Last updated March 2025
Plenti Solar Loans: Low-Rate Finance for Energy Upgrades
Plenti offers low-interest loans for green projects or energy-efficient upgrades. These loans are supported by the Clean Energy Finance Corporation (CEFC).
Why Choose a Plenti Green Loan?
Plenti’s solar loan offers interest rates from just 9.49% p.a.*. With a solar system reducing your power bills, your savings could help cover your loan repayments.
Key Features:
- Interest rates from 9.49% p.a. Borrow between $2,000 and $45,000
- Use for solar systems, battery storage, and other green upgrades
- Loan terms from 3 to 10 years
- No exit fees or early repayment penalties
- Fast online application — takes as little as 5 minutes
- Better credit = better rates
Extra Discount with HEUF Green Loans
You may qualify for an additional 3.34% p.a. discount through the Household Energy Upgrades Fund (HEUF) Discounted Green Loans.
HEUF Discounted Green Loan Features:
- Rates as low as 6.15% p.a.
- Borrow $2,000 – $50,000
- Loan terms from 3 to 15 years
- Available through Plenti’s approved installers and partners
How Does Plenti’s Solar loan Compare To Other Finance Options?
Here’s how it would compare to other finance options if you were to borrow $10,000 to be repaid over 60 months:
| Plenti Green Loan | Credit Card | Mortgage (20-year term) | |
|---|---|---|---|
| Interest Rate | 9.49% p.a. | 19.94% p.a. on purchases | Mortgage offset – 4.71% p.a. |
| Total Interest & fees | $2,598 | $6,575 | $5,457 |
| Monthly repayments | $209 | $250 (average) | $61 |
| Comparison rate | 10.6% p.a. | 19.94% p.a. on purchases | 4.71% p.a. |
| Total cost | $12,598 | $16,575 | $15,457 |
Credit Card
High-interest rates from credit card fees could increase your overall payment greatly, in a short time. Over a 60-month loan term, you could be looking at an extra $4,000 of interest compared to financing from Plenti.
Mortgage
You can borrow more against your home using low mortgage interest rates,. However, the length of the loan could have you paying double of what your solar system would have cost you. Unless you plan to pay your mortgage off in a short period of 2-5 years.
$0 Upfront or Interest-Free Claims
Be wary of $0 Upfront or Interest-Free claims deals. While the initial no upfront payment and no interest sound great, these deals usually set the overall retail price for the solar system substantially higher than your standard solar system price. Therefore, you’ll be paying more in the long run.
Learn what alternative financing options could be available to you.
Disclaimers:
Comparison rate based on an unsecured green loan of $30,000 repaid over 60 months. Rates shown assume monthly repayments for a customer with an excellent credit history and are current as at 17 January 2023. WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees, brokerage or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.
Notes:
- Plenti loan assumes 60 equal monthly repayments consisting of principal and interest. Credit card repayments assume 60 equal monthly repayments over 60 months.
- Total interest and fees include all upfront and establishment fees, ongoing account fees and all interest accrued over the term of finance.
- Mortgage repayments assume 240 equal repayments over 240 months.
- The Plenti comparison table is calculated assuming a $30,000 loan for a term of 5 years, using the rates and fees applicable for a $10,000, unsecured Plenti green loan for 5 years for a borrower with excellent credit.
- Rates and fees as of 17 Jan 2023.
- The analysis is indicative only and the interest rate or fees that apply to your loan vary depending on movements in our lending markets, your credit history and your specific solar installer.
Disclaimer
- The information contained on this website should not be taken as financial product advice and has been prepared as general information only without consideration for your particular investment objectives, financial circumstances or particular needs. This is not an offer for credit and Plenti’s credit criteria and terms and conditions apply.
- Credit is provided by Australia Executor Trustees Limited as a custodian for the Plenti Lending Platform Australian credit license 240023. Plenti Australia RE Limited ABN 571 666 466 35 holds Australian financial services license number 449176 and Australian credit license number 449176.
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