there’s also been an election and there are all sorts of things happening in the sustainable energy space.
Now, the Victorian Government rebate did get cut off on the 12th of April. That’s the extra $2,225 that people were getting in addition to the government STCs.
“But what happened?” I hear you ask…
To keep it simple – They used up the allocated budget for that year.
Each year they’ve allocated 24,000 rebates at $2,225 each.
Why? There’s a variety of reasons, one being budget. This means the budget not only for them also for the solar industry. If they released all of that money into the solar industry in one go, it would encourage poor quality installs and too-fast growth for a lot of businesses. So it’s 24,000 each year to ensure quality over quantity.
When April came around they had over 30,000 applications into the system.
Which is well above the allocated 24,000, now less than 24,000 had been finalised and paid, however, they couldn’t let any more people apply without going well over budget.
So what’s happening in the new financial year?
As of the first of July, they’re going to open up the rebate again. This time around there will be some changes, as they’ve learnt a lot from this first round of rebates.
What’s going to happen?
Because so many people missed out last year and potentially had solar installs around the cut-off, many people are ready to go and you need to be too.
Here are FOUR key changes
- The eligibility for the rebate will stay the same at a household income under $180,000.
- You now have to submit your paperwork before your install. There will be no opportunity to apply in retrospect. However, you need to know who your solar provider is when you go to do the paperwork.
- You’ll get your discount upfront this time around. Which means this time around, you do your rebate first, and then they will pay the money to your installer so you get it as an upfront discount and you never have to cough up that $2,225.
- They are now bringing in an interest-free repayment plan. That is launching on the first of July, 2019. While we don’t have all the details yet, we understand it to mean that if you’re eligible you’ll also be able to get a no interest repayment plan through the government over 4 years. This means you no longer have to risk it with any of these shonky solar finances or quick money now, big charges later. It will be a genuine interest-free repayment plan.
Because you need to know who’s you’d like to install your solar when you do the application, and there is a limited number of rebates available, now is the time to start.
Get a quote and find the right solutions for you, so you can get your rebate first before they run out.
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