There are two incentives available to Victorians replacing an existing hot water system with a solar hot water system.
Small-scale Technology Certificates (STCs)
The Australian Government's Small-scale Renewable Energy Scheme (SRES) provides financial incentives to promote renewable energy. Small-scale Technology Certificates (STCs) are created when customers install a solar or heat pump hot water system. The size of the incentive depends on the value of the certificates at the time. For example, if the STC price is $35 and your installation attracts 30 STCs you could receive a discount on the installation cost of $1050.
Contact your solar hot water supplier for more information about accessing this incentive, or visit the Clean Energy Regulator website.
Victorian Energy Efficiency Certificates (VEECs)
The VEET (Victorian Energy Efficiency Target) scheme – also known as the Victorian Energy Upgrades – provides incentives to promote household energy efficiency. Certificates (VEECs) are created when households have their current electric or gas hot water system replaced with, or upgraded to, a solar hot water system. As with STCs, the size of the incentive depends on the number of certificates created and the value of the certificates at the time.
Contact your solar hot water supplier for more information about accessing this incentive please or visit the VEET website.