Solar Rebates and No-Interest Loans in NSW: Labor and Liberal Provide Energy Incentives for Voters

Earlier this week the Sydney Morning Herald reported on rebates and no-interest loans announced by Labor and Liberal governments in the lead up to the state election.

The Liberal announcement came just one day after the Labor announcement, in an obvious bid to win voters concerned about electricity prices.

Here are the key details about each solar and battery incentive in the state in the lead up to the election:

Rebates for Rooftop Solar in NSW

• The Labor party has proposed a rebate of up to $2200 for rooftop solar installations
• The scheme is available to up to 500,000 homeowners to install rooftop solar over the next decade
• Labor states these households could save an average of $600 to $1000 a year on electricity bills
• Under the scheme, households will get up to 50% of the upfront cost of solar installation paid for

Interest-Free Loans for Solar and Battery Systems in NSW

• The Liberal government is proposing interest-free loans of up to $14,000
• The scheme is available to up to 300,000 homeowners with an annual income of less than $180,000 (200,000 less than the solar rooftop rebate scheme)
• The scheme would be offered to these households over the next decade
• Under the scheme, households will pay 100% of the solar-battery installation cost, with an interest-free payment plan

Which Scheme Wins?

The Sydney Morning Herald quotes Adam Searle, Shadow Minister for Energy and Climate Change:

“They [NSW Liberal Government] are not offering the people of NSW anything that they cannot already access today… Private solar companies already offer payment plans, no upfront fees and interest-free loans”

The people of NSW are glad to see both sides taking action to reduce power bills for citizens in the state. Which scheme wins? It comes down to which scheme provides the most obvious incentive for installing solar and at this point, many critics including the Nature Conservation Council agree Labor’s rebate plan comes out on top.

Read the full report on this story on The Sydney Morning Herald.