How To Finance Your Solar Investment & Start Reducing Your Bills!

A solar system in a beneficial investment which can relieve households from overpriced electricity bills and provide future savings for over 20 years. However, the upfront cost of purchasing a solar system can be a deterrent, no matter how much financial sense it makes to install or despite the Government Rebates available.

Solar Panels Return On Investment

Dependent on the size system you opt to install could have you looking at prices ranging from $2,000 – $12,000 for sizes in the parameter of 1.5kW – 10kW. The typical Australian household will see greater benefits from installing a 5kW system or more, as opposed to opting for a smaller, less expensive system due to the amount of energy that can be produced with a larger system, which in turn reduces your energy bills greater.

So, with that in mind a 5kW – 10kW system would put you in the pricing bracket of $4,000 – $12,000, which for most of us requires dipping into our hard-earned savings or saving up over a long period of time, when we could have already started reducing our electricity bills.

Fortunately, these days there are financing options available which can assist you with the upfront costs of installing a solar system now, so you can start reducing your electricity bills sooner!

Green Loans

When considering finance for a solar system your safest and the most cost-efficient choice is a Government-backed Green Loan which is specifically designed for those wanting to invest in green projects. A well-known and reputable name amongst the market is RateSetter who provide low-interest loans, specifically for green projects or energy efficient products. Supported by the Clean Energy Finance Corporation, RateSetter’s Green Loan offers low-interest rates from 6.9% p.a.

Solar Panels Green Loan Australia

A Green Loan’s low-interest rate means the savings you have accumulated from using your solar system could cover your loan repayments!

  • Rates as low as 6.9% p.a.
  • Borrow from $2,001 – $45,000 for green projects; including solar systems and battery
  • From 3 – 7 years with no exit fees or early repayments penalties
  • Fast online application in as little as 5 minutes
  • Be rewarded for having great credit

Many of our installers are accredited to provide finance through Green Loans and can assist you with your finance applications.

Request Obligation Free Quotes & Ask Our Installers About Green Loans!

Government Assistance

Some of the State Governments in Australia provide financial assistance as well as additional rebates for energy efficient purchases such as solar and/or battery storage for solar, usually in the form of interest-free or low interest loans. To find out what is available in your State, check out our Government Incentives page HERE.

Solar Panel Rebates

Power Purchase Agreement (PPA)

A Power Purchase Agreement (PPA) is a financial arrangement where a solar installation company will install a solar PV system at your property for free, and then sell you (the occupier) back the power generated at a lower price than you would pay from an energy retailer.

Whilst this is becoming somewhat popular in the commercial solar industry it is still yet to take off in the residential solar market.

Add To Your Home Mortgage

Another option homeowners can opt for is borrowing more money against their mortgage to put towards investing in a solar system. Whilst this isn’t a terrible option, if you’re only paying the minimum repayments towards your mortgage and the interest rate is high, then you could end up paying more for your system in the long run.

Home Mortgage

Be Wary Of Advertising For INTEREST FREE Loans

It’s common to see INTEREST FREE loans advertised for solar systems and panels these days, however it’s important to be cautious of additional costs where the provider of the loan will make up on their loss of interest fees.

Many systems under an interest free loan will have a price tag increase of 15% to 25% despite being the same system advertised cheaper elsewhere. So while you might not being paying interest fees, you’ll be paying the same or more in the long run if you were to choose an interest free loan over a more transparent Green Loan.

Get started on your solar investment today and request 3 obligation free quotes!

Receive FREE Solar Quotes

Download Your FREE Beginner’s Guide To Solar Power!

Beginners Guide to Solar Power

If you’re considering solar for your property or just looking to maximise the savings for your solar system, download a FREE copy of our "Beginner’s Guide To Solar Power".

Become an expert and better understand the ins and outs of solar power and solar PV systems for your property.

Includes detailed explanations and diagrams of the various types of solar systems and their parts, solar battery storage systems, Government incentives, expected ROI periods, finance, energy saving tips and more!

Download Your Free Copy Now!

 

Most Popular Reads

Post Thumbnail

Common Solar Mistakes- Pre & Post Installation

Post Thumbnail

Your Electricity Bill Breakdown & Highest Energy Consuming Appliances

Post Thumbnail

Low Income Households Finding Relief with Solar

Post Thumbnail

Maximise Your Energy Savings With These Top Tips!

Post Thumbnail

6 Reasons Why Solar Power Isn’t Saving You Much Money

Latest blog & information

X

Please provide your email address so that we can send your free copy of "Beginner’s Guide To Solar Power".

Yes please, I would like to receive updates from Solar Market. Click to view our Privacy Policy.

Thank you

We have emailed your copy of "Beginner’s Guide To Solar Power".

If your guide does not appear in your inbox ensure that you have provided the correct email address or check your junk/spam folder.

This message will close in 10 seconds or

Close and back to page
X

Understanding Batteries

Off-Grid Systems

For some households a battery system can be of great benefit and minimise a home’s reliance on the grid. However, it’s important to understand for a battery to be useful your solar system needs to be generating excess energy for the battery to store, which you can then use at night or when the sun is not out.

When selecting a battery, you’ll want to invest in a system that is most suited to your home and can drive the best return on investment (ROI). Despite a larger upfront cost, a higher quality battery may significantly increase your ROI.

    Battery systems start from $6,000 and costs can vary greatly based on the following factors:

  1. Cycle Life-Time

    The number of times a battery can fully charge and discharge.

  2. Battery Power (kW)

    How fast it can be charged or discharged.

  3. Storage Capacity (kWh)

    The maximum amount of energy a battery system can store.

  4. Battery Management System (BMS)

    An electronic ‘smart’ system that gathers data and manages the battery ensuring it does not overload or operate outside of its safe functioning zone..

  5. Inverter

    Battery systems require their own inverter if your solar system does not have a hybrid inverter.

  6. 'All-In-One Unit’

    A system which includes the battery, BMS and an inverter all in one unit.

  7. Warranty

    Length of time or cycles the battery system is under guarantee.

  8. Blackout Protection/Backup

    It’s important to note this is not a common feature of a battery system and could cost thousands of dollars to include. Blackout protection not only requires additional components but also a specialised installation and rewiring. For grid-connected homes, the cost for blackout protection can outweigh the benefit.

Additionally, if your purpose for adding battery is to go Off-Grid and become completely independent from the grid you will need to ensure your solar system can generate enough energy to power your home and your battery system is large enough to store this energy. For homes in metro areas going Off-grid is not cost effective and is only recommended for those in remote areas with limited access to the grid. Off-grid solar systems with battery start at approximately $30,000.