Families in Cairns are taking advantage of the new Queensland interest free solar loans program.
Like other North Queenslanders, eligible Cairns residents can now apply for a $4,500 interest free loan from the Palaszczuk Government to help buy a new solar PV system.
Energy Minister Dr Anthony Lynham and Fire and Emergency Services Minister and Member for Barron River Craig Crawford met with Melissa from the Cairns solar systems suburb of Redlynch.
Melissa installed a 5 kW solar system. Based on her usage, she now believes she will save enough on electricity bills to cover her solar loan repayments. She will also be up to $550 better off annually.
Queensland interest free solar loans for eligible families
The solar loans program is specifically designed for Family Tax Benefit B families. It subsequently helps purchase a Queensland solar system with no out-of-pocket expenses or loan interest costs.
To be eligible, residents must also own their own home or be paying off a mortgage.
Crawford said the loans would help Cairns families who couldn’t previously afford solar to join the solar boom.
A criticism of Queensland’s impressive solar installations is that they only benefit home owners and the wealthy. Renters and those on low-incomes find it financially harder to install solar panels.
“In Cairns around 12,000 homes already have solar systems and are reaping the benefits of lower power bills,” Crawford said. “The Interest free loans for solar program offers the opportunity for more families to join them.”
10,000 Cairns families could be eligible
Meanwhile, Lynham urged Cairns residents to apply to the interest-free solar loans program.
“Approximately 10,000 families in Cairns may be eligible for this program. I strongly encourage them to consider installing a solar system with one of our interest free loans to help reduce their power bills,” he said.
The solar loans scheme follows analysis showing Queensland’s solar power potential.
The state’s wind and solar power industries are booming. However, a further 69 renewable projects may not go ahead, according to the ‘Renewable Energy across Queensland’s Regions’ report.
Queensland’s clean energy pipeline could eventually deliver 90 per cent renewable power if the government gives its full support.
Green Energy Markets produced the analysis, which was commissioned by non-profit organisation Solar Citizens.
