[VIC] Interest Free Loans + Rebates for Renters on Solar Panels from Victorian Government

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SupeNintendoChalmers on 28/07/2020 - 11:54 solar.vic.gov.au (330 clicks)
Last edited 28/07/2020 - 12:12 by 1 other user

The Victorian Government has expanded the Solar Homes program so more renters and landlords across the state can access affordable rooftop energy with a Solar Homes rebate.

Minister for Solar Homes Lily D’Ambrosio today announced that eligible landlords can now apply for an interest-free loan in addition to the existing rebate available, encouraging more solar installations that benefit renters.

Landlords can apply and pay for the entire solar system themselves, or work with their renters for a loan repayment co-contribution of up to $19.27 a month, equivalent to the cost of a takeaway coffee each week.

By offering an interest-free loan to landlords and allowing them to access up to two solar rebates per financial year for their rental properties, more renters can access cheaper energy, not just homeowners.

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Solar Victoria: Solar Homes Program

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  Wilder94 on 28/07/2020 - 12:00

  -7

  work with their renters for a loan repayment co-contribution of up to $19.27 a month, equivalent to the cost of a takeaway coffee each week.

  So in other words, screw the renter over that little bit more?

  • 

    Krankite on 28/07/2020 - 12:04

    +12

    The intention is that the contribution is more than offset by the reduction in the power bills. The whole point of the scheme is to get around the problem that the landlords own the panels while the tenants benefit from the reduction in power bills so neither has an incentive to install them.

    • 

      ryang on 28/07/2020 - 13:38

      +1

      I get what they're saying though.. If the power bill isn't offset by more than the co-contribution, why would the renter want it? So then it comes back to what would be installed, capacity, etc. If the landlord cheaps out too much, you do end up just being screwed again whilst they pocket the change.

      • 

        tritorius on 28/07/2020 - 14:42

        so don't get it? no-one is forcing the renter to take the deal and regardless of the quality it would be almost impossible not to receive at least $20 less on your bill a month from having solar panels installed.

    • 

      Snoop on 28/07/2020 - 15:49

      +2

      I agree with what you're saying. That has been a fair sticking point for me.
      Yeah I could put the rent up, but not by anywhere near enough to cover the cost of the system in a reasonable time frame.

      And as much as I think this makes a whole lot more sense, myself personally, I'd still have the concern about what happens in the future… when it requires maintenance or replacement, and the added expense then? If they don't have it, I don't have to fix it!
      The other issue for the tenant is tariffs. Not sure if retailers still do it, but a few years back I received 2 different quotes for supply from 2 different suppliers… 1 with solar, 1 without. And the difference was enough from both for me to inform my tenant not to bother telling them about it. Especially as it's only a pissy little system that was already on the house!

      But if some of my tenants wanted it, this scheme would at least make me think further into it. As for another… I'd just be happy if he didn't deliberately play on the Govt's moratorium the very day after it came into effect!!!

      • 

        donkcat on 28/07/2020 - 19:57

        +3

        Individual circumstances will differ but with this arrangement you can get a deal like this https://www.ozbargain.com.au/node/552675 and you are getting a 6.6kW for $925. The solar system will increase the value of your rental by greater than $925 if you went to sell. Will make your property more attractive for tenants and realistically after the 4 years loan is paid off you would have the ability to charge any new tenants probably $20-$40 a month extra rent for a solar system that's already been paid for.

        As far as getting stuck with issues there is an element of risk there, the inverter is 10 years warranty but only 5 of those are parts and labor and the other 5 is just parts. The solar panels are 15 years but again these cheaper panels won't cover the labor to replace the panels.

        Realistically you are getting a approx $6800 system for $925 which consists of $1850 state government rebate, $3200 in STC credits and your tenant paying the other $925. Frankly it's a pretty sound investment for a landlords and once again subsidized by tax payers.