Solar makes the most financial sense when you can pay for your system up front. Not having to pay interest on a loan means you get the full benefit of your savings from day one.
If you need a solar electric system, but haven’t got the funds right now, financing can help.
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 the solar is helping to repay your mortgage.
Unlike other countries, the New Zealand government does not provide any incentive to install solar power. The reason is simply because our electricity system is 80% generated by renewable energy. The government is not focussed on electricity as the sector to reduce our greenhouse gas emissions. For residential customers there is only one option for assistance and that comes from Kiwibank. Click here to view details of their Sustainable Energy Loan. If you are a charity, a community group, or a school, then you may have other options for funding. It may pay to make application for grant funding especially as funding providers may appreciate the benefit to your bottom line and the sustainability hallmark that comes with solar.