So you’re keen on solar—but you’re not so keen on the upfront costs. Brighte Captial’s Green Loan is a popular way to finance the purchase of a new solar power system.
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 summer of hot weather without putting that Aussie sun to good use, or get the ball rolling with a Brighte Green Loan.
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, Brighte offers a competitive interest rate with the ability to apply online and receive a decision within 1-2 business days. Brighte’s Green Loan can be used to finance Solaray solar power systems and battery storage between $1,000 to $30,000 and can be repaid across terms ranging from 2-7 years.
How does that look in practice?
The average monthly benefit of a 10kW system can see you break even in about 4-5 years. Across 25 years, your profits can stack up as high as $125,000 (and that’s why it’s important to choose a reputable product that’s going to last)!
To be eligible to apply you must:
- Be over 18 years old and an Australian resident or citizen
- Own or be purchasing a home
- Be employed, self-employed, a self-funded retiree; or is receiving the Government Age Pension
- Have an Australian driver’s license or Passport
- Provide two most recent payslips or 90 days of bank statements
Once you have received your Brighte Green Loan referral from Solaray, you can apply online. The Brighte Green Loan application is completed online, and the Brighte team are available to assist with your application if required. Once approved, often a decision is received within 1-2 business days, we will kick off your install planning to get you installed as soon as possible, normally within around 2-4 weeks.
Tom and Marie installed a 10kW Solaray system using $4000 in savings and a Brighte Green Loan for the remaining $6000.
They use 70% of the solar power generated and export 30% of the solar power to the grid. They pay 30c per kWh and have a feed-in tariff of 20.c per kW/h.
Tom and Marie are thrilled to be saving over $3000 a year on their power bills.
The Brighte Green Loan repayments are $71.00 a fortnight over 4 years, or $1846 a year
Taking their savings into account, the solar system is cash flow positive from day 1, as their monthly savings are larger than the monthly repayments, and then after just 4 years, they are getting free solar power to help reduce their power bills by well over $3000 a year.
Tom is surprised at how well the numbers stack up even on the better quality solar systems.
Although Tom had the savings needed to pay for the system upfront, he was comfortable with a Brighte Green Loan for $71 a fortnight, especially considering the savings on his quarterly power bill offset 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.
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Bright’s Awards Include:
5.89% p.a.* fixed interest rate Comparison rate 6.76% p.a.^ Establishment fee of $299 added to the loan amount. $1.50/ week account keeping fee included in repayments.
Credit provided by Brighte Capital Pty Ltd (ABN 74 609 165 906). Australian Credit License Number 508217.
* Information and interest rates are current as at 26 March 2021 and are subject to change. Fees applicable include: Establishment fee of $299 and $1.50/weekly account keeping. Late payment fee of $4.99 may be charged by Brighte if you miss a repayment. All applications for credit are subject to Brighte’s credit approval. Fees, terms and conditions apply.
^ Comparison rate calculated on an unsecured loan amount of $30,000 over a term of 5 years based on fortnightly repayments
WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.