Australia is taking a major step towards all-electric homes with a new initiative to help households invest in renewable technologies and reduce energy costs.
The Residential Electrification Grants program will fund projects aimed at converting homes to all-electric systems, reducing reliance on expensive fossil gas and cutting energy bills by around $1,400 a year, or up to $2,700 with the addition of solar panels.
More than $4 million has been allocated to seven approved vendors to provide rebates for 1,875 solar installations and 1,545 hot water systems, making these technologies more affordable.
This initiative supports a wide range of households, including first home buyers, aged care residents and vulnerable groups, while also supporting local manufacturing and job creation.
According to recent research by Solar Victoria, 69% of respondents are interested in or considering switching to an all-electric home, with 13% having already made the switch with the help of rebates and loans.
Since 2018, Solar Victoria has facilitated more than 350,000 rebates and loans for solar panels, energy efficient hot water systems and solar battery systems.
For more information on the Residential Electrification Grants program, visit solar.vic.gov.au/electrification-grants.