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 the 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 because our electricity system is 85% generated by renewable energy. The government is not focussed 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 offer 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 $10,000 interest free for five years. Click 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 application for grant funding especially as funding providers may appreciate the benefit to your bottom line and the sustainability hallmark that comes with solar.
