The Victorian government’s Solar Homes program has reached new heights in 2024, helping Victorian families save a staggering $1 billion on the installation of solar panels, energy-efficient heat pumps, and batteries.
This initiative has resulted in hundreds of millions of dollars in annual energy bill savings for households across the state.
VIC Minister for Energy and Resources Lily D’Ambrosio announced that 2024 was a record-breaking year for the Solar Homes program, with over 78,000 solar panels, hot water systems, and batteries installed — the highest number in a single year since the program’s inception.
The impact on family budgets has been significant, with households saving an average of $1,000 annually on energy bills through solar power alone.
When combined with a hot water heat pump, savings can reach up to $1,400 per year, or at least $1,600 with the addition of a battery.
The program has now facilitated the installation of more than 300,000 solar panels, generating over 2,100 megawatts of solar power from Victorian rooftops.
This capacity is equivalent to that of Loy Yang A, one of Victoria’s largest coal-fired power stations.
A notable surge in energy-efficient hot water system installations was also observed, with more than 31,000 units installed in 2024 — a 151 per cent increase from the previous year.
The uptake of solar has been particularly strong in Melbourne’s outer suburbs, with Tarneit, Craigieburn, Point Cook, Clyde North, and Truganina leading in solar rebate applications.
In regional Victoria, Mildura tops the list, followed by Shepparton, Wangaratta, Traralgon, and Wodonga.
To further incentivise adoption, eligible households can access a $1,400 rebate for solar panel installation, an additional $1,400 interest-free loan, and up to $1,000 for replacing their hot water system – reducing upfront installation costs by $3,800.
The success of the program is evident in the fact that 30 per cent of Victorian homes now have solar installed, more than double the number when the Solar Homes program began in 2018.
Minister D’Ambrosio emphasised the program’s impact, stating: “We’re helping busy families slash their energy bills by making it cheaper to install solar, so they can power their homes with free electricity from the sun and slash $1,000 off their bill each and every year.”
The widespread adoption of solar in Victoria has had a broader economic impact, with Minister D’Ambrosio noting: “The huge uptake of solar in Victoria has helped push daytime wholesale prices to historic lows — meaning lower power bills for everyone.”
As the Solar Homes program continues to grow, it is clear that Victoria is making significant strides towards a more sustainable and cost-effective energy future for its residents.
