It is worth investing in a solar panel system if you own a business in Gippsland. The main reason for this is the solar rebates that the state of Victoria offers business owners. Eligible businesses can sign up for a solar panel rebate and receive an interest-free loan.
In this article, we’ll discuss the main program to take advantage of solar rebates in Victoria for business, eligibility, and the interest-free loans available.
What is the Solar for Business Program?
The Solar for Business Program is a program intended to help businesses in the state of Victoria in reducing the costs associated in installing a solar panel system. The initiative is extremely beneficial since it will significantly lower the upfront expense of getting solar in Gippsland. Businesses with a solar PV system of up to 30kW inverter capacity can benefit from this program.
Business owners can obtain a rebate that can cover up to half of their total cost of getting a solar panel system for their establishment. A maximum rebate of $3,500 to reduce the upfront installation cost, along with the option to get an interest-free loan is available.
Any approved business owner can get a total rebate of $3,500 or 50% of the cost.
Is My Business Eligible for the Solar for Business Program?
All business entities, including not-for-profit organisations and charities, can take advantage of the Solar for Business program. However, they’ll need to meet the following criteria to be eligible:
- You need to own a business that employs at least 1 individual (owner not included) and has less than 50 full-time equivalent (FTE) employees.
- The business has to be situated in an individually-metered location.
- It needs to be operating on non-residential premises.
- The solar panel system of the business needs to be installed by an approved solar retailer by Solar Victoria.
- The business has not received a Solar for Business program rebate in the past.
- The solar system has an inverter capacity size of up to 30kW, which is based on the approved product list of Solar Victoria. If you’re unsure how much power do solar panels produce, you can read more on our blog.
Business owners who own their locations and those renting can take advantage of the Solar for Business program rebate.
This rebate will only be available if a business solar panel system was installed after May 28, 2021, which was the program’s opening for applications.
Who is ineligible for the Solar for Business Program?
Unfortunately, a landlord or rental provider of the business premises isn’t allowed to sign up for the rebate on behalf of an establishment.
Interest-Free Loans for Solar
Business owners can further reduce their expenses in terms of installing a solar panel system by applying for an interest-free loan sponsored by the Victorian government. The loan amount will be based on the quote you’ve provided to Solar Victoria.
A solar loan can start from $1,000 up to a maximum of $5,000. Applicants can choose to pay the loan over 12 or 24 months. They can also repay the loan in one lump sum if they wish.If you’re still asking the question ‘Is solar worth it?,’ then read our post about it to find out.