The Victorian Labor government has recently announced changes in their regulations that will now allow households of the state to obtain rooftop solar systems with minimal up-front costs by leasing deals through solar companies.
The Daniel Andrews government issued a media release which revealed that the project will enable solar power companies to install, provide and maintain household solar power systems, in exchange for the house owner purchasing the energy they provide for an agreed upon price.
More on rooftop solar leasing
Solar leasing in the US is already quite established as a residential solar growth market. Energy providers such as Solar City have reaped the benefits of the arrangement, in Europe as well as the US.
Residential homes that plan to have a solar system installed and wish to decrease their energy bills but can’t afford the up-front payment of around $4000,$6000 are targeted.
The take off of solar leasing has been slow in Australia so far, similar to the beginning of other solar market trends.
This is somewhat to do with challenges in regulations, however it’s been predicted that solar leasing could rapidly turn into a sub-sector worth billions of dollars.
The Victorian regulation change was a result of the Labor Renewable Energy Roadmap. This is a quite ambitious plan which hopes to speed up the generation of renewable energy and subsequently create sustainable employment.
In addition, it accompanies the state government’s continual review of regulations concerning small-scale renewable energy businesses, by allowing the companies to now operate more efficiently within the market.
The Victorian energy minister Lily D’Ambrosio said, “We are making it easier for Victorian householders to take up renewable energy technology,”.
“We are helping boost investment in renewables, creating new energy jobs and protecting the environment.”
Photo courtesy of 64MM
