The new home loan offers a 0.60% p.a. (60 basis point) interest rate discount for five years to borrowers who install a qualifying solar power system.

To be eligible, it must be large enough to make a real impact on the power it takes from the grid.

On an average home loan of $450,000, this 0.60% discount equals $13,500 in savings over the five years.

This is more than the upfront cost of a 10kWh solar system - the largest commonly available.

The solar home loan currently starts at an interest rate of 4.63% p.a. for owner occupiers and 4.89% p.a. for investors, and is available for loans up to 90% LVR.

New and existing customers who install a solar energy system are able to apply. Managing Director Marie Mortimer said the new solar home loan has come at the right time with higher interest rates, inflation, and an unprecedented increase in power bills beginning to take their toll on homeowners.

We know people are mindful of their budgets right now due to the rising cost of living and especially soaring power costs, so we’ve launched a loan which really helps families during what is becoming a very difficult period economically,” Ms Mortimer said. 

“Our solar home loan will help people cut their mortgage repayments and their energy bills, while also fighting climate change by moving them to clean, renewable solar power.” 

The solar home loan was developed with the support of the Federal Government’s Clean Energy Finance Corporate (CEFC).

Since April, Aussies are forking out an average of $300 more for electricity, with experts anticipating a rise of at least another 35% throughout 2023.

See Also: How you can increase your home value by up to 10% with sustainable features

In the interests of full disclosure, is an associate of and Firstmac.


Building or buying an energy-efficient home? This table shows some of the lowest interest rates in the market for 'green' home loans.


VariableMore details
90% LVR
  • You MUST already have Solar or a documented plan to install within 90 days to be eligible for this loan
  • Available for refinance or purchase
  • No monthly, annual or ongoing fees
90% LVR – Solar Investor Loan (Principal & Interest) (LVR < 90%)

  • You MUST already have Solar or a documented plan to install within 90 days to be eligible for this loan
  • Available for refinance or purchase
  • No monthly, annual or ongoing fees
FixedMore details

Bank Australia – Clean Energy Home Loan Package - Eco Plus Fixed 3 Years (Principal & Interest) (LVR < 90%)

    VariableMore details

    Gateway Bank – Green Plus Home Loan (Principal and Interest) (LVR < 80%)

      VariableMore details

      Summerland Bank – Eco Investment Loan (New Customer) (LVR < 60%)

        VariableMore details

        Gateway Bank – Green Plus Investment Loan (Principal and Interest) (LVR < 80%)

          VariableMore details

          Regional Australia Bank – Sustainable Home Loan (Principal and Interest)

            VariableMore details

            Firstmac – Solar Investment Loan (Principal and Interest) (LVR < 90%)

              Important Information and Comparison Rate Warning

              Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to be made on variables as selected and input by the user. Some products will be marked as promoted, featured or sponsored and may appear prominently in the tables regardless of their attributes. All products will list the LVR with the product and rate which are clearly published on the product provider’s website. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. *The Comparison rate is based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Rates correct as of December 11, 2023. View disclaimer.

              Image by Watt A Lot via Unsplash

              Ready, Set, Buy!

              Learn everything you need to know about buying property – from choosing the right property and home loan, to the purchasing process, tips to save money and more!

              With bonus Q&A sheet and Crossword!

              By subscribing you agree to our privacy policy