To further reduce the up-front cost of solar panel (PV) systems, eligible householders can also apply for an interest-free loan equivalent to the amount of their rebate.
You will be notified of your eligibility for a loan as part of the rebate application process via the Solar Victoria Portal. If you are eligible, you can select whether you would like to take up the loan option.
Interest-free loans must be paid within a four-year period, or sooner if you choose to do so.
These loans are not available for solar hot water or solar batteries.
Under the new application process, the rebate and loan amounts will be deducted from the cost of your system – ensuring you only have to pay any outstanding balance once the system is installed.
Your solar retailer will then be reimbursed for the rebate and loan amounts.
In line with the existing rebate, the new interest-free loan can be applied up to an amount of up to $2,225. If your system costs less than $ 4450, there will be no upfront cost.