Thousands of owner-occupiers and renters of apartments in Victoria are expected to benefit from a state and federal program that will provide generous subsidies for the installation of solar panels in apartment buildings.
According to the Australian Bureau of Statistics and based on 2021 census data, 12.1% of Victorian residents live in housing. This represents a slight increase from 11.6% in 2016. Apartment dwellers, particularly renters, are among the groups struggling to access the benefits of solar energy. And with around 65 per cent of Victorians living in apartments being renters, many are missing out.
In September last year, the Victorian Government announced a program to provide grants to owners corporations (OCs) for the installation of solar panels. The funds will be provided through the Albanian government’s Community Solar Banks initiative. Successful applicants can receive up to $2,800 per apartment or up to $140,000 per building for up to 50 apartments; whether self-occupied or rented.
The approval requirements (of which there are a number) include that proposed systems must demonstrate a payback period of system and installation costs of within 10 years. Projects can consist of individual systems connected directly to homes or a single large system coupled with solar sharing technology. An example of a sharing technology made here in Australia is SolShare.
First round answer
The $16 million Solar for Homes program received strong interest in the first round – 438 applications from homeowners’ associations for more than 5,000 homes with a total capacity of 12 megawatts. But how many a guernsey scored is not clear.
Victorian Energy and Resources Minister Lily D’Ambrosio yesterday visited an apartment complex in Northcote, which was the first building to have panels installed as part of the initiative. Northcote’s proportion of homes that are apartments is well above the national average: 22.8%.
The ownership company received $39,200 to install a solar system connecting 14 apartments.
“We are helping Victorians living in apartments take control of their energy bills and reap the benefits of cheap, renewable energy by reducing upfront costs and streamlining the installation process,” Minister D’Ambrosio said.
The second round starts soon
Round 1 ended at the end of May this year, but the next round won’t be long in coming – sometime this month.
“If you plan to apply for a grant in Round 2, now is a good time to start your research and talk to your OC about installing solar on your home,” says Solar Victoria.
You can find out more about the possibilities of solar installation in apartment buildings here.
While OCs are required to sign a financing agreement, applications can be made by apartment residents, strata managers or OCs; Although getting all parties on board from the start is probably the smartest move. Solar Victoria has also indicated that the application process for the second round will be different to that for the first round, but details have yet to be released.
Further incentives for purchasing solar panels on VIC rental properties
The Solar for Apartments program isn’t the only show in town supporting solar installations for renters. The Solar for Rentals program offers eligible landlords a rebate of up to $1,400 for installing solar panels on their rental property. At the time of writing, there were still 1,917 discounts available in the current release.
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