The Solar Rebate is Reducing in Victoria!
Posted: 29 Jun 2020
Changes are scheduled to happen to the Victoria Solar Homes Program with the start of the new financial year. We break down what’s changing and what we recommend you do.
The rebate is set to reduce by a whopping $38, bringing the maximum down to $1,850 from $1,888. From July 1 until December there will be 32,700 new rebates available for solar power systems, these will be released two times per month in lots of 2,700. Victorians will still get to use the national solar rebate as well as the state-based rebates.
At the start of the new financial year all solar PV modules being installed must be on the Clean Energy Council’s approved product list AND from a brand participating in the Solar Panel Validation Initiative. The Solar Panel Validation Initiative is an initiative put in place to protect consumers from purchasing dodgy, poor quality solar modules. All the big brand names participate in this initiative, so there are still plenty of brands and options to choose from.
There is one more change to be aware of, on July 1 the Victorian battery rebate will reduce from a maximum of $4,838 down to $4,174. The program will be expanded to encourage an increase in virtual power plants. Between July 1 and December there will be 500 rebates available, and these will be released in blocks of 40 twice per month.
Feed In Tariffs
The feed in tariff is changing for customers who are currently on the minimum feed in tariff (FiT). It will be reduced to a single-rate minimum FiT of 10.2 cents per kilowatt-hour (c/kWh). This is a decrease of 1.8 c/kWh. Retailers can also offer solar customers a time-varying minimum FiT.
From 1 July 2020, under the time-varying tariff customers will receive an off-peak rate of 9.1 c/kWh, a shoulder rate of 9.8 c/kWh and a peak rate of 12.5 c/kWh. Changes to the FiT are due to forecasts of wholesale electricity prices being reduced.
The Solar Victoria portal will be shut down 6pm Tuesday the 30th of June until 6am on Wednesday the 1st of July to update the platform with these changes.
What does this mean for you?
These changes are a friendly reminder to invest in solar sooner rather then later. Rebates on systems will only reduce and using it whilst its higher is better for your pocket. Start the process by reading up on solar, taking our quiz to see what system you need and comparing 3 free quotes to compare actual prices and installers.
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