Building a new home? Did you know that you can now apply for a solar panels rebate and interest-free loan whilst your home is under construction?
And did you also know that, when combined, the rebate and the loan could cut the upfront cost of your solar panels system by up to $2,800?
On this post:
- What’s changed and why?
- How much is the Victorian solar panels rebate worth?
- How much is the interest-free loan worth?
- What are the benefits of installing solar panels while my home is being built?
- Am I eligible?
- Who is paid the rebate?
- How long do I have to get the solar panels installed?
- Are there any drawbacks to applying for the rebate during construction?
- Can I apply for any other solar rebates while my home is being built?
- What other solar rebates could I apply for once my house is built?
1. What’s changed and why?
In a much-anticipated move, the Victorian Government’s Solar Homes Program has extended the eligibility criteria for the solar panels rebate to include new homes under construction.
This rebate is matched with a dollar-for-dollar interest-free loan from the Victorian Government to further reduce the upfront cost of going solar.
With around 40,000 new homes built each year in Victoria, this is a massive change to the Solar Homes Program and one that is designed to help even more Victorians benefit from solar power.
2. How much is the Victorian solar panels rebate worth?
The solar panels (PV) rebate is worth up $1,400. This rebate is now available to homeowners with a property under construction via the Victorian Government’s Solar Homes Program.
3. How much is the interest-free loan worth?
The interest-free loan is also worth up to $1,400. You can apply for it at the same time as the solar panels rebate while your home is being built.
4. What are the benefits of installing solar panels while my home is being built?
There are two main benefits:
- Save money on installation costs as wiring and cabling can be carried out more cost-effectively.
- Start saving money on electricity from the first day you move into your new home.
5. Am I eligible?
Homeowners with a new house under construction will be eligible if:
- They can supply proof of ownership such as a Certificate of Title (available from Landata) or a Council Rates Notice. Other documents proving ownership may be acceptable where the Certificate of Title of Council Rates Notice are not available.
- They have a combined household taxable annual income of less than $180,000.
- The home under construction will be valued at less than $3 million at time of completion.
- The owners have not already received a solar battery or solar panels rebate from the Solar Homes Program (for the existing property or any other property they have lived in as owner-occupiers).
Note: eligibility criteria can change so it’s always best to talk to us or contact Solar Homes.
6. Who is paid the rebate?
The rebate is paid to the homeowner’s chosen Solar Retailer (e.g., Specialized Solar & Electrical) who deducts the rebate value from the customer’s purchase price.
The interest-free loan works the same way – i.e., the value of the loan is deducted from the customer’s purchase price.
Together, the rebate and interest-free loan can reduce the upfront cost of a solar panels system by up to $2,800.
7. How long do I have to get the solar panels installed?
You have 270 days from the date of your application to get your solar panels installed on your home whilst it is under construction. This timeframe has been extended specifically for new build homes.
8. Are there any drawbacks to applying for the solar panels rebate during construction?
The main drawback is that you won’t be able to apply for a solar battery rebate. You can only get the solar panels rebate OR the battery rebate – you can’t have both.
Because the solar battery rebate is worth around twice as much as the solar panels rebate, it makes sense to apply for the battery rebate – not the solar panels rebate – if you plan to install battery storage.
The other catch is that you cannot apply for the battery rebate while your home is being built.
You can only apply for the battery rebate once your house is finished, and you’ve moved in.
So… if you plan to install a solar battery as well as solar panels, it is best to wait until you’ve moved in and then apply for the battery rebate when you’re buying your solar panels and battery system.
9. Can I apply for any other solar rebates while my home is being built?
No, you can only apply for a solar panels rebate whilst your home is under construction.
10. What other solar rebates could I apply for once my house is built?
If you get the solar panels rebate, you can apply for a rebate for a hot water heat pump once you’ve moved in. The solar hot water rebate is worth up to $1,000. With a good quality heat pump connected to your solar panels system you could save hundreds of dollars a year in hot water heating.
Get a quote today!
If you’d like a quote for a solar panels system, battery storage or a heat pump, get in touch. We supply and install a range of quality solar systems to meet all budgets.
Our quotes include not just the costs but also the electricity bill savings you can expect to achieve with the system of your choice. Plus, we can help with rebates, including the application process.
We’re all about making solar simple and affordable. Talk to us today!
