Victorian government to introduce interest free loans for new rooftop solar panels
Tenants will be able to negotiate with landlords to install solar panels under a new government program aimed at subsidising installations.
The Victorian government will offer interest-free loans to subsidise household solar panel installations in a bid to make energy more affordable for renters and landlords.
Solar Homes Minister Lily D’Ambrosio announced on Monday that eligible households can apply for loans of up to $1850 to supplement existing rebates for homeowners who introduce the renewable power into their energy mix.
The government said landlords could work with their renters for a loan-repayment system where both parties contribute up to $19.27 a month to pay off the panels they say can reduce electricity bills by up to $74 a month.
Solar Victoria, the state government’s solar retailer, said if the total system cost less than $3700, there would be no upfront costs to new installations.
Households that earn a combined taxable income of more than $180,000, whose home is valued at more than $3 million are not eligible to apply.
The report was the latest in a wave of research calling for government stimulus to focus on renewables, and was informed by current proposals from around the world, including the European Green Deal.
“We know renters often dream of the chance to cut their energy costs and this expansion will help thousands more get that chance,” Ms D’Ambrosio said.
“Not owning your own home shouldn’t stop you from having access to cheaper, cleaner solar energy.”
The loan is required to be repaid over the course of four years.