5 steps to solar success through rebates and upgrade finance

Get in quick! Solar Victoria has $3,500 rebates for small businesses looking to install solar, however there’s only a limited number available.  

Here we break down what you need to do to apply for the rebate and give our top tips on getting your solar system up and running with minimal out-of-pocket costs to your business. This way, you can get your system installed sooner and begin saving money on your electricity bills.   

Follow these five steps and get started today! 

Step 1: Check you’re eligible

Does your business operate from premises that are non-residential? Do you employ between 1 and 20 people? Have you previously received a Solar Victoria rebate? There are some criteria your business must meet to be eligible for the rebate, so ensure you check before you apply.  

You can check out Solar Victoria’s full list of eligibility criteria here as well as the process of applying for the rebate.  

What if your project or business doesn’t meet the Solar Victoria eligibility criteria? 

You might not be eligible for a rebate, but you can still install solar and see massive savings off your energy bills. Environmental Upgrade Finance can be used for solar and building upgrades up to $20 million, and with $0 up front you’ll be pocketing the savings from day one.  

You can read more about Environmental Upgrade Finance here. 

Step 2: Get your quotes ready

To apply for the rebate you’ll need a Solar Victoria approved retailer to provide you with a quote. 

Here are some tips on getting the best result from your solar quotes: 

  • Solar Victoria has some great resources on selecting the right system for your business, which you can find on their website
  • You can find some of our trusted commercial installation partners here who will help you with an initial quote 
  • Check if the solar retailer you’re getting a quote from is registered with Solar Victoria here 
  • Don’t be afraid to get multiple quotes from different solar installers to compare advice and price 
  • Ensure the products quoted are on the approved product list here 

If you’re thinking about applying for Environmental Upgrade Finance for your portion of costs, you’ll need your solar quote on hand to upload as part of the application process.  

Step 3: Figure out how you’ll finance the rest

The Solar for Business rebate covers up to 50% of the cost of the system, up to a maximum of $3,500. Your business will need to cover the rest of the costs. You might consider paying cash, getting a small business loan, or looking into a chattel mortgage.  

If your business is eligible, Environmental Upgrade Finance (EUF) can be an easy way of securing finance without requiring any up-front cash or capital. Loans are tied to the building, not the owner, and it’s the only type of loan that will finance 100% of the hard and soft costs associated with installing solar.  

Long terms (up to 20 years) mean EUF loans are cashflow positive from the first year. That means your savings are higher than your repayments, and you get to pocket the difference.  

Environmental Upgrade Finance has a different set of eligibility criteria than the Solar Victoria rebate. You can see if you’re eligible here. There is also a minimum finance amount of $5,000.  

If you have questions or are interested in learning more you can register your interest for Environmental Upgrade Finance here

Step 4: Apply for finance

If you do decide to fund your portion of costs using Environmental Upgrade Finance, you’ll need to apply using our easy application portal.  

Before you apply, ensure you have the following documents ready: 

  • Details about the upgrade project and the business that is pursuing the project 
  • Property ownership information, including ABN/ACN if applicable, and authorised signatories 
  • Information about existing mortgages, loans or leases that are secured against the property 
  • Project proposal (from the contractor or installer) 
  • Council rates notice 
  • Copy of the property owner’s/Company Director’s (authorized signatories) ID 

If the loan amount is less than $50,000, we don’t require business financials to process the application.  

You can access our online application portal here. 

Step 5: You’re ready to go!

Once you’ve sorted your finance and you’ve chosen your preferred installer, you’ll be ready to get started. 

Solar Victoria has instructions on next steps to apply for the rebate on their website. Simply follow these instructions or contact Solar Victoria if you have any question.  

If you’ve submitted your application for Environmental Upgrade Finance with us along with all required documents then one of our team members will be in touch to confirm your project and finance amount.  

Still have questions about Environmental Upgrade Finance?

We will be running regular 30 minute webinars to answer questions about Environmental Upgrade Finance and the application process.  

Webinars will be held: 

  • Thursday at 9:00am (AEST) 
  • Tuesday at 3:00pm (AEST) 

Simply submit an expression of interest form and we will send you details of how to attend.  

 

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      Now Available

      $3,500 SOLAR FOR BUSINESS REBATE
      The Solar for Business Program is now live! You can cover additional costs to install solar using our finance.

      Register your interest for Environmental Upgrade Finance below, and we will be in touch to discuss your project. Limited grants are available, so apply today to ensure you don't miss out!