The Victorian Government is amplifying its efforts to reduce household energy costs through significant investments in renewable energy and energy efficiency programs. The 2024/25 budget allocates $37.7 million for 35,000 rebates on energy-efficient electric hot water systems and $6 million for interest-free loans on solar battery systems. These measures build upon the substantial $624 million invested since 2018, resulting in over 257,000 rooftop solar installations generating 1.7 gigawatts of power.
Heating and hot water represent more than half of household energy usage. By installing heat pump hot water systems, families can save up to $400 annually, with potential savings increasing to $1,400 when combined with rooftop solar panels. Recognizing this, the government is also investing $5.9 million to enhance the Victorian Energy Upgrades (VEU) program, encouraging the switch to electric appliances.
To assist Victorians in finding the best energy deals, the government is investing $8.7 million in the Energy Compare website. This platform provides free, independent bill comparisons, helping users save an average of $170 annually. Additionally, a $3.4 million investment in the Energy Assistance Program offers personalized support for those experiencing financial hardship, helping them navigate the energy market and access available grants and concessions.
These initiatives reflect a comprehensive approach to reducing energy costs, promoting renewable energy adoption, and supporting households in achieving greater energy efficiency. The Victorian Government's commitment aims to ease the cost of living while fostering a sustainable and energy-efficient future for its residents.
For more information on applying for rebates and finding the best energy deals, visit the Solar Victoria website.
