The financial returns on rooftop solar and many energy efficiency measures are an excellent investment with the potential to save far more than the initial capital outlay through electricity bill savings. Often, you will also end up with a more comfortable and valuable home as well!
Investing in technologies that reduce your power bill and reduce your carbon footprint is even more attractive now due to a range of different financial incentives.
Almost all are available through appropriately accredited installers, which means that it is the installer that does most of the paperwork and includes any grant or rebate in your final bill.
If none of these are available, then you can consider borrowing money for your purchase at a competitive rate of interest and use your energy bill savings to pay it back.
On this page, you’ll find information about financial incentives for your energy saving measures:
This national program supports rooftop solar, home battery and heat-pump water heater installations.
Each installation of eligible technology creates a prescribed number of STCs, which are then sold to electricity retailers obliged to meet greenhouse emission reduction targets. Your accredited installer then includes in your final bill a reduction equal to the sale value of these STCs. You should be able to clearly see the savings amount as a line item in the quotation you receive.
This scheme is due to come to an end on 31 December 2030, and so each year the value of STCs declines. As a result, the sooner you act, the greater benefit you will get!
This new program will provide discounts and loans for the professional installation of the following technologies/services:
| NSW Home Energy Saver | ||
|---|---|---|
| Zero-interest loans | Discounts | |
| Amount | Up to $15,000 per property | Up to $4,000 per property, including individual apartments |
| Who's it for | Homeowners and landlords with a combined household income of up to $210,000 | Homeowners and renters with a combined household income of up to $80,000 or an eligible concession card |
| Length of time | Loans for up to 10 years. Total amount can be accessed in stages. | Not available at 1 October 2026 |
| How accessed | Accessible through Brighte & Plenti | Will be accessible through Creditex |
Zero-interest loans are now available to eligible households. However not every product is available on the Central Coast just yet, though many of Electrify Bouddi’s partner installers are working towards accreditation — so ask them!
The discounts are not live yet, but we’re told they’re coming soon.
Eventually eligible households will be able to combine both discounts and loans for the same property. They can also use these together with other NSW and nationwide rebates.
Further information is available from the NSW Government site . We will also provide regular updates as the program rolls out.
Discounts are available for the following:
The amount of these discounts vary depending on what is being replaced and the size of the new appliance, but are often in the region of several hundred dollars.
All installers can access these discounts by partnering with an Accredited Certificate Provider (ACP).
Further information is available from the NSW Government site.
The NSW Government offers the following targeted rebates for groups of eligible householders:
Seniors Energy Rebate
Householders with a Commonwealth Seniors Health Card can apply for a rebate of $200 per year to pay for electricity.
Applications can be made on the NSW Government site until 30 June 2027.
Low Income Rebate
Householders with one of the following valid cards issued by Services Australia or the Department of Veterans’ Affairs can claim money towards their electricity and gas bills:
Apply for $285 towards the cost of electricity on the NSW Low Income Household Rebate page.
Apply for $110 towards the cost of gas on the NSW Low Income Household Rebate page.
Family Energy Rebate
Households receiving the Family Tax Benefit can apply for $180 per year towards their electricity costs.
Apply on the Family Energy Rebates page until 15 June 2027.
Medical and Life Support Rebate
Additional support is available for people using life support equipment at home and for those unable to self-regulate their body temperature.
You may wish to finance your upgrade through a loan. If you are eligible for the NSW Home Energy Saver loan, this is likely to be the best deal (see above). However, if you cannot access this or it does not cover all the work you want to do, then the following information should help.
Avoid most “no Interest, buy now, pay later” offers
Zero interest loans widely advertised by some installers are often too good to be true – with the exception of the Home Energy Saver loan. While you may not be charged any interest on money borrowed, you are likely to be charged 15-25% more than the market rate for the solar system components they sell you. This is probably the worst financial route to pursue and should be avoided.
Home mortgage option
If you have a mortgage offset facility or the ability to redraw funds from your mortgage, this is usually the simplest and most cost effective solution. You simply pay the same interest rate as your home mortgage, or in some cases, even less. Your power bill savings can then be applied to reduce your mortgage balance. Contact your mortgage institution to see if this option is available for you.
Personal loans
If you don’t have a mortgage, or it is too difficult to renegotiate your existing mortgage, then a personal loan can be a viable and competitive option if you can find one offering a low interest rate.
The standard general personal loan facility, historically promoted by banks and other financial institutions, will apply an interest rate somewhere in the range of 16% to 20%. This is not the type of personal loan you want.
Many financial institutions have established ‘green’ or ‘sustainability’ personal loan options offered to fund purchasing of solar panels, electric vehicle chargers, batteries and other home energy efficiency measures such as insulation and heat pumps. However, the rates charged can vary widely with some similar to home mortgage rates while others can range up to a prohibitive 20%. These loans can be for one to ten years in duration and are likely to have application fees as well.
Consider using finance brokers to get the best personal loan
The emergence of ethical finance brokers, who specialize in ‘green‘ credit, has made the task of finding the best personal loan more accessible and manageable. The following ‘green’ finance brokers are popular and attract positive reviews from clients.
Smart Me
The authoritative Solarquotes organisation has partnered with finance company Smart Me. If you go to solarquotes.smartme.com.au you will be put in contact with certified solar finance experts who will scan the full range of banks and other financial lenders to get the best available credit option for your circumstances.
Parker Lane
All the local solar installers that are listed on the Electrify Bouddi website refer customers requiring credit to one specific finance broker – Parker Lane. Parker Lane is a broker for all types of loans but has established a specific green loan expert capability. It is currently advertising green personal loans for 5.99% (comparison rate up to 7.25%) for eligible homeowner applicants. You can get a fast quote for solar installations at parkerlane.com.au
