While the Australian Government’s Green Loans program has effectively ended; for those people who have already commenced the process, the Federal Government has clarified that it will honour all complying interest free green loans that have had their loan contracts signed on or before 22 March 2010.
For everyone else – all is not lost.
Australian financial institutions are recognising there is an increasing demand for solar power systems and creating loan products to suit.
National solar solutions provider Energy Matters have begun listing banks and credit unions offering low interest green loans on their web site at www.energymatters.com.au
According to Energy Matters co-founder Max Sylvester, “Progressive institutions understand that unlike many other items bought with personal loans, a residential solar power system can be a real asset, adding substantial value to a home. With a real estate market increasingly leaning to green; a home solar power system may edge out other similar properties on the market at the time.”
Mr. Sylvester says this aspect of solar power is often not considered.
“People tend to focus on the government rebates, emissions reduction, electricity savings and income that can be generated from owning a system through feed in tariff arrangements – and these are all very powerful motivators. Solar panels adding value is an aspect that is often overlooked and unlike a home improvement such as a pool, there’s very little maintenance involved.”
Energy Matters is inviting banks, credit unions and financial institutions to send details of their low interest green loans for purposes including solar power systems to media@energymatters.com.au in order to be listed on the Energy Matters web site.
“Since the announcement of the end of the Green Loans program, traffic to our green loans page has really taken off. The listings are free – we just want to be able to provide this information to consumers as it benefits everyone.” says Mr Sylvester.
