Discover the most recent solar rebates and incentives available in Victoria and how to access them for solar panels, batteries and hot water systems.
Solar Power
How much do you save with solar panels and batteries?
The cost of a solar system has decreased significantly in the past decade. At the same time, electricity bills are on the rise.
With rebates also available in Victoria, how much do solar panels and batteries cost, and how much could they save you? This guide provides an overview to help you decide what's right for your household.
Wondering how to get more from solar?
How do solar batteries work and are they worth it?
Do solar batteries work in a blackout?
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Solar panel and battery costs and savings
How much do solar panels cost?
Solar panel systems can range in price from around $3,000 to more than $20,000 for a large, premium-quality solar system.
The exact price of a system will depend on how many solar panels you get, the quality and brands used, the structure of your home and your eligibility for a solar rebate.
A good example is a 6.6kW solar system (around 15 panels), which is a common size for an average household of around of 3-5 people. These systems often start from around $5,000, however prices can vary depending on your installer. For example, RACV Solar offers 6.6kW solar systems from $3,560*.
Solar panels range in price from around $3,000 to more than $20,000. Image: Matt Harvey
How much does a solar battery cost?
Depending on the size and quality of your battery, you can expect to pay around $1,000 - $1,200 per kWh of storage.
So, for example, a 13kWh battery might cost around $15,600 ($1,200 x 13 = $15,600).
How much are solar rebates in Victoria?
The Victorian government offers solar rebates and interest free loans to help reduce the upfront cost of solar panel and battery installations.
For solar panels, rebates of up to $1,400 are available along with interest-free loans to the same value for eligible households.
There are no rebates available for batteries, however eligible households can access an interest-free loan of up to $8,800 for a battery system.
How much could solar save me?
Depending on how much electricity you use and the size of your solar system, solar panels can reduce a household’s energy bill by more than a thousand dollars a year. For example, RACV Solar estimates a 6.6kW solar system can save around $1,200 a year on electricity bills.^
A solar battery costs around $1,000-1,200 per kWh of storage. Image: Matt Harvey
What is the payback period for a solar system?
The payback period for a solar system refers to the time it takes for the savings generated to equal the initial cost of the system. This will vary between households depending on the cost of their solar system and the amount of electricity they use.
On average, for a solar panel system, the payback period can be around 3-7 years. For batteries, it’s a little longer – around 7-15 years.
*Price is valid as at February 2025 and is inclusive of GST, federal Small-scale Technology Certificates (STCs), and the Solar Victoria solar panel rebate.
^Indicative Pricing: Calculations are based on the following conditions: single-storey properties, single-phase electrical systems, tin roofing, grid electricity rate estimate $0.30, Feed in Tariff $0.03, installations without split arrays, and no requirement for additional works such as switchboard upgrades. Prices are inclusive of GST, federal Small-scale Technology Certificates (STCs), and the Solar Victoria solar panel rebate, which is valued at $1,400 for solar panel systems. Eligibility criteria apply for the Solar Victoria rebate. For advice tailored to your specific needs please get in touch for a tailored quote.
