Numerous residents of Victorian apartments are embracing solar energy, substantially reducing their electricity expenses by as much as $500 annually. This surge in adoption comes in response to the overwhelming demand for the Albanese and Allan Labor Government's Solar for Apartments initiative, which allocates $16 million toward this endeavor.
Today, Lily D’Ambrosio, the Minister for Energy and Resources, declared an extension of the application period until May 31, 2024, due to the remarkable interest observed during the first round of applications. Since the opening of applications on February 13, a total of 143 apartment complexes, encompassing 2,477 individual units, have applied for the program, with numerous others expressing interest. Extending the application window aims to ensure that all interested apartment dwellers have ample time to apply for the initial round of grants.
Successful applicants stand to benefit from rebates of up to $2,800 per apartment or a maximum of $140,000 per building, enabling the installation of solar panels on rooftops. This initiative not only aids in reducing energy bills but also facilitates apartment upgrades while contributing to emission reduction efforts.
The Solar for Apartments program is set to distribute up to 5,000 rebates for solar PV systems, offering potential savings of up to $500 annually on electricity bills for participating apartment residents. Eligibility for the program extends to low to mid-size apartment buildings, with heights of up to eight stories and comprising between 5 to 50 units.
Historically, the adoption of solar energy in apartment complexes has been hindered by complexities and costs. The Solar for Apartments initiative addresses these challenges by mitigating upfront expenses and streamlining installation processes.
To qualify for funding, buildings must not be designated as retirement villages, commercial properties, or owned by local councils, property developers, or community housing organizations. Solar Victoria has collaborated closely with industry stakeholders, local authorities, and strata community representatives in crafting this program, aiming to ensure that apartment households can fully leverage the benefits of solar energy.
For additional details and to submit an application, please visit solar.vic.gov.au/apartments.
