We Can Help You Get Interest Free Loans for Solar
Applications for Interest Free Loans for Solar are now open
We’re an approved installer for the Queensland Government Interest Free Loans for Solar program and have put together this guide to help you understand who it is designed for and how to apply
What is the Interest Free Loans for Solar Program?
Eligible Queensland households can now apply for an interest free solar loan
Helping More Families to Access Solar
The Interest-Free Loans for Solar ( IFLSS ) program has been created for households that couldn’t normally afford the upfront cost of solar. The program has been rolled out as part of the Queensland Government’s Affordable Energy Plan, which is a commitment to making electricity more affordable.
Under the scheme loans of up to $4500 can be repaid with zero interest over a loan period of up to 7 years.
Incredibly, for some households, this will make their solar installations cashflow positive from the second electricity bill forward ( the first bill will include additional costs for an electricity meter upgrade from their energy retailer )
The scheme is being administered by the Queensland Rural and Industry Development Authority ( QRIDA ) who will give approval of solar loan applications within 15 days of receiving the correct paperwork
Eligibility for the Queensland Government Interest Free Loans for Solar program
The program is for residential households only so you must be a homeowner ( or mortgagee ) of a Queensland premises that you live in.
Applicants need to be Australian citizens or permanent residents of Australia
You must be able to demonstrate that you can repay the loan ( approximately $12.50 per week ) and that your electricity bills have been $500 or more per quarter for the past 6 months at least ( or $2000 over the past 12 months )
At least one of the applicants must be receiving Family Tax Benefit B
You must use an eligible solar supplier ( that’s us )
You can’t be the recipient of a solar loan already and the system cannot be installed prior to the loan being approved by the QRIDA
About Family Tax Benefit Part B
You qualify for Family Tax Benefit part B if you’re a single parent or non-parent carer, a grandparent carer, or if you’re a member of a couple with 1 main income.
You must also meet income and residency requirements
Eligible Relationships / Income
Single parent or carer family
You won’t be eligible for FTB Part B if your annual adjusted taxable income is more than $100,000.
If your income is $100,000 or less, you can receive the maximum rate of FTB Part B.
Two parents or carers family
You won’t be eligible for FTB Part B if the primary earner earns more than $100,000.
We call the parent or carer with the lower income the secondary earner. We use their income to work out how much FTB B you can receive.
They can earn up to $5,548 each year before it affects your FTB Part B payment.
Your payments will reduce by 20 cents for each dollar of income earned over $5,548.
If you’re the secondary earner and your partner earns $100,000 or less, you can still receive some FTB Part B if your income is below:
- $27,613 a year, if your youngest child is younger than 5 years of age, or
- $21, 499 year, if your youngest child is 5 to 18 years of age
Two parent or carer families can only receive FTB Part B if the youngest child is 12 or younger, unless they are a grandparent carer.
You can’t receive FTB Part B while you’re receiving Parental Leave Pay.
If you receive FTB Part B fortnightly, we’ll automatically adjust your payments to make sure we don’t pay you too much FTB Part B.
Member of a couple
Under social security and family assistance law, you’re considered a member of a couple if you and the person you have a relationship with are:
- married
- in a registered relationship, or
- in a de facto relationship
You’re not considered a member of a couple if you and the person are living separately and apart on a permanent or indefinite basis.
You may still be a member of a couple if you’re not physically living with your partner. For example, your partner may fly-in fly-out or live away for work, such as military or oil rig workers.
- you’re a member of a couple with 1 main income and care for a dependent child aged under 13, or
- you’re a single parent or non-parent carer, or a grandparent carer and care for a dependent child aged under 18. The child must meet study requirements if they’re aged 16 to 18
You must also:
- meet an income test
- meet residence requirements, and
- care for the child at least 35% of the time
You or your partner can’t receive FTB Part B while receiving Parental Leave Pay.
Study requirements
Children 16 to 18 meet the study requirements if they:
- are in full time secondary study in an approved course leading towards a year 12 or equivalent qualification
- have an acceptable study load, or
- have been granted an exemption from us
Other support
There is extra support available if you’re caring for your grandchildren. Read more about support for grandparent carers.
Australian Residency Definitions
Australian resident
You are an Australian resident if you live in Australia and are either:
- an Australian citizen
- a permanent residence visa holder, or
- a protected Special Category visa (SCV) holder
Permanent residence visa holder
A permanent residence visa allows you to stay in Australia indefinitely. The Department of Home Affairs issue and administer all Australian visas.
Special Category visa (SCV) holder
Australia’s immigration authorities generally issue you with a SCV if you arrive in Australia on a New Zealand passport. They usually issue this upon your arrival. The type of SCV you get depends on when you arrived in Australia.
Source: https://www.humanservices.gov.au/individuals/enablers/residence-descriptions
The Process of Getting an IFLSS
The process of applying and being approved for an interest free solar loan is simple enough, but it requires a fair bit of documentation.
Step 1
Get a quote from UV Power ( we’re an eligible solar supplier )
Step 2
Compile the following paperwork:
- most recent council rates notice for the residential property on which the eligible solar PV system is to be installed
- 6 or 12 months of electricity bills
- Centrelink income statement confirming Family Tax Benefit B
- Proof of Income
- for employed people = 2 x most recent pay slips
- for self employed = 2 x most recent tax returns
- for self funded retirees – annual super statement
- for pensioners / govt assistance recipients = Centrelink payment summary
Step 3
We will assist you to submit your application
Step 4
Wait up to 15 days for Approval
Step 5
Successful applicants will receive a solar loan pre-approval loan certificate. At that stage you’ll need to book a time with us to install your solar PV system – which we will do ASAP
Step 6
After installation of the system,the following documents must be completed and returned to QRIDA:
(a) Loan Letter of Offer;
(b) Direct Debit Request;
(c) Direct Debit Agreement; and
(d) Authority to Pay.
You will also need to send them our final invoice ( which will match the quoted amount )
Step 7
Enjoy your new solar savings!
Get Started with Your Application
UV power is one of only 15 companies approved throughout South East Queensland to install solar systems under the IFLSS program
Get started today by filling out the form to the right and we will get in touch to answer any questions and / or make a time to give you a quote
Since our establishment UV power has worked with over 3000 residential and commercial customers to provide uniquely tailored solar solutions that fit their energy needs and budget.
Our focus on complete energy management solutions is what sets us apart from a majority of Brisbane solar companies in the current market.
We live by a code of ethics and only use quality products, experienced installers and guarantee service and workmanship that will last.
Get in touch with UV Power to begin your journey to reduce your energy costs and run your home or commercial building as efficiently as possible.
