RateSetter Solar Green Loan
So you’re keen on solar—but you’re not so keen on the upfront costs.
Many of us don’t have the cash lying around to install a solar system right away. We’re left with a choice; sweat through another season of heatwaves without putting that Aussie sun to good use, gamble on a cheap system that’s unlikely to last, or get the ball rolling with a solar green loan from Rate Setter.
With a Green Loan, your repayments can often be less than your solar savings, leaving you better off from day one!
Designed to make environmentally-friendly investments easier, these loans are low-interest, flexible, quicker to apply for than your usual bank loan, and they are able to be managed online. Green Loans from RateSetter can be used to finance Solaray solar power systems and battery storage up to $45,000, to be repaid across 3-7 years.
How does that look in practice?
The average monthly benefits of a 5kW system can see you break even in about 4 years. Across 25 years, your profits can stack up as high as $50,000 (and that’s why it’s important to choose a reputable product that’s going to last)!
RateSetter Green Loans are made possible thanks to funding by the Clean Energy Finance Corporation (CEFC) to increase the uptake of renewable energy and energy-efficient technology.
To qualify, you’ll need to have the basics covered:
– Over 21 years of age
– Australian citizen/permanent resident or New Zealand citizen
– A regular source of income
– A good credit history
On top of that, you have to be buying the right kind of product. Fortunately, all Solaray systems qualify!
Our sales representatives will be happy to assist you with your loan application. Your rate estimate only takes a few minutes to complete and it is not recorded on your credit score. We can either provide a link for you to do this, or we can help you do it over the phone.
Once you have your personalised repayment figures, you can then apply online, which only takes around 5 minutes. Once you have approval from RateSetter, we will kick off your install planing in order to get you installed as soon as possible, normally within around 2-4 weeks. Approvals with RateSetter are also very quick, in some cases, they are even instant.
Ready to get started? Request a callback for more information and a quote for installation:
3kW System Example
John installed a 3kW (10 x 300W panels) Solaray system using a green loan for $5,000.
John uses 70% of his solar power as it is generated and exported 30% of the solar power to the grid. He pays 28c per kW/h and has a feed-in tariff of 12c per kW/h.
John is thrilled to be saving around $1,100 a year on his power bill.
The Green loan repayments are $173 a week over 3 years, however, he could have chosen just $89 a month over 7 years. The reason he chose 3 years was to minimise his total interest payments.
Taking his power bill savings into account, the solar system is only costing John $18.50 a week, and then after just 3 years, he is getting free solar power to help reduce his power bills. John is surprised at how well the numbers stack up and how easy it was to go solar.
John was comfortable with a green loan because although they didn’t have the savings to pay for the system upfront, he could easily afford the $18.50 a week, and the total interest payable over 3 years was very low. He was also happy that there were no hidden fees or charges, and that all of these figures were made clear by his Solaray representative.
Tom and Marie installed a 5kW (16 x 310W panels) premium Solaray system using a green loan for only $6000.
They use 70% of the solar power generated and exported 30% of the solar power to the grid. They pay 28c per kWh and have a feed-in tariff of 12c per kW/h.
Tom and Marie are thrilled to be saving $1,850 a year on their power bill.
The Green loan repayments are $133 a month over 60 months, however.
Taking their savings into account, the solar system is only costing Tom and Marie $21.50 a month, and then after just 5 years, they are getting free solar power to help reduce their power bills by over $1800 a year. Tom is surprised at how well the numbers stack up as solar systems have dropped in price dramatically over the last few years.
Although Tom had the savings needed to pay for the system upfront, he was comfortable with a green loan because he could easily afford the $133 a month, especially considering the savings on his quarterly power bill offset most of this figure. Marie was happy that there are no hidden fees or charges, and that all of these figures were made clear by their Solaray representative.
Important: The figures in these examples are for illustration purposes only and may not be accurate in your circumstance. Actual Savings will vary based on individual energy usage patterns and costs. Please contact your Solaray representative for personalised figures and a full quote.