Victoria’s generous renewable energy subsidies face cuts

School & Education / Sustainability by Tom Edwards

photovoltaic panels solar on the roof of a residential house

Energy touches every part of our lives. From work and education to travel and play, it is an integral part of our social fabric.

The Victorian government has some of the nation’s most ambitious climate targets – e.g. 95% of all electricity to come from renewable energy by 2035 and to have 6.3GW of storage by 2035.

Yet while the state leads the nation in supporting the growth of renewable energy to secure a green energy future, the economic reality as Victoria’s net debt soars is the government walks a tightrope trying to balance the books.

This means that some of the state’s programs face razor-sharp cuts in the coming months as reported recently.

As such, it is highly anticipated that Solar Victoria’s incentives such as the following will end by this financial year ending 30 June 2024:

  • $8,800 interest-free loan on solar batteries,

followed by a possible reduction to:

  • $1,400 interest-free loan for solar panels, if eligible;
  • $1,400 rebate for solar panels, if eligible; and
  • $1,000 rebate for energy-efficient heating/cooling systems, if eligible, such as heat pump hot water/air-conditioning.
Hurry! Countdown is on to 30 June 2024

Victoria’s Premier Jacinta Allan and Treasure Tim Pallas, who are confronted with a budget that needs to rein in spending to address the ballooning of our state debt, is due to release new initiatives under the state budget address on 7 May 2024.

If you are still thinking about making the transition to solar and all things renewable, it is a good idea to take advantage of Solar Victoria’s generous in incentives before 30 June 2024.  There is a good chance that these rebates and interest-free loans may disappear or decline by the new financial year.

Why UNIfied?

At UNIfied, we are here to ensure your electrification journey is as efficient and seamless as possible.  You can look forward to paying less on your electricity bills when combining a UNIfied solar system with one of the solar batteries we have in our range.

Contact UNIfied today or call 1300 817 847 to achieve greater savings in these precarious times, and start your journey of clean energy living!

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