WHAT DO I NEED TO KNOW ABOUT THE LOANS FOR SOLAR?
When it comes to installing commercial solar systems Melbourne Wide, the first question we often hear is, “what are the finance options?” And it’s a good question, given that commercial properties usually benefit from larger solar panel systems (PV systems) to cover their more heavy-duty energy usage, and larger PV systems are more expensive. Thankfully, the Victorian Solar Homes Package offers convenient interest-free loans that makes solar energy accessible to most landlords and retailers. Read on for details.
Which Businesses are Eligible for the Solar Loan?
The full suite of rebates and loans for small business have not yet been released, however, what we can say is that the forthcoming rebates and loans are set to closely resemble the ones already available for homeowners.
These new rebates and loans are promised to launch in 2021 and will form part of our road to economic recovery, as well as aid with our state emissions reduction targets.
Given that the new year has rolled around, we recommend taking the time to explore your PV system options and us and deciding which system would suit your business best, so you can quickly apply for the loan and rebate scheme as soon as it becomes available.
Why? Because just like the home solar rebate, the small business solar rebates and loans will decrease over time. The faster you can apply, the bigger savings you will make.
How Do Solar Loans Work?
If we take a look at the existing home solar rebate, then the interest-free loan should be around or exceed $1,850. In the home solar scheme, if your PV system cost is less than $3,700, then there will be no upfront cost. Loans are available to eligible owner-occupiers and landlords and must be repaid over 4 years (although extenuating circumstances will be considered).
Currently these loans are available for solar panels only, but we expect to see the same program extended to batteries and other energy saving solutions, such as upgrading old heaters and cooling systems.
In keeping with being convenient and simple, you won’t have to crunch the numbers yourself to work out if you’re eligible either. Solar Victoria will determine your eligibility and it all flows from there. In fact, at Sunstainable we can apply on behalf of our customers, so you not only save on money but also time.
In fact, the easiest way to find out if you are eligible for the raft of loans, rebates and off-set schemes offered by the Victorian government is to contact us here at Sustainable for a quote.
Once we confirm that you are eligible, we claim the rebate on your behalf and deduct the amount from the cost of your solar system.
Aare there any Downside to the Solar Loan scheme?
So long as you fully understand the terms and conditions of the loan, and familiarise yourself with how it all works, there’s very little room for error, provided that you are deemed eligible.
Solar Victoria takes care to only give loans to those who are in a good position to make repayments. Furthermore, the loans themselves make great financial sense.
As discussed on ABC Radio Adelaide, solar loans can help make you cash flow positive. As you can expect to pay less on your energy bills after the installation of a PV system, your repayments will be offset by your savings. Then, when your PV system loan is completely repaid, you can reap the rewards of cheap clean energy for many years to come. It makes good financial sense.
However, room for error does exist when it comes to your PV system. No loan will make up for poorly performing solar panels, so to get around this we advise that you consult with our expert team at Sunstainable, to ensure that you receive a top-quality PV system that is built to last.Talk to our team to get sun powered today.