Existing Government Rebates
There are 6 key things you can do to electrify your home or business: Adding solar to your roof, storing this in a battery, switching your stove, hot water system and heater to an electric efficient version and swapping your petrol or diesel car for an EV.
The good news is, there are already existing government rebates available for many of these items and the 2023 Federal Budget announced more will be on the way!
☀︎ Solar Power
-
Small-Scale Technology Certificates (STC) Scheme
Who is eligible?
Australian residents & businessesWho funds it?
Federal GovernmentDetails:
STC’s certificates are awarded for installations in eligible households and can reduce costs by about one third.
The STC scheme can reduce the upfront cost of a 6.6kW system installed in 3068 by around $3,000
Installers will likely claim the STC on your behalf lowering the price of the installation.
Can also claim the Feed in Tariff.
Savings:
Roughly $400 per kW STC subsidy eg. $4000 off a 10kW system (Note this is usually already included in all solar quotes)
-
Solar Victoria PV Rebate
Who is eligible?
Victorian residentsWho funds it?
Vic GovernmentDetails:
For residents that meet Solar Vic eligibility requirements, you can claim a $1,400 rebate plus an optional $1,400 no-interest loan.
These rebates are offered to Victorians with existing homes, homes under construction, and rental properties. Eligible customers who have previously received a rebate and have moved house can apply. If your system is over ten years’ old you can also apply to replace or upgrade your system.
◎ Electric Vehicles
-
Car Fringe Benefits Tax (FBT) For Small Business
Who is eligible?
Australian businesses & employeesWho funds it?
Federal GovernmentDetails:
For employees who can purchase a car through their employer through a novated lease, no Fringe Benefit Tax will be applied for EVs under $85,000.
Novated Lease is where the car payments and costs of running your new EV (such as tyres, servicing, insurance and registration) are bundled together and deducted from your pay before tax by your employer saving you money that you would have paid in tax.
You also don’t have to pay GST, saving another 10% on vehicle costs.
Savings:
Compared with a traditional 5 year novated car lease, you could save up to $20,000 for an EV novated lease.
-
Luxury Car Tax Rate Threshold
Who is eligible?
Australian residentsWho funds it?
Federal GovernmentDetails:
Luxury Car Tax threshold has been increased.
For ‘fuel-efficient vehicles’ (any model with less than 7.0L/100km combined fuel consumption, including EVs), LCT will apply on models priced beyond $89,332.
Savings:
Buyers of certain standard vehicles which are priced above the old and new LCT thresholds will pay up to $1520 less in tax, while buyers of fuel-efficient vehicles could save up to $1324.
〰 Hot Water
-
Solar Victoria Hot Water Rebate
Who is eligible?
Victorian residentsWho funds it?
Victorian GovernmentDetails:
For all Victorian residents that meet Solar Victoria’s eligibility criteria
Choice of approved models and installers
To be processed by the installer (not all installers are registered with the scheme so check first)
Savings:
You can receive a 50% rebate on the purchase price of the system up to the value of $1000.
-
Victorian Energy Upgrades Program
Who is eligible?
Victorian residents & businessesWho funds it?
Victorian GovernmentDetails:
Via the VEU program, eligible households to replace their old water heaters with more energy-efficient models.
Choice of approved models and installers.
To be processed by the installer (not all installers are registered with the VEU scheme so check first)
Savings:
You can receive up to $900 subsidy from State government to replace an old, inefficient (gas or electric) hot water heater with an efficient hot water heat pump.
-
No Interest Loan Scheme
Who is eligible?
Australian low income residentsWho funds it?
Federal Government (administered by Good Shepherd)Details:
Good Shepherd is a government-funded charity supporting women and families. The No Interest Loans Scheme (NILS) offers individuals and families on low incomes access to safe, fair and affordable loans for purchasing appliances and some other essential household expenses.
The NILS scheme offers loans of up to $1500 for essential goods and services for people that have a health care card/pension card or earn less than $45,000 a year after tax, $60,000 after tax for joint applicants or people with children
❆ Space Heating
-
Victorian Energy Upgrades Program
Who is eligible?
Victorian residents & businessesWho funds it?
Victorian GovernmentDetails:
Via the VEU program, eligible households to replace their old water heaters with more energy-efficient models.
Choice of approved models and installers.
To be processed by the installer (not all installers are registered with the VEU scheme so check first)
Savings:
You can receive up to $10,000 subsidy from State government to replace an old, inefficient (gas or electric) heating system with an efficient reverse cycle air conditioner.
-
No Income Loan Scheme
Who is eligible?
Australian low income residents
Who funds it?
Federal Government (administered by Good Shepherd)
Details:
Good Shepherd is a government-funded charity supporting women and families. The No Interest Loans Scheme (NILS) offers individuals and families on low incomes access to safe, fair and affordable loans for purchasing appliances and some other essential household expenses.
The NILS scheme offers loans of up to $1500 for essential goods and services for people that have a health care card/pension card or earn less than $45,000 a year after tax, $60,000 after tax for joint applicants or people with children
Other things to note:
There are also a range of rebates available across Australia for help with energy bills (eg for seniors, family benefit recipients, medical support, vulnerable households). Find out more.
You can get a home energy efficiency assessment and rating for free from the Federal Government. Find out more.
In NSW Illawarra there are currently no rebates for household batteries.
Many Councils offer their own rebates and support programs for the energy and electrification so visit your local one to find if yours is
The 2023 Federal Budget announced an electrification package - we will update the details once released
Rebates listed above current as of May 2023