The NSW and Victorian state governments are offering grants for solar installations on strata buildings. This could be a game-changer for strata owners and residents, who are often left behind when it comes to the benefits of solar energy.
The Smarter Communities sustainability team has already secured more than $2,500,000 in solar grants for owners corporations, with more applications in the pipeline.
Solar Banks Victoria
In Victoria, the state government is offering grants of up to $2,800 per apartment, with a maximum of $140,000 per property.
Dan Thompson, the Smarter Communities National Sustainability Manager, says the grants represents up to 70% of the cost of solar photovoltaic system (PV) installation in Victoria.
To be eligible, the following applies:
- They must be strata dwellings with a common property rooftop.
- The building must be no more than eight storeys high and have between 5 to 50 lots.
- A shared solar PV system must not have been installed on the property within the last 10 years.
- The owners corporation must be able to demonstrate that the system will pay itself back within 10 years.
The grants do not apply to retirement villages, commercial buildings, community housing associations, educational institutions, or government-owned properties.
Solar Banks NSW
In NSW, the scheme will deliver rebates of up to 50% of rooftop solar installation costs for multi-unit dwellings. It will apply to properties with at least three lots. While the government is yet to release full details of the scheme, it is likely to have to the same funding criteria as the Victorian program.
NSW Energy Minister, Penny Sharpe, says that the Solar Banks Program will support over 10,000 apartment tenants, who traditionally have been “locked out of owning solar”.
Benefits for residents and owners
For residents, solar panels can shave hundreds of dollars off electricity bills each year and reduce their reliance on fluctuating energy prices. It also gives residents interested in sustainability the opportunity to access solar PV and reduce their emissions.
Owners can benefit from a shared solar installation in a number of ways, even if they are not residing in the property. These include:
- Reduced energy costs for common areas, and in turn, lower strata operating costs
- Improved building sustainability
- Higher property values
- Greater property appeal
- The potential for higher rental yields
- Ability to attract and retain quality tenants more easily
The advantage of being a Smarter Communities customer
Smarter Communities is the only strata company with a dedicated sustainability team. By aligning our company goals with our clients aspirations, we are able to reduce energy costs for residents and OCs by installing innovative solar solutions into strata buildings.
In addition to solar, we also help with committees with installing EV charging solutions and upgrading the buildings electrical infrastructure.
Our expertise in strata, financial solutions and a dedication to sustainability, allows us to provide a turnkey solution for committees. Such a diverse blend of professional services is not generally the norm when it comes to property management companies.
Dan says the government apartment solar schemes align well with the company’s ethos.
“We are proud to be at the forefront of sustainability in strata, helping to reduce building costs and improve carbon footprints for our customers,” he says.
To learn more about multi-dwelling solar installations and how the sustainability team can assist owners corporations in applying for grants contact the team here. To discuss your property’s strata management needs or receive a FREE management proposal contact our friendly team. We also offer more helpful resources and community living news in our FREE newsletter.
