Are you keen to install a solar energy system for your home or business? But you’re concerned about the cost? With the likes of solar loans, incentives and rebates, tax credits and attractive buy now, pay later financing options, solar energy has never been more affordable! Here are some ways you can finance your solar energy system with ease.
Taking out a personal loan for a new car or a holiday is nothing new. But did you know that you can take out a personal loan, a home equity loan, or a green loan, for a solar energy system? Personal loans are unsecured loans, whereas home equity loans allow you to borrow against the equity in your home. Green loans are designed specifically for solar energy projects. Be sure to do your research, check out the loan types on offer, and shop around for the best deal. It’s important to set a budget and consider the length of the loan, too.
Incentives and rebates
The great thing about solar energy in Australia, is that quite often the government and energy providers are incentivising the uptake. Cut through all the clutter and find out if your home or business is eligible for rebates or assistance, such as the Small-Scale Renewable Energy Scheme (SRES). Visit energy.gov.au/rebates for up-to-date incentives and rebates. You can also talk to your energy provider, or shop around, to see if they’re offering incentives (rebates, feed-in tariffs) for customers installing solar panels.
Solar energy tax credits are available through the Small-Scale Renewable Energy Scheme (SRES), run by the Australian government. This scheme allows homeowners and businesses to earn a certain number of Small-Scale Technology Certificates (STCs) for their solar energy systems.
STCs are essentially a tradable currency, represented by the amount of energy expected to be generated by a solar system (depending on the system’s size and location). Homeowners and businesses can claim STCs and sell them to electricity retailers. The value of STCs depends on the market (supply and demand), and they can be used to offset the cost of a solar system.
Start your solar energy today, pay later. Think Afterpay, but for solar. With various partners and options, you can finance your solar with 0% interest loans, affordable repayments, over a range of timeframes. Just shop around and find the best offer to suit you and your budget. You can enquire about our finance options through our form here, or by calling us on 1300 4 SOLAR.
From solar loans, incentives and rebates, tax credits and payment plans, there’s a lot on offer to take advantage of. Do your research, find your best option, and get going! If you’d like to talk through your options with our team, call us on 1300 4 SOLAR. We’re always here to help.