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The Victorian government has today announced it will provide 50% of funding for solar PV systems up to 4kW, for 650,000 Victorian homes over the next 10 years, starting Monday.

This is a $1.24 billion program.

The program will save the typical Victorian household $2,225 for an average 4kW solar system.

If re-elected, the current Victorian Government will also provide a four-year interest free loan for the other 50%, to allow Victorians to save around $890 a year on their power bills with no up-front cost.

Homeowners will not be limited to a 4kW system, but only half of the first 4kW will be covered by this scheme.