Solar for Business rebates will remain at $3,500 until all rebates for have been fully?allocated. When the current amount is allocated the maximum value will be $1,750 thereafter. Businesses also have the option of an interest-free loan.
The Solar for Business Program is an initiative designed to support Victorian businesses to reduce their energy costs by accessing the benefits of renewable energy.
This initiative will bring down energy bills for eligible businesses by reducing the upfront cost of the installation of an approved small-scale solar PV system up to 30kW inverter capacity. To support the economic recovery of Victorian businesses and the broader solar sector, 15,000 solar PV rebates will be available over the next three years.
Rebates cover up to 50 per cent of the cost of a rooftop solar system with businesses eligible for a maximum rebate of $3,500 to reduce the upfront cost of installing solar on their business premises, plus the option of an interest-free loan.
This means the total rebate amount will be capped at 50% or $3,500 of the cost on any approved system. For example, if the net costs of solar are $10,000, then the rebate value applied is $3,500 (not $5,000) or if the net costs are $4,000, then the rebate value applied is $2,000 (not $3,500).
Solar for business rebates will remain at $3,500 until all 5,000 forecasted rebates have been fully allocated. Once the current amount of rebates are allocated the maximum rebate amount will be $1,750.