Solar Homes Program loan terms and conditions

Approved June 2024.

  1. Definitions

    In this Loan Contract:

    Acknowledgements means the acknowledgements in Part B of this document.

    Applicant or you means the person who applies for a Solar Homes Loan.

    Approved Solar Retailer means a company who is a signatory to the Clean Energy Council Retailer Code of Conduct (unless otherwise exempt) and has successfully registered to participate in the Solar Homes Program, as published on Solar Victoria’s website from time to time.

    Availability Period has the meaning given to it in the Key Terms.

    Business Day means a day that is not a Saturday, Sunday or public holiday in Victoria.

    Certificate of Electrical Safety means a Certificate of Electrical Safety issued under the Electricity Safety Act 1998 (Vic) and Electricity Safety (Installations) Regulations 2009 (Vic) for the supply and installation of the Solar System.

    Costs includes costs, charges, expenses and fees, including fees, costs, charges and expenses for legal and other advisers (on a full indemnity basis).

    Default Rate means the default rate specified in the Key Terms.

    DEECA means the Crown in the right of the State of Victoria acting through the Department of Energy, Environment and Climate Action or its successor.

    Direct Debit Form means a direct debit request, direct debit agreement or authority to pay document in favour of the Payment Agent in a form published by DEECA from time to time.

    Eligibility Criteria means the criteria which a person is required to satisfy in order to be eligible for the Solar Homes Loan, as published at www.solar.vic.gov.au (and as varied by DEECA in its absolute discretion from time to time).

    Event of Default means any event or circumstance specified in clause 9.1.

    Key Terms means the key terms set out in Part A of this document.

    Agreement between Rental Provider and Renter means, in relation to loans where the Applicant is a Rental Provider, the agreement between the Rental Provider and the Renter of the Nominated Property, in relation to the installation and maintenance of the Solar System at the Nominated Property and the basis on which the Renter will reimburse the Applicant for a portion of the Loan Amount.

    Loan Amount means the lesser of:

    1. the loan amount specified in the Key Terms; and
    2. 50% of the Supply and Installation Cost of the Solar System.

    Loan Contract means:

    1. the Key Terms;
    2. the Acknowledgements; and
    3. the Solar Homes Loan Terms.

    Loan End Date means the loan end date specified in the Key Terms.

    Loan Period means the loan period specified in the Key Terms.

    Loan Start Date means the loan start date specified in the Key Terms.

    Loss means any loss, damage, Cost, expense, claim, charge, liability, suit, action, penalty, compensation, fine or outgoing suffered, paid or incurred.

    Money Owing means all money and amounts (in any currency) that the Applicant is or may become liable at any time (presently, prospectively or contingently, whether alone or not and in any capacity) to pay or repay to or for the account of DEECA (whether alone or not and in any capacity) under or in connection with the Solar Homes Program. It includes money and amounts:

    1. in the nature of principal, default interest and any expenses;
    2. whether arising or contemplated before or after the date of the Loan Contract or as a result of the assignment (with or without the Applicant’s consent) of any debt or liability; and
    3. which a person would be liable to pay but for a bankruptcy, insolvency or similar proceeding in respect of that person.

    Nominated Property means the residential property owned by the Applicant and on which the Solar System is to be installed, specified in the Key Terms.

    Notice means a notice, request, demand, consent, approval, waiver or other communication in connection with the Loan Contract.

    Payment Agent means State Trustees Limited (ACN 064 593 148) of 1 McNab Avenue, Footscray Victoria.

    Settlement Date means the date on which the Applicant is no longer the registered owner of the Nominated Property.

    Solar Homes Loan means an interest free loan provided by DEECA to the Applicant under the Solar Homes Program.

    Solar Homes Program means the Victorian Government program administered by Solar Victoria that involves the provision of discretionary financial benefits (such as rebates, subsidies and/ or loans) for the purpose of supporting the uptake and accessibility of solar energy products including solar panels, solar hot water systems and solar batteries.

    Solar Homes Loan Terms means the terms and conditions set out in Part C of this document, as varied from time to time.

    Solar System means a solar photovoltaic system and any associated equipment included in the Solar Victoria list of approved products, as varied from time to time and published at www.solar.vic.gov.au.

    STC Assignment Form means the small-scale technology certificate assignment form.

    Supply and Installation Cost means the cost of supply and/or installation of a Solar System by an Approved Solar Retailer at the Nominated Property for the Applicant less any discounts.

    Tax Invoice has the meaning given to that term in A New Tax System (Goods and Services Tax) Act 1999 (Cth).

    Taxes means any taxes, rates, levy, impost, duties or other charges assessed or payable to any government authority and includes any additional taxes, interests, penalties, charges, fees or other amounts imposed in relation to a failure to file a return or to pay the tax.

  2. Purpose

    The Applicant may only use the Solar Homes Loan for the purpose specified in the Key Terms.

  3. Conditions to Loan Amount

    DEECA is not required to provide the Loan Amount, unless DEECA is satisfied that

    1. (receipt of documents) it has received the following items in form and substance satisfactory to it:
      1. (Direct Debit Form) a completed Direct Debit Form;

      2. (information from Approved Solar Retailer) all relevant documents relating to the supply and installation of a Solar System at the Nominated Property from the Approved Solar Retailer including:

        A. a Tax Invoice; and
        B. a Certificate of Electrical Safety; and
        C. STC Assignment Form;

      3. (net benefit position): confirmation of positive net benefit position for the Applicant provided under the Approved Solar Retailer statement;
      4. (other information) all other information and documents requested by DEECA in connection with the Solar Homes Loan;

      5. (residential rental agreement) if the Applicant enters this Loan Contract in the capacity as Rental provider for the Nominated Property:

        A. a Agreement between Rental Provider and Renter; and
        B. a copy of the fully executed residential rental agreement with respect to the Nominated Property between the Applicant and the Renter.

    2. (within Availability Period) DEECA is satisfied that the date on which all conditions are satisfied is during the Availability Period
    3. (representations and warranties) the representations and warranties are correct and not misleading;
    4. (no Event of Default) no Event of Default subsists; and
    5. (Renter(s)) if the Nominated Property is rented, procure that the Agreement between Rental Provider and Renter is signed prior to entering this agreement.

  4. Provision of Loan Amount

    Following satisfaction of the conditions in clause 3, DEECA will advance the Loan Amount to the Applicant by depositing the amount directly into the bank account of the Approved Solar Retailer who completed the supply and installation of the Solar System at the Nominated Property.

  5. Prepayment and repayment

    5.1 Repayment

    The Applicant must repay the Money Owing in accordance with the loan repayment schedule set out in the Key Terms.

    5.2 Early prepayment

    1. The Applicant must prepay the Money Owing:
      1. if the Nominated Property is sold, on the Settlement Date; and
      2. if (for whatever reason) the Applicant receives from the Approved Solar Retailer a full refund of the amount paid (or payable) for the Solar System, within five (5) Business Days of the date of receipt.
    2. The Applicant may prepay all of the Money Owing under the Loan Contract at any time before the end of the Loan Period.

    5.3 Application of prepayments

    1. Amounts prepaid may not be redrawn.

  6. Payment

    6.1 Method of payment

    All payments by the Applicant under the Loan Contract must be made:

    1. to the account nominated by DEECA by direct debit in accordance with the Direct Debit Form;
    2. in Australian dollars and in immediately available funds; and
    3. without set-off or counterclaim and without any deduction or withholding for any Taxes.

    6.2 Direct Debit Form

    The Applicant acknowledges that the Direct Debit Form will be a separate arrangement between the Applicant and the Payment Agent, but notwithstanding this, the Applicant agrees that in respect of all matters touching or concerning the Direct Debit Form, the Applicant must only make contact with DEECA and not the Payment Agent directly, and that the Applicant’s sole recourse in respect of matters touching or concerning the Direct Debit Form are against DEECA.

    6.3 Direct debit facility

    The Applicant must maintain a valid Direct Debit Form at all times whilst there are Moneys Owing, and the Applicant must if they wish to change, stop or defer a debit under the facility established by the Direct Debit Form or cancel that facility, give at least 30 days prior notice to DEECA, and alternative arrangements acceptable to DEECA must be reached.

  7. Representations and warranties

    7.1 Representations and warranties

    The Applicant represents and warrants to DEECA that:

    1. (capacity) they act on their own behalf in entering into the Loan Contract, and not as a trustee or on another person’s behalf;
    2. (Application) all information disclosed to DEECA to support their application for the Solar Homes Loan is true, complete, accurate and not misleading;
    3. (solvent) they are not involved in any bankruptcy, insolvency or other similar proceeding;
    4. (non-compliance) to the best of their knowledge, there are no legal, regulatory, contractual or other restrictions upon them complying with their obligations under the Loan Contract;
    5. (information) they have fully disclosed (in writing) to DEECA all information material to DEECA’s assessment of the nature and amount of risk undertaken by DEECA in entering into and performing the obligations under the Loan Contract and such information is accurate and not misleading; and
    6. (no Event of Default) no Event of Default subsists.

    7.2 Repetition

    The Applicant repeats each representation and warranty in this clause 7 with reference to the facts and circumstances on each date on which any of the Money Owing is paid to DEECA.

  8. Undertakings

    8.1 General undertakings

    The Applicant must (unless DEECA otherwise consents):

    1. (access) provide DEECA or its contractors with access to the Nominated Property to carry out inspections or audits of the Solar System;
    2. (obligations under the Loan Contract) not enter into any arrangement which would prevent them from complying with their obligations under the Loan Contract;
    3. (no Event of Default) ensure that an Event of Default does not occur; and
    4. (Solar Homes Loan) not apply, or otherwise attempt to receive, more than one loan per property under the Solar Homes Program for two separate rental properties of which you are the Rental Provider in any given financial year; and one Solar Homes Loan for a property which is your principal place of residence;
    5. (Renters) if the Nominated Property is Rented:
      1. procure that the relevant information and consents in clauses 8.1(b) and 8.1(d) are provided by the Renter to DEECA; and
      2. must not claim any amount from the Renter of the Nominated Property in respect of the Loan Amount that is referable to any period after the Renter vacates the Nominated Property; and
    6. (Agreement between Rental Provider and Renter) if the Applicant has entered into a Agreement between Rental Provider and Renter
      1. comply with the Agreement between Rental Provider and Renter; and
      2. not request for any payment:
        1. towards the Loan Amount unless the Solar System has been installed at the Nominated Property and is in working order; and
        2. on a monthly basis, that exceeds 50% of the instalment amount set out in the loan repayment schedule of the Offer Letter; and
    7. (untrue representation) not make a representation, warranty or statement to DEECA that is untrue, incomplete, misleading or deceptive in any respect.

  9. Events of Default

    9.1 Events of Default

    An Event of Default occurs, whether or not it is within the control of the Applicant, if:

    1. (payment obligation) the Applicant does not pay any of the Money Owing that is due and payable by it under the Loan Contract;
    2. (other obligation) the Applicant fails to comply with any obligation under the Loan Contract (other than an obligation under paragraph (a) above) and the breach is incapable of remedy or, where the breach is capable of remedy, fails to remedy that breach within five Business days of the earlier of:
      1. receipt by the Applicant of a Notice from DEECA requesting the Applicant to do so; and
      2. the Applicant becoming aware of the failure to comply;
    3. (insolvency) the Applicant becomes involved in any bankruptcy, insolvency or other similar proceeding;
    4. (enforcement) any security interest over the Nominated Property is enforced or becomes enforceable by a third party;
    5. (Nominated Property) the Applicant ceases to be the legal and beneficial owner of the Nominated Property;
    6. (untrue representation) a representation, warranty or statement made (or deemed to be made) by or on behalf of the Applicant to DEECA is or becomes untrue, incomplete, misleading or deceptive in any respect which DEECA considers to be material; and
    7. (material adverse effect) any other event occurs or any circumstance arises which, in DEECA’s opinion, has a material adverse effect on the Applicant’s ability to meet any one or more of their obligations under the Solar Homes Program.

    9.2 Consequences of Event of Default

    1. If an Event of Default subsists, DEECA may give Notice to the Applicant declaring that:
      1. the Money Owing is immediately due and payable, in which case the Applicant must immediately pay the Money Owing to DEECA;
      2. all or part of the Money Owing is payable on demand in which case the Applicant must pay those amounts to DEECA on demand; and
      3. DEECA’s obligations specified in the Notice have been terminated with immediate effect.
    2. If DEECA gives a Notice under clause 9.2(a) DEECA will not be obliged to make available a Solar Homes Loan available to the Applicant under these Terms.

  10. Interest on default

    10.1 Interest - accrual and calculation

    Interest at the Default Rate accrues daily on each unpaid amount of the Money Owing which is due and payable by the Applicant (including on unpaid interest under this clause 10.1 ) from and including the due date (or, for an amount payable by reimbursement or indemnity, any earlier date the amount was incurred), up to but excluding the date of actual payment.

    10.2 Payment

    The Applicant must pay to DEECA accrued interest under this clause 10 on the last Business Day of each calendar month and on demand. The Applicant authorises DEECA through its Payment Agent to directly debit any amounts payable under this clause 10 from the Applicant’s nominated account in the Direct Debit Form.

    10.3 No effect on other rights

    DEECA’s right to require payment of interest does not affect any other rights and remedies it may have regarding the Event of Default.

  11. Costs and expenses

    1. Each party is responsible for their own costs in relation to the Solar Homes Loan.
    2. DEECA has the right to seek recovery of any costs from the Applicant in connection with the enforcement of, or the preservation of any rights under, the Loan Contract.

  12. Notices

    1. Except for general communication undertaken by phone and the Solar Victoria’s website, legal notices under the Loan Contract must be in writing and sent to the address of the recipient specified below or to any other address notified in writing:

      1. Applicant:

        The Applicant’s address set out in the Key Terms.

      2. DEECA:

        Solar Victoria
        PO Box 104, Morwell VIC 3840
        Att: Chief Executive Officer
        Email: loans@solar.vic.gov.au

    2. A notice, consent or communication by email is taken to be in writing and signed by the named sender.
    3. The Applicant agrees to the Electronic Transactions (Vic) Act 2000 applying to communication under the Loan Contract. The Applicant further agrees that any notices and communications between DEECA and the Applicant relating to or connected with the Loan Contract can be conducted using electronic communications sent to any email address specified by the Applicant and that they agree to enter into contracts with DEECA and interact with DEECA using electronic communication.

  13. Privacy

    1. The Applicant’s details (including their name, address, contact details, bank account details, debit authority) (Details) are collected by DEECA for the purpose of making an application for a Solar Homes Loan and administering the Loan Contract.
    2. DEECA is utilising the services of the Payment Agent to assist in aspects of the Loan Contract, including paying the Approved Solar Retailer and establishing and using the direct debit facility in accordance with the Direct Debit Form and this Loan Contract. The Applicant consents to DEECA providing their Details to the Payment Agent for such purposes. The Applicant consents to the Payment Agent collecting, using and disclosing the Applicant’s Details as required to provide its services to DEECA, including contacting the Payment Agent’s bank as required in connection with the establishment and use of the direct debit facility.
    3. If the Applicant does not provide their Details, then DEECA cannot complete the application for a Solar Homes Loan and the Payment Agent cannot establish the direct debit facility.
    4. DEECA's privacy policy is available at www.DEECA.vic.gov.au/privacy and the Payment Agents privacy policy is available at www.statetrustees.com.au/about-us/important-information/privacy-and-security. These contain more information about how DEECA and the Payment Agent deal with personal information, rights to access, correction and privacy complaint processes.

  14. General

    14.1 Severability

    If any provision of this document is void, voidable by a party, unenforceable, invalid or illegal and would not be so if a word or words were omitted, then that word or those words are to be severed and, if this cannot be done, the entire provision is to be severed from the Loan Contract without affecting the validity or enforceability of the remaining provisions of this document.

    14.2 Time of the essence

    Time is of the essence in the Loan Contract for any obligation to pay money.

    14.3 Inconsistency

    If the Solar Homes Loan Terms are inconsistent with the Key Terms, the Key Terms prevail.

    14.3 Governing law

    The Loan Contract is governed by the laws in force in Victoria.

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