Finance

Solar cost benefits

 
 

People invest in solar to save money over the long term. We're very savvy now about how to get the most value for money from your solar installation.

You save money in three main ways

  • You will use less electricity from the grid
  • You will be paid for excess power that you don’t use
  • Sophisticated monitoring helps you be more energy efficient

If you need a solar electric system, but haven’t got the funds right now, financing can help.

Return on investment

Installing a solar system is an investment that pays great returns. Most residential systems completely repay their initial cost within 8-10 years. Commercial systems have even shorter repay periods. After that it’s all money in the bank.

And with solar panels guaranteed to still be producing 83 - 92% of their power after 25 years, the benefits are long term. That’s why houses with solar systems installed can command a premium in resale value.

How to pay?

 
 

Solar makes the most financial sense when you can pay for your system upfront. Not having to pay interest on a loan means you get the full benefit of your savings from day one. All of this equates to a tax-free return on investment. It's better than having savings in the bank. Why not invest instead in your own power generation system? With rising power prices, smarter solar technology and low prices, there has never been a better time to invest in solar!

Adding to your mortgage

If it’s going to take more than a few years to pay your system off with Finance, then we recommend that you try to add the cost to your mortgage. Most banks are very willing to provide a top-up to your loan—especially as they will know that solar is helping to repay your mortgage.

Grants and subsidies

Unlike other countries, the New Zealand government does not provide any incentive to install solar power. The reason is simply that our electricity system is 85% generated by renewable energy. The government is not focused on electricity as the sector to reduce our greenhouse gas emissions. For residential customers, we know of two options for assistance at the moment.

  • Kiwibank offers a sustainable energy mortgage top-up that gifts $2,000 towards your system. Click here to view details of this.

  • Westpac will top-up your mortgage with up to $40,000 interest-free for five years. Click here to view details.

  • ANZ, BNZ, or ASB will top-up your mortgage with a loan up to $80,000 at 1% fixed for three years. Click here, here, or here to view details.

If you are a charity, a community group, or a school, then you may have other options for funding. It may pay to make an application for grant funding especially as funding providers may appreciate the benefit to your bottom line and the sustainability hallmark that comes with solar.