Before you begin: already know you want to apply? Scroll to the bottom of the blog and hit “get in touch” to contact us now.
So – we’ve got good news, and bad news.
As is tradition, let’s deal with the bad news first: as you may have heard, the Victorian Solar Battery Rebate ended on 30 June 2023. A popular incentive that greatly increased the number of Victorians opting to add solar battery storage to their existing solar systems, we were proud to offer the rebate to our customer. But, as with all government rebates and incentives, the landscape often changes – based on various external and funding-related factors.
The good news?
Get ready to embrace a more sustainable future, blackout-proof your solar system, and even make money from the excess solar power you generate and store – because we’re thrilled to introduce a brand-new program offering Solar Battery Interest Free Loans, available exclusively from Solar Victoria for eligible G-Store customers like you!
Let’s get started.
What is the Solar Battery Interest-Free Loan?
Announced in the 2023-24 Victoria State Budget in June 2023, Solar Victoria’s Solar Battery program is evolving from providing rebates to offering exciting loans for solar batteries, up to an incredible amount of $8,800 interest free for a limited number of households – that’s up to 4,500 lucky homes!
But wait – what is a solar battery?
A solar battery, also known as a solar energy storage system or solar battery storage, is an incredible feat of contemporary technology that lets you save up the extra electricity your solar panels generate during the day.
Instead of wasting it or sending it back to the grid, you can store it for when you need it later on. It’s akin to having a fail-safe backup plan for your solar power.
Here’s how it works: When your solar panels soak up the sun’s rays, they produce electricity. However, due to various weather-related and environmental factors, the amount of energy they make often changes throughout the day. Sometimes, you can end up with more power than you can use, especially when the sun is shining bright. With a solar battery, you can store that extra electricity for those times when the sun isn’t as generous – like when it’s nighttime or overcast.
The solar battery has a special storage unit, usually made of incredible lithium-ion batteries, where it keeps all that saved-up energy. Then, when you need more electricity than your solar panels are making, the battery kicks in and supplies the power you need.
By having a solar battery, you can make the most of the electricity your solar panels generate. You won’t have to rely on the grid as much, which means you can save some money too. Plus, during power outages, your solar battery has your back and keeps essential electricity flowing.
Solar batteries come in different sizes and have various capacities, so you can pick the one that suits your energy needs the best. What’s more, solar battery technology keeps getting better and cheaper, so they’re becoming an awesome option for homeowners who want to take full advantage of solar energy.
Is a solar battery right for my home?
Before diving into the world of solar batteries, we encourage you to do thorough research and determine whether a battery is suitable for your specific home and circumstances.
Of course, as a trusted solar retailer of more than 15 years, we believe that informed decisions lead to the best outcomes. G-Store is proud to play a crucial role in guiding our customers towards the right product and system size that aligns perfectly with your household’s current and future energy needs.
During this process, we’ll actively discuss your various system configuration options, including backup power capabilities, to ensure you’re well-informed about the possibilities.
Who is eligible for the interest-free solar battery loan?
Rest assured that Solar Victoria acts as a responsible lender, ensuring loans are provided to customers who meet the appropriate criteria and who don’t carry an inappropriate risk associated with their application.
To maintain transparency, we adhere to the New Energy Tech Consumer Code (NETCC) standards, which means you’ll be fully aware of the expected performance and any limitations of the products we install.
We understand that obtaining a loan may not be suitable for everyone, and that’s perfectly okay. Our priority is to empower you to make the best decision for your unique circumstances. While we’ll soon be updating our website content to provide you with all the necessary information and resources to make an informed choice, you can also visit Solar Victoria’s website for more detailed information about the loan offering.
Now – let’s talk eligibility.
Our team is excited to let you know that the eligibility criteria for the loan have expanded! Unlike the previous battery rebates, loans are now available to customers who have already received Solar Panels (PV) and/or Hot Water rebates. This means that, for the first time, eligible Victorians can apply for both rebates and loans across the entire Solar Homes suite of products. However, please note that battery loans are currently limited to existing homes and not offered for homes under construction.
To be eligible for a battery loan, the following criteria must be met:
You must be the owner-occupier of an existing property where the solar battery system will be installed
The combined household taxable income of all owners should be less than $180,000 per year
The property’s value should be under $3 million
The property address must not have previously received a solar battery rebate
The property should already have a solar panel system with an inverter capacity equal to or greater than 5kW, or you should arrange to have one installed alongside the solar battery
The battery energy storage solution must have a capacity equal to or greater than 6kWh and be listed on Solar Victoria’s battery product list – the property should not have an existing energy storage system
As well as meeting these eligibility criteria, there are a few other boxes to check. Unsure whether or not you meet the criteria, or want to discuss it over the phone (with a real, informed person) rather than read through countless documents?
Just give our friendly, award-winning G-Store solar team a call on 1300 766 940.
How do I apply for an interest free solar battery loan?
To simplify the application process, we’ve divided it into two stages:
Stage 1 – Initial Eligibility Check
You can perform an initial eligibility check through the Solar Homes Service Victoria portal. You’ll be asked to provide your quote number (from G Store) along with proof of identity, property ownership, and income.
This step will confirm if you meet the eligibility criteria and allow you to progress to the loan application stage. Starting from July 17th, you’ll be able to complete the initial eligibility check.
Stage 2 – Loan Application Process
Once your initial eligibility is confirmed, Solar Victoria will contact you and request an Equifax credit check (available online for free) and a financial attestation statement. These documents will be reviewed to assess your capacity to complete the loan payments.
Remember, the loan must be repaid within four years. Please note that a credit check is only required once your eligibility is confirmed, and you receive a notification from Solar Victoria.
How much does a solar battery cost?
At G Store, we’ve already hand-selected the market’s very best solar batteries when it comes to efficiency, quality, cost-effectiveness and flexibility of installation options.
The interest free loan is available for a range of solar batteries, including (but not limited to) the following:
Unsure which battery will suit your needs? Just get in touch.
We’re excited about this incredible opportunity to bring solar batteries within reach for eligible G-Store customers just like you.
By jumping on board with this environmentally-friendly solution, you’ll not just shrink your carbon footprint but also reap the rewards of sustainable energy in the long run. We’ve got your back throughout the entire journey, making sure you’re equipped with all the info you need to make a smart and well-informed choice.
Act now to avoid missing out!