With the Victorian State elections only days away (24th November 2018), the Labor government has promised major rebates on solar battery storage systems, if they are returned to power.
As you are most probably already aware, the Labor government has already introduced the ‘Solar Homes Package’, allowing eligible households to claim a 50% rebate on the cost of a new solar system installed after August 19th, 2018. Add this to the promised 50% rebate on solar battery systems and Victorians are in a good position to take advantage of clean energy.
Electricity gets even cheaper!
A re-elected Andrews government will provide $40 million to pay up to $5000 towards the cost of a solar battery system for 10,000 households, increasing the incentives for Victorians to take advantage of even cheaper electricity. The actual subsidy will depend on the size of the battery system and is a game changer for Victorian households.
Energy minister Lily D’Ambrosio stated that these rebates are about “modernising our electricity grid to help us transition to a more affordable, reliable and clean energy system”.
The battery system rebates will be available in suburbs where there are currently many homes with solar panels, creating micro grids where communities can share their stored power, lowering electricity prices even further and reducing the drain on the grid during peak times.
These new rebates come on the heels of the ‘Solar Homes Package’, mentioned above, a $1.3 billion pledge in August to provide 50% rebates for 4kW rooftop solar systems in 650,000 Victorian homes over the next 10 years. For those homes that are not suitable for rooftop solar panels, the government will provide $1000 towards the installation of solar hot water systems instead.
Expanding our clean energy resources
The Andrew government has further sweetened the pot by revealing that they have signed contracts with six solar and wind farms to provide 928 Megawatts of clean energy to 640,000 Victorian homes by 2020. Whilst these contracts guarantee a minimum price to these six companies, the government guarantees that if the price goes down they will pay the difference; if it goes up, then the companies themselves will pay the difference.
Andrews was quoted as saying that, ”a greater supply of renewable energy means lower power prices and more jobs for Victorian energy projects”.
The latest pledge of solar battery rebates will no doubt play heavily in the upcoming elections, as Victorian homeowners (who already benefit from cheaper electricity via rooftop solar panels), anticipate further reductions with 50% off new battery systems. In fact, the government estimates that these battery systems will save homeowners a further $650 a year on their energy costs, on top of their current savings from rooftop solar.
Whilst the Andrew government’s strong focus on renewable energy is partly due a strong threat by Greens in the inner city marginal suburbs, if they return to power, there is no doubt that Victorian households will be the clear winners as far as electricity is concerned.
If you want to explore installing rooftop solar in your home, call Cola Solar on 1300 374 357 or send us an email.