Victorians can save big on energy bills under a major boost to the state’s Solar Homes Program announced in the 2024/25 Budget.
The Allan Government will invest $37.7 million to deliver 35,000 rebates for energy efficient electric hot water systems. A further $6 million will also go towards interest-free loans for household solar battery and storage installations.
Since 2018, more than 257,000 rooftop solar systems have been installed on homes across Victoria through $624 million in existing rebates. The systems generate a combined 1.7 gigawatts of power.
Additionally, the program has delivered 19,000 energy efficient hot water systems and almost 17,000 solar battery systems to households.
Lily D’Ambrosio, Victoria’s Energy and Resources Minister said the government is helping families slash their energy bills “with more discounts for energy efficient hot water which can save them up $1000 off the installation costs and $400 on their bill each year”.
“We’re making sure that Victorians facing hardship receive the support they need through extra one-on-one support to access the concessions and help,” she said.
Heating and hot water account for over 50 per cent of a home’s total energy use. Installing a heat pump hot water system alone can reduce power bills by up to $400 per year. Combined with rooftop solar, annual savings can reach $1400.
The Budget also allocates $5.9 million to enhance the Victorian Energy Upgrades program, encouraging residents to switch to electric appliances and reduce energy costs.
Member for Box Hill Paul Hamer said: “More Victorians than ever before are switching to efficient electric technology and our rebates are helping them save thousands on installation and driving down emissions.”
Households can visit solar.vic.gov.au/hot-water-rebate to apply for the hot water rebate. The government’s Energy Compare website at compare.energy.vic.gov.au allows Victorians to find the best deal on energy plans, which according to the government can potentially save $170 per year.
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