A New Zealand Home Loans Sustainable Energy Loan can make it easier for you to get a solar, small wind or mini hydro power system for your home. (Please note specific criteria applies and may not be available to all clients, please see terms and conditions below)
Imagine if you had a free source of power that never ran out and didn’t produce any CO2 emissions… you’d be buffered against rising power prices, and keeping New Zealand clean and green at the same time.
Install a system that produces renewable energy (like solar panels to heat your hot water), and we’ll kick in some cash to help you pay it off faster.
At the end of the first year, we’ll pay $800 off your sustainable energy loan, and we’ll contribute $400 at the end of each year for the three years after that – up to $2,000 in total.
To qualify for the contributions towards your sustainable energy loan, you’ll need to borrow at least $5,000 of the cost of the system.
Any type of energy system that’s professionally installed and creates energy from renewable resources could qualify. This includes:
To qualify for the loan, systems must be supplied and installed by a company that’s a member of either:
Their websites have directories of all their suppliers. Look for a system that provides a warranty of around 10 years on manufacture and install, and 25 years on system output. Please make sure you’re comfortable that the system you choose is exactly what you need.
Your supplier should be able to give you specific costs and information on return, but an average solar hot water system starts at around $7,000 – and a full power system can cost tens of thousands, depending on things like the size of the house and the amount of power you use.
You may not want – or be able to afford – a system that produces all of your power, but even a solar hot water system could save you over $650 a year in power costs. That’s around $18,000 over its lifetime – as well as potentially adding value to your home when the time comes to sell.
Give us a call on 0800 debt free (0800 332 837) to talk through your options. Or click the button below and send us a message.