🇦🇺 How to Set Up the Solar Victoria Battery Loan?

Configuring the Victorian Solar Battery Loan

Navigate to Control > Other > Incentives - From here, you will be taken to a list of your current incentives.

Note: For existing users - Do not modify your current Solar Victorian Battery Rebate because it will affect your old/existing projects. You should be duplicating or creating a new one instead - then name it as e.g. Victoria Solar Battery Loan 2023-24.

Title: Set the incentive title as "Victorian Solar Battery Interest-Free Loan". This will take you into the incentive setting, where you can specify the following fields:

• Description: Set a description for the incentive, which would be visible to the customer on the proposal. It could be as simple as a line saying, "Up to $8,800 Solar Battery Interest-Free Loan provided by the Victorian Government".
• Incentive type: Set it as a Price Based Incentive.
• Price-based incentive type: Set the type as Price Payable Including Tax.
• Percentage of Price(%): As the incentive is 100% of the price payable, set it to 100.
• Incentive Paid to: Select Installer from the drop-down menu. This affects how the incentive would be applied to the cost of the system and how it appears on the proposal.
• Cap amount ($): Set the cap amount to $8,800.

Incentive List Page

Individual Incentive Page

Applying the Victorian Solar Homes Incentives to a Project 

Once you have configured the above incentives in your account, you can proceed to the Design tab for a specific project where you wish to apply the incentive. 

Once the designing of the system is complete, perform the following steps in the exact same order (as the order in which the incentives are applied is important)

• Go to the Incentives tab in the left sidebar in the design zone.
• Click on Override Default Incentives
• Select the following incentives in the same order:
  1. STC Point of Sale Discount
  2. Victorian Solar Home Rebate 
  3. Victorian Solar Home Loan (if the customer is eligible and applying for the loan)
  4. Victorian Solar Battery Interest-Free Loan (if the customer is eligible and applying for the loan)

Configuring and applying the Loan repayment schedule

The loan repayments to the Victorian government are not included in the financials but can be shown as a separate recurring cost for the customer.

You must calculate the recurring repayment cost for each case, as the loan amount can differ and depends upon the repayment frequency (i.e., Weekly, Fortnightly or Monthly).

This amount can be added as another component in the app's Control zone to configure the customer's recurring payment schedule. Go to control > design & hardware > other components > + add from database > 

Enter the following details:

• Code: You can enter any code, for example, VIC Loan, to represent that component.
• Title: The title is what the customer will see as the repayment heading, for example, "Vic Solar 0% Interest Loan Repayment".
• Manufacturer: The manufacturer field can be left blank in this case.
• Description: A description of how the repayments will work should be entered here. This will help the customer understand the process of repayments and the loan. It could be as simple as a line saying, "Choosing to take the VIC Battery 0% interest loan reduces your Upfront Purchase Price. You will, however, be required to repay this loan over 4 years at up to $42.31 per week (fortnightly and monthly options as well)."
• Enable both the toggles Show Customer and Enable Additional Costs.
• Formula: From the drop-down menu, select "Specify Value"
• Value: in the value field, enter the $ value of the repayments, which you would have calculated as shown in the example above. The value depends on the amount of the loan and the repayment cycles. 
• Cycle Units: From the drop down menu, you can select Monthly, Fortnightly or Weekly, depending on what option you want to show the customer. 
• Start Cycle: Start cycle should be set to 0, indicating the current Month as the starting cycle for payments.
• End Cycle: The end cycle value is the Number of repayments minus 1 (N-1) and so for the above example for monthly repayments, the end cycle value for 48 months would be 47.
• Leaving all the other fields at their default values, you can now press the  button. 

The below is an example:

Once the component for the loan repayments has been created, it can be added to the project by going back into the design zone.

In the design zone:

• Go to Other components.
• Click on  to add an other component.
• Press Select and choose the VIC loan component from the list of other components.
• Once the component has been added, you can move to Online Proposal to see how it displays in the quotation table.

Once the loans and the repayment components have been applied to the system, the final quotation in the proposal would contain all the information about the incentives and also have the additional component for the loan repayments.