Finance For Solar Panels Australia

Solar systems currently generate a tax free return that is higher than current bank interest rates or government bonds.

Finance for solar panels australia.

Types of secured solar loans. The center estimates it takes an average of six to nine. For example green personal loans are typically only available to borrowers with good credit who want to use the funds to buy an energy efficient solar system. A secured solar loan or home equity line of credit heloc takes advantage of the equity in your home to keep interest rates low.

After that eligibility criteria differ depending on the type of financing you choose. The average solar panel system including installation can cost between 15 000 and 25 000 according to the center for sustainable energy. To qualify for solar panel finance you will need to be 18 years or older and an australian resident. If you use most of your electricity during the day a 6 6kw system purchased for 6 500 will generally pay for itself in around five years.

Solar energy finance is a highly specialised experienced finance service dedicated solely to providing finance solutions to residential and commercial customers solar installers and the energy sector. Given the current low mortgage rate of about 4 5 borrowing more against your home to pay for a solar system could be a perfectly sensible way to finance solar panels. Australia s premier providers of finance for commercial solar panels and batteries australia s premier providers of finance for commercial solar panels and batteries with the ailing state of our environment it has never been more vital that we consider the affect our habits and behaviours are having on the planet. Mortgages obviously take a long time to pay off however and adding more debt could leave you paying a lot more for solar in over the life of the mortgage.

That s 0 down and start paying less for the energy you use. In order for a loan to be worthwhile it needs an interest rate of around 7 or less. That s a return of 12 per annum.