How to finance your solar system: We round up all the incentives on offer when installing solar for your business

In a recent news post we outlined the many advantages that businesses stand to gain from installing solar panels. Despite these, the upfront cost of solar installation can be a barrier. Knowing what financial support is available to you, in the form of government rebates, grants and incentives, can make a big difference to its feasibility. Here, we round up the federal and state programs designed to make solar more affordable for your business. 

Australia-wide support

The Small-scale Renewable Energy Scheme is a nationwide initiative to encourage small businesses to install small-scale renewable energy systems including solar panel systems. Businesses participating in the scheme are then granted small-scale technology (STC) certificates which can be sold to Renewable Energy Target-liable entities, offsetting the initial cost of installation. The value of these certificates is determined by the STC market, or they can be sold through the STC clearing house for $40 each. Learn more about the scheme here.

For financing, the Clean Energy Financial Corporation (CEFC) provides support across Australia. The corporation specialises in the financing of renewable energy projects and offers low-interest loans along with a range of other financing options to make the prospect of solar panel installation more accessible and affordable.

In addition to the federal programs, there may be additional state government support available to you depending on what state you’re in:

Victoria 

The Victorian government’s Solar for Business Program was created to support Victorian businesses by helping them reduce their energy costs through the use of solar panels. The initiative was designed to reduce the upfront cost of approved small-scale solar PV systems with up to 30kW inverter capacity. Eligible businesses can apply for a rebate of $3,500 to install a solar panel system, with the option to take advantage of an interest-free loan up to $5,000.

Learn more about the program and its eligibility requirements here.

South Australia 

The Sustainability Incentives Scheme offers incentives for the installation of residential, business and commercial solar PV. Depending on the size of the system, small- to medium-sized businesses can be granted up to $2,500 to offset the cost of their solar PV system with a range of alternative rebate options available for organisations, non-profits, and more.

The scheme also provides incentives for battery energy storage systems (BESS), energy monitoring systems, shared solar systems in multi-storey premises and energy smart buildings. These rebates are offered in the interest of cutting installation costs, increasing property value, and supporting state sustainability objectives. 

Find out more about your eligibility and the rebates available to you here. 

Northern Territory

Businesses in the Northern Territory can apply for a grant through the Home and Business Battery Scheme to financially support their solar projects. The grant provides eligible homeowners and businesses with $450 of support per kilowatt hour of usable battery system capacity with a maximum available grant of $6,000. The grant is only available for battery installation, and can be used to assist financially during installation of solar PV panels and inverters only if a battery is also being installed.

Learn more about the battery scheme here.

Australian Capital Territory

Similar to the Home and Business Battery Scheme, businesses operating in the Australian Capital Territory can apply for a grant to assist with battery installation costs. The battery must be from an approved supplier and executed with the help of specified suppliers. 

Learn more about their battery scheme here.

How do I find support for my business?

Australia strongly supports the move to renewable energy and offers a wide range of rebates, grants and incentives. With eligibility changing across business size, location and structure, it becomes difficult to capture a comprehensive overview of the incentives available. This article is designed to be informative, but not exhaustive. You can check your eligibility across government grants using the governments grants and programs finder tool to access schemes which may be more beneficial or specific to your industry and size. 

TITLE: How to finance your solar system: We round up all the incentives on offer when installing solar for your business

In a recent news post we outlined the many advantages that businesses stand to gain from installing solar panels. Despite these, the upfront cost of solar installation can be a barrier. Knowing what financial support is available to you, in the form of government rebates, grants and incentives, can make a big difference to its feasibility. Here, we round up the federal and state programs designed to make solar more affordable for your business. 

Australia-wide support

The Small-scale Renewable Energy Scheme is a nationwide initiative to encourage small businesses to install small-scale renewable energy systems including solar panel systems. Businesses participating in the scheme are then granted small-scale technology (STC) certificates which can be sold to Renewable Energy Target-liable entities, offsetting the initial cost of installation. The value of these certificates is determined by the STC market, or they can be sold through the STC clearing house for $40 each. Learn more about the scheme here.

For financing, the Clean Energy Financial Corporation (CEFC) provides support across Australia. The corporation specialises in the financing of renewable energy projects and offers low-interest loans along with a range of other financing options to make the prospect of solar panel installation more accessible and affordable.

In addition to the federal programs, there may be additional state government support available to you depending on what state you’re in:

Victoria 

The Victorian government’s Solar for Business Program was created to support Victorian businesses by helping them reduce their energy costs through the use of solar panels. The initiative was designed to reduce the upfront cost of approved small-scale solar PV systems with up to 30kW inverter capacity. Eligible businesses can apply for a rebate of $3,500 to install a solar panel system, with the option to take advantage of an interest-free loan up to $5,000.

Learn more about the program and its eligibility requirements here.

South Australia 

The Sustainability Incentives Scheme offers incentives for the installation of residential, business and commercial solar PV. Depending on the size of the system, small- to medium-sized businesses can be granted up to $2,500 to offset the cost of their solar PV system with a range of alternative rebate options available for organisations, non-profits, and more.

The scheme also provides incentives for battery energy storage systems (BESS), energy monitoring systems, shared solar systems in multi-storey premises and energy smart buildings. These rebates are offered in the interest of cutting installation costs, increasing property value, and supporting state sustainability objectives. 

Find out more about your eligibility and the rebates available to you here. 

Northern Territory

Businesses in the Northern Territory can apply for a grant through the Home and Business Battery Scheme to financially support their solar projects. The grant provides eligible homeowners and businesses with $450 of support per kilowatt hour of usable battery system capacity with a maximum available grant of $6,000. The grant is only available for battery installation, and can be used to assist financially during installation of solar PV panels and inverters only if a battery is also being installed.

Learn more about the battery scheme here.

Australian Capital Territory

Similar to the Home and Business Battery Scheme, businesses operating in the Australian Capital Territory can apply for a grant to assist with battery installation costs. The battery must be from an approved supplier and executed with the help of specified suppliers. 

Learn more about their battery scheme here.

How do I find support for my business?

Australia strongly supports the move to renewable energy and offers a wide range of rebates, grants and incentives. With eligibility changing across business size, location and structure, it becomes difficult to capture a comprehensive overview of the incentives available. This article is designed to be informative, but not exhaustive. You can check your eligibility across government grants using the governments grants and programs finder tool to access schemes which may be more beneficial or specific to your industry and size.