There are many benefits to solar panels, beyond the most obvious one of helping to save the planet, such as major savings on your bills and a return on investment. That said, installing solar panels does come with an initial upfront cost, one that can be quite expensive. And this cost is one of the most common reasons why home and property owners choose not to install solar panels.
However, there is financial help out there, many banks offer loans at a low fixed rate for sustainable or ‘good’ energy.
The below banks all offer a top up of their existing home loans at a fixed rate of 1.00% p.a for three years up to $80,000 to help you make your home more energy efficient and better for the environment. Part of this includes installing solar panels and the related project costs.
Other Loans Available Include
Westpac offers the Westpac Warm Up loan. It’s an interest-free loan up to $40,000 for five years for both new and current Westpac Choices Home Loan customers.
Kiwibank’s Sustainable Energy loan. If you borrow more than $5000, then you could be eligible for a contribution of $2000 over four years towards the cost of the system. And if you’re an existing customer then they’ll waive the top-up free for installing an eligible sustainable energy system such as solar panels.
If you would like to learn more about the benefits of solar panels then click here. Or if you’re ready to install solar panels and would like more information about costs, then give us a call on 0508 222 678.