Queensland boasts the highest number of solar panel installations in Australia. To ensure continued uptake of rooftop solar panels, and the early adoption of solar battery storage technology, the Queensland state government has set aside $21 million to provide interest free solar loans for renewable energy systems and other clean energy technologies.
The Queensland Government announced that it would be issuing tens of millions of dollars in solar rebates, incentives and interest-free loans meant to inspire solar power installation in 20,000 homes.
These measures form part of the $2 billion worth of electricity price policies announced this week.
According to an energy analyst, the reasonable pre-election measures should be backed by other efforts aimed at reducing the cost for all consumers.
Apparently, the interest free solar loans will allow homes and small businesses to take charge of their own power usage, fix the issue of electricity affordability, and enable easy access to upfront capital necessary for purchasing systems.
The installation of these new technologies is poised to help customers save up to $700 on their budgets each year. However, the actual savings will depend on various factors including how much of the energy generated is consumed by the customer.
The $2 billion Affordable Energy Plan by Palaszczuk’s Government will see Queenslanders access upfront capital through interest free solar loans for rooftop solar panel systems and solar battery storage installations across Queensland.
The scheme is expected to kick off in March this year.
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“Solar panels and batteries are a great way for households and small businesses to cut their electricity bills, but for some the upfront cost can be a challenge,” said Treasurer Curtis Pitt. “It will also help in supporting to kick start the growth of the battery industry in Queensland.”
Interest free solar loans
Free solar loans for rooftop solar power systems and solar battery systems will be available from March 2018.
Solar battery rebates
To complement the no-interest loan scheme, and in recognising the higher costs of purchasing batteries, customers will get a rebate of $1,300–$2,000 on battery systems.
The rebate was available from the beginning of this year. Already three retailers—Alinta Energy, QEnergy, and Origin have signed for the Affordable Energy Pledge.
In addition, the Affordable Energy Plan will provide other initiatives including rebates of up to $300 beginning January 1, 2018 on the purchase of any energy efficient fridge, air conditioner or washing machine. Notably, regional Queenslands Ergon Energy customers that choose to switch to monthly billing options will benefit from electricity bill discounts of $75 for homes and $120 for small businesses annually. Moreover, 4,000 regional homes will save up to $200 through an Energy Savvy program.
Click here to find out what solar rebates and incentives you’re eligible for.