The Allan Labor Government is cutting the cost of installing solar for Victorian businesses and community organisations - slashing their energy bills so they can invest more into their communities, grow their businesses and create more jobs.
Minister for Energy and Resources Lily D'Ambrosio today announced the Victorian Energy Upgrades (VEU) will now offer discounts for commercial and industrial businesses and community organisations to install solar.
The VEU discount will wipe up to $25,000 off the upfront cost of installing a 100 kilowatt system and up to $34,300 off a 200 kilowatt solar system, with discounts available for systems from 30 kilowatt up to 200 kilowatts.
Businesses are also eligible for Commonwealth Government rebates on solar systems in the 30 to 200 kilowatt size range which can slash up to $50,000 off the cost. Combined with the VEU discount businesses can get up to 35 per cent off the cost of the installation.
Installing more rooftop solar helps lower energy bills for everyone, not just the business using it. With more solar power, we rely less on the grid, which means fewer costly upgrades to the electricity network and lower bills across for all Victorians.
These discounts will also be available for hospitals, local government buildings, aquatic centres, aged care facilities and factories, helping them save money on their energy bills which can be reinvested into the community.
Texas Peak, a sportswear distribution business in Tullamarine has already seen the benefits of their 100 kilowatt solar system. After investing $100,000 to install the system in 2021 they have cut their energy bills from $50,000 to $30,000, delivering a five-year payback period.
Since 2009, the VEU program has helped more than 2.4 million households and 180,000 businesses cut energy bills, reduce energy use and lower emissions.
As stated by Minister for Energy and Resources Lily D'Ambrosio
"We're making it easier for Victorian businesses to get solar, because when they save on energy, they can invest more into their communities, growing their business and creating more jobs."
"More solar helps to drive down costs for every Victorian by easing pressure on the grid."
