{"id":77553,"date":"2023-07-28T09:48:13","date_gmt":"2023-07-28T00:18:13","guid":{"rendered":"https:\/\/www.solarquotes.com.au\/blog\/?p=77553"},"modified":"2023-07-29T13:42:29","modified_gmt":"2023-07-29T04:12:29","slug":"victorian-battery-loans","status":"publish","type":"post","link":"https:\/\/www.solarquotes.com.au\/blog\/victorian-battery-loans\/","title":{"rendered":"Victorian Government Backs Home Batteries With 0% Loans"},"content":{"rendered":"
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Installation: Solar Dynamics<\/p><\/div>\n

Victoria has added a subsidised loan to help solar panel owners add batteries to their homes under its $1.3 billion Solar Homes scheme.<\/p>\n

In a media release (PDF)<\/a>, the government said the scheme will take \u201cthousands\u201d off the upfront cost of buying a solar battery.<\/p>\n

The $8,800 interest-free battery loan announced yesterday by environment minister Lily D\u2019Ambrosio would also save households thousands on their energy bills over the life of the battery.<\/p>\n

For new customers, the battery loan is in addition to a $1,400 rebate and a $1,400 solar PV interest-free loan, if the battery is installed at the same time as the solar, for a total reduction in the initial cash outlay of $11,600. Obviously, $10,200 of that has to be paid back over time.<\/p>\n

The 226,000-plus households who have already claimed a Victorian solar PV rebate will still be able to claim the battery loan.<\/p>\n

The government said the battery loan scheme aims to increase household solar self-consumption from its current level of 28 percent to around 60 percent.<\/p>\n

After the PV rebate and federal government small-scale technology certificates (STCs), the government said household out-of-pocket install costs for solar PV and battery start at around $10,300, with a 6kWh battery setting homeowners back around $8,000. An 11kWh battery lifts that to around $17,000.<\/p>\n

Finn advises that for those prices, you’d be looking at a good budget solar and battery system; for example, the Sungrow battery<\/a> system in this video, with 9.6 kWh of storage and 6.6 kW of good budget panels such as Jinko<\/a>, should be in the $17,000 range (depending on the installation difficulty of course).<\/p>\n