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Last updated 31st October 2024

Battery Loans for Victoria

Since July 2023, the Home Battery Subsidy has been swapped out for Solar Battery Loans in Victoria! Now, homeowners can apply for an interest-free battery loan of up to $8,800 to help cover the upfront costs of installing a battery. Plus, you can spread out the repayments over four years, making it easier to get started with battery storage.

Who Can Apply for the Loan:

To be eligible for the Battery Loan Program, households must meet specific criteria. Here are the key requirements:

Victorian Resident: You must reside in Victoria.
Solar System Installed: Your home should already have a solar system installed with a capacity of at least 5kW. If not, you can arrange to install panels along with the battery.
No Previous Solar Rebate: Your property must not have previously received a rebate.
Network Approval: Your Distributed Network Service Provider (DNSP) must pre-approve your battery connection for grid safety. (Check that your installer includes this in their quote.)
Approved Battery Model: The battery you install must be on Solar Victoria’s Approved Battery List, and your home must not have an existing battery.
Owner-Occupier: You must live in the property where the battery will be installed.
Combined Household Taxable Income: The combined household taxable income of all property owners must be under $210,000 a year (check your ATO Notice of Assessment).
Existing Property Under $3 Million: The property should be valued below $3 million, based on the current council rates notice.
Willing to Join Battery Trials: You agree to get info from your DNSP about battery trials that could boost the benefits you get from your battery.

If you meet these criteria, you can apply for the loan through a participating solar retailer or directly online via the Solar Victoria website.

With the Battery Loan, adding a battery to your home has never been easier or more affordable!

If this all sounds like a lot of information, don’t stress! The installers we connect you with can help determine if you’re eligible for the loan and advise you on the application process.