QLD Solar Loans Program Kicks Off – Battery Grants On The Horizon

Image: MariaGodfrida

The Palaszczuk Government has announced the launch of interest free solar loans for Queensland households, plus a few more details have been released on upcoming battery and solar + storage support.

It’s expected 3,500 households will benefit from the solar-only loans, which will be means tested and up to $4,500 each.

Eligibility criteria includes:

• Applicants must meet the Family Tax Benefit B criteria
• Have electricity bills of at least $1000 over 6 months or $2000 over 12 months
• Meet credit and loan assessment requirements

The systems must be installed by one of 18 approved suppliers ¹, not all of which service all areas.

“These solar loans are offered with no interest, no fees and no charges for the seven-year loan period and aim to cover the supply and installation of an average 3-kilowatt solar system,” said Energy Minister Dr Anthony Lynham. “A successful applicant will pay no out-of-pocket expenses to access the loan and could save around $2450 over the life of the loan period.”

Further details on the initiative are available here.

While some may be disappointed by the eligibility criteria, Premier Annastacia Palaszczuk said the initiative is designed to help those who need it most. For those not eligible, there’s still the nationally available “solar rebate” along with other financing options.

In related news, since we last reported on upcoming support for the purchase of battery and solar + battery systems in Queensland, there’s been some further updates.

Battery System Grant/Loan Update

Still in the works are interest-free loans and grants  for solar battery storage, which are expected to be available late this year. The Queensland Government states approximately 500 battery assistance packages will be available through grants of $3,000 and interest-free loans of up to $6,000; repayable within 10 years. While details are still scant, if you are receiving the 44 cent feed-in tariff under the state’s legacy Solar Bonus Scheme, you won’t be eligible.

Solar + Battery Storage Assistance Packages

Also slated for late this year are 1,000 assistance packages for combined solar and battery systems. Grants of $3,000 and interest-free loans of up to $10,000 repayable within 10 years will be on offer.

Further details on the storage-related assistance packages will be available later this year, but it appears both will also be available to small businesses, body corporates and trusts – however these entities will only be able to apply for the grants, while households can apply for a loan and grant under either assistance package.