Apply for a solar loan
To apply for a solar loan you will need to provide:
- a quote from an eligible solar supplier
- your most recent council rates notice
- either 6 or 12 months of electricity bills (demonstrating electricity costs at your home of more than $1,000 over the past 6 months or more than $2,000 over the past 12 months)
- a Centrelink statement confirming you receive Family Tax Benefit Part B
- proof of income to assess your ability to repay the loan.
As part of your application you will need to agree to a credit check.
You must upload these documents into the application portal—first time users will need to register. You can either scan them or take a clear photo with your smart phone or digital camera.
For more information on how to apply and proof of income requirements, read the guidelines for applicants.
Benefits of a solar loan
Mrs Smith lives in regional Queensland and purchases a 3 kilowatt solar system with an interest-free loan. Her monthly repayments for a solar loan of $4,500 over 7 years are around $54 per month, or around $645 per year.
Her 3 kilowatt system generates around 4,600 kilowatt-hours of electricity per year and she uses around 65% of this in her home as she is often using power during the day. She saves around $1,000 per year on her electricity bill, including feed-in tariff payments. Therefore, she makes a total saving of around $355 per year ($1,000 saving - $645 loan = $355 total saving).
Note, a home in South East Queensland that pays less for electricity will save less each year from a solar system.
- Read more about the financial benefits of solar power.