In Canberra efforts are being made to make solar energy more accessible and affordable for residents living in multi-unit apartments. With new funding from both the Commonwealth and ACT Government, a total of $3.6 million has been allocated to incentivize the installation of shared rooftop solar systems.
The primary beneficiaries of this initiative will be apartment tenants and neighboring residents who will enjoy the benefits of cheaper and cleaner energy. It is estimated that around 2,100 households will be positively impacted by this program, potentially leading to a substantial 35% reduction in their electricity bills. This is certainly welcome news, considering that apartment dwellers often face barriers to adopting solar energy due to the shared nature of their buildings.
Under this funding scheme, multi-dwelling body corporates will have the opportunity to access financial support for installing rooftop solar systems. They will be eligible for up to $100,000, with half of the funds coming from a Commonwealth rebate or grant through the Solar Banks initiative and the other half provided as an interest-free loan from the ACT Government as part of the Sustainable Household Scheme. This dual support system aims to make solar installations economically viable and attractive to body corporates, ultimately benefiting the apartment residents.
The new incentives for rooftop solar installations on apartments are part of a broader $80 million injection into the Sustainable Household Scheme as outlined in the ACT budget for the 2023-24 fiscal year. This commitment reflects the government’s commitment to sustainability and renewable energy, specifically targeting renters and apartment owners who have historically faced challenges in accessing solar power.
Importantly, the Commonwealth funding is not limited to Canberra alone but is part of a national effort to promote shared solar initiatives across Australia. The overall budget for shared solar stands at $101 million, emphasizing the significance and scale of this commitment to easing energy bills for over 25,000 households throughout the country. Additionally, the Federal Budget for 2023-24 has allocated more than $1.7 billion to support energy-saving upgrades in homes, businesses, social housing, and local governments.
To ensure alignment with the eligibility criteria of the Sustainable Household Scheme, the program’s application process will be structured similarly to that of solar eligibility for households. The scheme currently covers 92% of apartments, indicating that a vast majority of multi-unit dwellings will have the opportunity to benefit from this funding and install solar systems.
In conclusion, this funding announcement represents a significant step forward in the adoption of solar energy in Canberra’s multi-unit apartment buildings. By making rooftop solar installations more financially feasible, the initiative aims to extend the benefits of cleaner and more affordable energy to a wider range of residents, addressing the previous limitations faced by renters and apartment owners. This commitment from both the Commonwealth and ACT Government reflects a broader national focus on renewable energy and energy efficiency, with substantial investments being made to support the transition towards a sustainable future.
For more please see: www.climatechoicesact.gov.au
