Solar Loan Available from the Queensland Government

POSTED ON July 5, 2018 BY

Solar loan available for some Queenslanders

Australians are starting to engage with the renewable energy conversation seriously, especially when it comes to solar.

Why wouldn’t they with the serious issue of energy poverty on the rise all across Australia?

Meanwhile, there’s an abundance of free and clean sunshine on offer. So it’s hardly surprising that many Australians are looking to the sky in hopes of a solution.

That solution might be solar.

At the moment, renewable energy accounts for only 17% of Australia’s total energy supply.

However, a new analysis by Green Energy Markets predicts that a third of Australia’s total energy supply will come from renewables by the year 2020.

That’s nearly double, and for good reason.

Solar can save you money and is something you should consider.

The Queensland government certainly thinks you should, and they unveiled an interesting new solar scheme for low-income families.

Why Solar Works

You know what receiving your power bill is like.

Every time it turns up in your mailbox you sigh and wonder how many hundreds of dollars it’s going to cost you this time.

Then you open the envelope and empty your bank account once again.

All this just to keep the lights on.

Solar is different.

Instead of paying for electricity that a big corporation dug up out of the ground, you generate your own.

This is the benefit of having some high-quality solar panels installed.

Whenever the sun is out (even in cloudy weather), the cells in your panels generate electricity.

That electricity will then be fed from the system’s inverter back into your home.

Here it will power your lights, appliances and anything else that requires electricity.

Don’t worry, if you ever require more power than your system can produce, you’ll still be connected to the grid.

However, what’s extra exciting about having solar is that any surplus energy you generate is fed back into the grid, and will appear as a credit on your power bill. 

If you are interested in this, Electricity Monster would love to hear from you.

Not only can we help you compare electricity providers, we can help you shop for a great deal on your solar feed-in. 

All and all a high-quality solar system can significantly reduce you and your family’s power bill.

And if you get a good enough system, it could even get take care of your bill altogether.

The Queensland Government’s Solar Loan Scheme

In late June of this year, Queensland Premier Annastacia Palaszczuk announced a new home solar plan.

The plan is designed with a focus on helping families on the benefit. The Queensland government will grant a $4500 loan, with some conditions.

To qualify you must:

  • Be receiving Family Tax Benefit B.
  • Have electricity costs over $1000 across six months or $2000 across a year.
  • Meet credit and loan assessment requirements set by the Queensland Rural and Industry Development Authority
  • Choose one of the government’s approved providers.
  • And have the system installed within 6 months.

The loan must be paid back within 7 years but is completely interest-free.

There are a couple of downsides though.

Only 3500 packages will be availableand a 5-6kW system required to offset the majority of a QLD home electricity bill, in this price range might not be of the highest quality.

A low-quality setup could deteriorate over time, leading to inefficient electricity generation and might end up costing you the money you’re trying to save.

Electricity Monster Can Help You With Solar Too!

Let’s say you don’t qualify for Queensland’s new scheme but still require a system on a payment plan, or what if you’re looking for a larger or better quality system than the government funding allows for?

What are you to do?

Time to call Electricity Monster on 1300 232 848. Or just fill in the form below

* We do not compare all energy providers

Any questions you’ve got about the upcoming Queensland government scheme or any solar offers we have in the pipeline, we’d be happy to answer! 

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* We do not compare all energy providers