Low interest and interest-free solar power!

 

Would you like a home solar power system or solar hot water service, but even with the government rebates and grants available you don't have quite enough cash on hand? Low interest loans are available - or through Energy Matters, pay no interest ever, with SolarPlan!

    

     

EM SOLARPLANŽ helps you go solar today by spreading the cost over convenient fortnightly direct debit repayments. All you need is a 10% deposit and you'll pay no interest - ever! Learn more about EM Payment Plan 

 

Australian Government Green Loans Program

 

The Australian Government's Green Loans Program was providing interest-free loans of up to $10,000, but on Friday afternoon, February 19, 2010, the Government announced sweeping changes to its Green Loans Program and the loan program suspended from late March. 

 

Alternatives - green loans directly from banks

  

Many financial institutions now offer green loans to their customers at lower rates! Here's a selection of products not tied in with the Government Green Loans program from financial institutions in Australia; offering low interest loans for the purchase of solar energy systems.

   

• Hunter United Credit Union Green Saver Loan : Low interest green loans of $2,00 to $20,000 are available to purchase solar power systems, water tanks, insulation and other households improvements designed to achieve economic and environmental savings. Up to 5 year loan term.
• Bendigo Bank - Generation Green  Personal Loan
• Savings and Loans - Green Personal Loan
• Community First Credit Union
• MECU - goGreenŽ home improvement loan
• Community CPS Australia - Enviro Loans

  

As always, when selecting a bank or other financial institution for a green loan for solar power, be sure to read all the terms and conditions carefully before signing any contracts.

  

As mentioned in our solar power consumer guide, it appears some people are  also re-financing their mortgage in order to install an expensive solar power system. This is something we strongly recommend against as the system could cost you many thousands more over the term of the mortgage and at times the interest will work out to exceed your electricity bill savings. It's wiser to opt for a smaller system that you can afford outright or consider EM SOLARPLANŽ and pay no interest - ever!.