The Albanese Government has announced a $25 million initiative designed to reduce energy costs for apartment residents in NSW.
The Solar for Apartment Residents program offers financial support to install shared rooftop solar systems, providing cost relief and environmental benefits to apartment residents.
Program Overview
| Eligibility | Owners corporations or strata managers of apartment buildings with 3 to 55 units that have not installed solar systems within the past 10 years. |
| Funding Allocation | The program provides up to 50 per cent of the installation costs, capped at $150,000 per project. |
| Application Dates | Open until December 1 2025 or until the $25 million funding pool is fully allocated. |
| Projected Savings | Apartment residents could save up to $600 annually on energy costs. |
Key Benefits
1. Cost-of-living relief
Apartment residents can save up to $600 each year on their energy bills with the program. Using solar energy helps lower electricity costs, reducing the need for expensive power from the grid and offering long-term savings for residents.
2. Boost to Sustainability
Switching to solar energy cuts down on carbon emissions, making apartment buildings more environmentally friendly. This initiative contributes to a cleaner, greener environment and supports efforts to reduce NSW’s reliance on fossil fuels.
3.Financial Assistance for Installation
The program covers up to 50 per cent of the installation costs for solar systems, with a maximum of $150,000 per project. This financial support reduces the upfront cost, making solar energy a more affordable option for apartment buildings looking to make the switch.
Steps to Participate
1. Check the Program Overview table above to see if your apartment building meets the program’s criteria, including whether it has 3-55 units and whether you have installed solar within the last 10 years.
2. Work with the owners corporation to evaluate the feasibility of installing shared rooftop solar systems and prepare the necessary documents.
3. Submit your application through the NSW Government website here. Applications for the Solar for Apartment Residents program are open until December 1 2025 or until funds are fully allocated. Act now to seize this opportunity to improve sustainability and lower energy costs.
