Australia’s energy sector is quickly evolving. While we have conventionally relied on huge fossil fuel generating units to meet our electricity demand, solar, storage, and other renewable energy technologies are now assisting households in regaining control of their energy.
Hundreds and thousands of Victorians already are realizing the rewards of solar and saving money on their energy bills. With solar panel prices continuing to fall and a slew of federal govt solar and battery reimbursements to help you get started, it’s important to consider whether now is the time to buy or upgrade.
What are the prices of solar panels in Victoria?
A conventional solar system in Victoria should cost between $3,900 and $8,200, based on the size of the system. A small system (2kW or less) should typically cost no more than $3,000, whereas systems 10kW or larger can cost well over $9,000.
A 3kW system costs around $3903 which is $90 below the national average. A 5kW should cost you around $4620 which is $470 below the national average. A massive 10kW system should cost around $8180 while the national average is around $9180 a whole $1000 more.
These are the estimated costs for Melbourne, VIC. The real cost of your solar panels will vary widely depending on the location, what system you want, and who you choose as your installer. Contact your fav installation specialist for a detailed quote. However, Solar power getting cheaper is a reality nowadays.
In Victoria, how many homes have solar panels?
As per Solar Victoria, there are roughly 510,000 Victorian homeowners with solar, generating nearly a third of the state’s total electricity consumption.
The Victorian Government announced the ‘Solar Homes Program’ on July 1, 2019, with the goal of increasing solar adoption through an upfront rebate. The government plans to assist 770,000 households in investing in solar while lowering the state’s carbon footprint. So, if you don’t already do have solar, now might be a good time to start.
Victoria Incentive and Rebates
Victorians are currently eligible for some of Australia’s most gracious solar incentive programs. Small-scale Technology Certificates (STCs), Feed-in Tariffs (FiTs), and the aforementioned Solar Homes Program are examples of these.
Certificates in small-scale technology in Victoria
STCs (Small-scale Technology Certificates) are a type of discount on the original purchase price of a solar system. Customers who install a sustainable energy generator, whether wind, hydro, or solar, will receive a certain number of certificates.
STCs can be swapped for around $40 and can save you hundreds, if not thousands, of dollars on your solar system. The amount of STCs you receive is determined by the forecasted electricity output of your solar system over its lifetime.
Program for Solar Homes in Victoria
Solar Victoria claims that eligible households can receive a refund of up to $2,225 off the expense of a solar panel (PV) system. Qualified households with solar battery storage may be qualified for a device rebate of up to $4,838, while households installing a solar hot water heater may be qualified for a $1,000 rebate.