At the 2004 Athens Games in the Men's Team Sprint LC1-4/CP 3/4 event, cycling team captain Christopher Scott relinquished his place in the team in the finals so that Homann could get a chance to win a gold medal at his last Paralympics; the Australian team won the event so he received the gold medal along with Scott and the rest of the team. In a 2008 interview, Scott said of this action: "I already had my gold medal. It's what you do in a team. Peter deserved his chance on the podium."Homann also won two silver medals in the Men's Road Race / Time Trial Bicycle CP Div 4 and Men's Individual Pursuit Bicycle CP Div 4 events at the 2004 Games. In 2008, he was inducted into the International Paralympic Committee Paralympic Hall of Fame. He was an Australian Institute of Sport scholarship holder in 1997 and 1999.