Today's Budget will double the Federal Government's solar rebate scheme from $4000 to $8000 as part of a push to encourage households to take up solar heating and thus development the solar industry in Australia.

Schools and education will also be able to apply for grants of up to $12,000 to help install solar power.

The cost of the higher rebate will be $150 million over five years, with the Government hoping the incentive will help reduce household electricity bills and create a competitive solar power industry.

On the other side of the fence, the ALP is offering to tip $300million into a household loan scheme. This will allow households to borrow up to $10,000 to fit their homes with solar panels, rain-water tanks and other eco-friendly products.

The state Governments also currently offers rebates for installing water tanks. For example, residential customers of Sydney Water who install a tank can receive a rebate of up to $800.

So, whichever side you're voting for, installing smart green-friendly technology into your new home is set to be not quite as expensive as you might have thought.