Solar Power for 0% deposit?
Switching to solar power is a smart move for both the environment and your wallet, and now, it's easier than ever for New Zealanders to make the switch.
With interest rates as low as 0% to 1% through major lenders, installing solar panels on your home can be a reality without the need for a large upfront payment. While terms and conditions vary between lenders, the common theme is making solar power more accessible to everyday Kiwis.
How Does it Work?
Many major lenders in New Zealand have recognized the growing demand for solar power and have introduced special loans to make it more accessible. Here’s how it typically works:
Assessment and Approval: The first step is to get in touch with a solar provider like Smart Solar, who can assess your home’s suitability for solar panels and provide you with a quote. Once you have the quote, you can approach a lender for a solar loan.
Loan Application: You’ll need to apply for the loan through the lender. If approved, you can finance the total cost of the solar installation with little to no deposit required.
Installation: Once the loan is approved, we will come and install your new solar setup.
Repayment: You’ll start repaying the loan according to the terms set by the lender. The repayment period can vary, but the savings on your electricity bills could help offset these costs!
Is Solar Right for You?
If you’re considering solar power, now is a great time to explore your options. With the availability of 0% to 1% deposit loans, the barriers to entry have been significantly lowered, allowing more New Zealanders to enjoy the benefits of renewable energy. Whether you’re looking to reduce your electricity bills, increase your home’s value, or do your part for the environment, solar power could be the perfect solution.
The beauty of this option is that you can start saving on your electricity bills right away, often with your monthly savings exceeding the cost of the loan repayments. Heck yes!
