Interest-Free Solar Battery Loan Available to Victorian Households
The Solar Victoria solar battery loan is an interest-free loan of up to $8,800 that can be used to help pay for the upfront cost of installing a solar battery in your home.
4500 loans are available in 2023-2024
The loan is available to eligible Victorian households who meet the following criteria:
* You must be the owner-occupier of an existing property in Victoria.
* Your combined household taxable income must be less than $180,000 per year.
* The property must be valued at less than $3 million.
* The property address must not have previously received a solar battery rebate.
* The property must have a solar panel system with an inverter capacity equal to or greater than 5kW, or will have one installed in conjunction with the solar battery installation.
* The energy storage solution must have a capacity equal to or greater than 6kWh and be listed on Solar Victoria's battery product list.
* The property must not have an existing energy storage system.
* You must obtain pre-approval from your Distributed Network Service Provider (DNSP) to safely connect a battery to the grid.
* You must agree to receive information from your DNSP about taking part in battery trials to maximise the value households get from them.
To be eligible for a solar battery loan, you must have your solar battery installation completed by a solar retailer that is uthorised by Solar Victoria.
These retailers meet Solar Victoria's requirements to participate in the Solar Homes program and are bound by its terms and conditions. They also employ A-Grade electricians who are accredited by the Clean Energy Council (CEC) and hold a Battery Endorsement.
Batteries can store the energy from solar panels during the day and use it in the evening, which can help to reduce energy bills. The average home with solar panels only uses about 28% of the energy it generates. However, with the addition of a battery, this number can increase to around 60%.
There are 4,500 loans available in 2023-24. To apply for the loan, you must first complete an initial eligibility application. If you are eligible, you will then be able to complete a loan application and arrange for the installation of your solar battery. Repayments for the loan are made over a four-year period.
The Solar Victoria solar battery loan is a great way to save money on your energy bills and reduce your reliance on the grid!
At Noark Australia, we are passionate about helping our customers reduce their energy consumption and emissions. If you are interested in learning more about our products and services, please visit our website or follow us on social media. We would be happy to answer any questions you have and help you find the right solution for your needs.