Households that stand to benefit the most from energy savings are often those that are unable to access the capital required to install a solar system. Although prices have become a lot more affordable in recent years, for many Australian households, the upfront cost is still too high, despite the potential savings being so great. However, it has recently been announced that as part of the Palaszczuk Government’s $2 billion Affordable Energy Plan, Queenslanders unable to access upfront capital will be able to apply for a no-interest loan for solar panels and battery storage. The scheme is due to commence in March 2018. We will keep you updated.
UPDATED 18/02/19:
As stated earlier, the Palaszczuk Government’s Affordable Energy Plan aims to make electricity more affordable for residential and business customers. Part of the plan includes interest-free loans for solar and electrical storage.
To drive the continued uptake of solar, we have allocated $21 million over 3 years in no-interest loans and rebates for Queenslanders purchasing solar and battery systems.
For those considering solar installations, if you are unable to afford the costs for an outright purchase, you can apply for an interest-free solar loan from the government. If you qualify for the interest-free solar loan for financing your solar panel installation, there is often little investment upfront after small-scale technology certificates and the $4,500 loan are applied. The solar loan agreement is usually for up to seven years and assuming full payment, you will own the system. You only obligation is to make monthly repayments towards the loan.
Loans are best suited for people who see the value and (short and long term) savings from getting a solar installation but who are not in a position to pay the costs up-front. This said, you will still be responsible for maintenance and for any repair that is outside the scope of the manufacturer’s or our warranty.
We are glad to be able to assist our customers and followers with energy savings through our Energy Audit service. If you would like further information on how your family can save money on your power bills, please contact us on (07) 4243 3202, email us at, info@greenfieldenergy.com.au or use the form below. We look forward to hearing from you!