A green loan in Australia costs anywhere from 0% to about 10% a year in November 2026, depending on who lends it. State zero-interest loans in NSW and WA are cheapest, bank loans backed by the federal Household Energy Upgrades Fund advertise 3.74% to 4.99% for existing home loan customers, and non-bank green loans start near 10% plus fees. On a A$12,000 system over 10 years, that gap is worth up to about A$8,900.
Rates were read from each lender’s own page in November 2026 and will change.
Key facts
- As at November 2026, the federal Household Energy Upgrades Fund is a A$1 billion Clean Energy Finance Corporation program that discounts green finance through Plenti, Westpac, ING Australia, Bank Australia, Commonwealth Bank, Brighte and Plico.
- The Westpac Sustainable Upgrades Home Loan advertised a 4.99% p.a. variable rate (4.99% p.a. comparison rate) on A$4,000 to A$50,000 over up to 10 years with no establishment or monthly fees, checked 12 November 2026.
- The NSW Home Energy Saver loan lends up to A$15,000 at zero interest over up to 10 years, and on 10 November 2026 the NSW Government cut its household income limit from A$210,000 to A$150,000.
- The ACT Sustainable Household Scheme charges 3% interest on A$2,000 to A$20,000 as at November 2026 (A$15,000 for participants approved before 1 July 2026) and no longer covers rooftop solar panels for standard applicants.
What is a green loan, and how is it different from a solar loan?
A green loan is a loan that can only be spent on approved energy upgrades such as solar panels, batteries, heat pumps and EV chargers, usually at a lower rate than an ordinary personal loan. “Solar loan” is the everyday name for the same thing when the purchase is a solar or battery system.
Green loans come in three forms. A green personal loan is unsecured, a green home loan top-up is a separate slice of your mortgage, and a payment plan, often sold as “interest free”, is buy now pay later finance.
The comparison rate is the number to compare. A comparison rate is the interest rate plus most upfront and ongoing fees, expressed as one yearly percentage for a standard example loan. On small loans with weekly fees it can sit well above the advertised rate.
Who offers green loans in Australia, and what are the rates?
As at November 2026, the cheapest advertised green loan rates come from banks lending to their own mortgage customers, at 3.74% to 4.99% p.a., while non-bank lenders that work through solar installers advertise from 9.99% to 10.49% p.a. The table shows advertised rates from each lender’s own product page, checked 12 November 2026.
| Lender and product | Type | Advertised rate (comparison rate) | Amount and term | Fees and conditions |
|---|---|---|---|---|
| ING Green Upgrade Loan | Mortgage sub-account | 3.74% p.a. fixed for 5 years (5.36% p.a. owner-occupier) | A$5,000 to A$50,000 | No upfront fees. Needs an ING home loan of A$150,000 or more and a loan-to-value ratio of 80% or less. Reverts to a variable rate after 5 years |
| CommBank home energy personal loan | Unsecured personal loan | 4.49% p.a. fixed (4.49% p.a.) | A$4,000 to A$50,000, 1 to 7 years | No establishment or monthly fee. Eligible CommBank home loan customers only. Solar must be 6 kW or larger, batteries 5 kWh or larger |
| Westpac Sustainable Upgrades Home Loan | Mortgage sub-account | 4.99% p.a. variable (4.99% p.a.) | A$4,000 to A$50,000, up to 10 years | No establishment or monthly fees. Needs a Westpac home loan of A$150,000 or more |
| Brighte Green Loan | Unsecured personal loan | From 9.99% p.a. fixed (11.70% p.a.) | A$2,000 to A$65,000, 2 to 10 years | Establishment fee from A$199, A$2.99 a week, no early repayment fee |
| Plenti Green Loan | Unsecured personal loan | From 10.49% p.a. (from 11.61% p.a.) | A$2,000 to A$45,000, 3 to 10 years | A$8.99 monthly fee, no early repayment fee |
The old CommBank Green Loan, a secured loan still quoted on some comparison pages, has been closed to new customers since 1 October 2025, according to CommBank’s list of withdrawn products. Non-bank comparison rates are calculated on a A$30,000 loan over 5 years, so a smaller loan carries a heavier fee load than the comparison rate suggests.
What is the Household Energy Upgrades Fund?
The Household Energy Upgrades Fund (HEUF) is a A$1 billion federal program in which the Clean Energy Finance Corporation (CEFC) gives lenders cheap funding so they can discount green loans. You apply to a participating lender, which assesses you under its own credit rules.
As at November 2026, the Department of Climate Change, Energy, the Environment and Water lists seven participating lenders: Plenti, Westpac, ING Australia, Bank Australia, Commonwealth Bank, Brighte and Plico. Plico offers subscription plans rather than loans (see our Plico Energy review), and the CEFC says the Bank Australia discount has been fully used.
The HEUF discount often excludes solar panels on their own. Plenti’s HEUF page says solar-only customers do not qualify, while solar with a battery does, with discounts of up to 2.5 percentage points. The Westpac, ING and CommBank products do list solar panels.
Which states offer zero-interest solar loans?
As at November 2026, NSW and WA offer zero-interest government loans that cover solar or batteries for most households, Victoria offers a small one tied to its solar rebate, the ACT charges 3%, and Tasmania’s scheme has closed. The table shows the status of each scheme, checked on government pages on 12 November 2026.
| State scheme | Interest | Amount and term | Who qualifies | Status, November 2026 |
|---|---|---|---|---|
| NSW Home Energy Saver loan | 0% | Up to A$15,000 over up to 10 years | Homeowners and landlords with combined taxable household income up to A$150,000 | Open, through Brighte and Plenti |
| WA Residential Battery Scheme loan | 0% | A$2,001 to A$10,000 over up to 10 years | Households with combined income under A$210,000. A battery must be part of the install | Open, through Plenti |
| Victoria Solar Homes loan | 0% | Up to A$1,400 over 4 years (A$29.17 a month) | Owner-occupiers with combined taxable income under A$150,000, taken with the solar panel rebate | Open. The battery loan closed in May 2025 |
| ACT Sustainable Household Scheme | 3% | A$2,000 to A$20,000 over up to 10 years | ACT homeowners. Covers batteries, not rooftop solar panels | Open, through Brighte |
| Tasmania Energy Saver Loan Scheme | 0% | Up to A$10,000 | Closed | Ended early in late August 2025 when funding ran out, ABC News reported in September 2025 |
NSW. The NSW Government’s Home Energy Saver page, updated 13 November 2026, says the income limit fell from A$210,000 to A$150,000 on 10 November 2026, with applications lodged before 9 am that day assessed at the old limit. The separate discount of up to A$4,000 is open. See our NSW solar rebate guide, WA guide, Victorian guide, ACT guide and Tasmanian guide for the detail. A government loan is still a debt with a credit check, and it does not make an overpriced quote good value.
Solar loan calculator: what does a A$12,000 system cost under three options?
A A$12,000 solar and battery purchase repaid over 10 years costs A$12,000 on a zero-interest government loan, about A$15,270 on a 4.99% bank green loan and about A$20,890 on a 9.99% non-bank green loan with weekly fees. The working is below.
Assumptions: A$12,000 is the amount financed after the federal solar and battery discounts, repaid monthly over 10 years with no extra payments. Rates are the lowest advertised in November 2026 and stay unchanged, which a variable rate will not.
| Option | Rate and fees used | Monthly cost | Total repaid | Cost of finance |
|---|---|---|---|---|
| 1. NSW Home Energy Saver loan | 0%, no fees assumed | A$100.00 | A$12,000 | A$0 |
| 2. Westpac Sustainable Upgrades Home Loan | 4.99% p.a. variable, no fees | A$127.22 | A$15,266 | A$3,266 |
| 3. Brighte Green Loan | 9.99% p.a. fixed, A$199 establishment fee added to the loan, A$2.99 a week | About A$174.10 (A$161.14 plus fees) | A$20,892 | A$8,892 |
Term matters as much as rate. Repaying option 3 over 5 years instead of 10 lifts the monthly cost to about A$272 but cuts the cost of finance to about A$4,325.
Should I add solar to my mortgage?
Adding solar to your mortgage gives the lowest rate most households can get, but only saves money if you repay it quickly.
The arithmetic: A$12,000 at 4.99% costs A$3,266 in interest over 10 years, and A$9,024 over 25 years, at an unchanged rate. Ask for a separate sub-account or set your own extra repayment so the solar portion is gone within 5 to 10 years. Mortgage finance also puts your home up as security and can involve valuation or variation fees.
Is interest free solar finance really free?
No. Interest free solar finance is buy now pay later credit where you pay fees instead of interest, and the solar retailer pays the finance company a merchant fee that can be recovered through the system price.
Brighte’s 0% Interest Payment Plan is a typical example. As at November 2026 it finances up to A$60,000 over 6 months to 10 years, with a A$75 establishment fee and a A$2.30 weekly account fee, or A$1,271 in fees over 10 years.
The larger cost is not on the contract. SolarQuotes, on its solar finance page updated 9 November 2026, puts the merchant fee on these plans at 15% to 25% of the system price. Finance companies do not publish these fees, so we could not confirm the range. Ask for the cash price of the identical system in writing.
How is interest free solar finance regulated?
Buy now pay later finance has been regulated credit in Australia since 10 June 2025, when providers had to hold an Australian credit licence and join the Australian Financial Complaints Authority, according to ASIC Information Sheet 285.
The New Energy Tech Consumer Code (NETCC) is the voluntary industry code that approved solar and battery sellers sign. Clause 25 of the current code says a signatory offering finance must use a licensed or approved credit provider and show the total cost under finance beside the cash price of the same system. The NETCC website says an updated code takes effect on 1 December 2026, and we have not reviewed its finance clauses.
What to check on your quote and finance contract
Check the price first and the finance second, because cheap finance on an inflated quote is still an expensive system.
- Get the cash price and the financed price for the same system in writing.
- Compare at least three quotes using our guide to comparing solar quotes, and shortlist installers from the Solar Cobber directory.
- Read the comparison rate, then add up every fee over the full term.
- Confirm the lender’s Australian credit licence number on ASIC’s professional register.
- Keep the loan term shorter than the product warranty.
- Remember the loan continues even if the installer stops trading, as our solar company failures tracker shows.
- Check the seller on the NETCC approved seller list and the installer on the Solar Accreditation Australia register yourself. See choosing a solar installer.
FAQ
What is the cheapest way to finance solar in Australia?
The cheapest way to finance solar in Australia in November 2026 is a zero-interest state government loan if you qualify, such as the NSW Home Energy Saver loan or the WA Residential Battery Scheme loan. Bank green loans for existing customers, at 3.74% to 4.99% p.a., come next.
What is the interest rate on a green loan in Australia?
Advertised green loan rates in Australia ranged from 3.74% p.a. to 10.49% p.a. in November 2026, before fees. Bank products for existing home loan customers sat between 3.74% and 4.99% p.a. Brighte and Plenti started at 9.99% and 10.49% p.a.
Can I get a no interest solar loan from the government?
Yes, in some states. As at November 2026, NSW lends up to A$15,000 at zero interest to households earning up to A$150,000, WA lends up to A$10,000 for installs that include a battery, and Victoria lends up to A$1,400 with its solar rebate. The ACT charges 3% unless you hold a concession card, and Tasmania’s scheme closed in 2025.
Is solar battery finance different from solar finance?
Solar battery finance uses the same loans as solar finance, but batteries qualify for more of the discounted products. Check the eligible product list before you choose a lender.
Is it better to pay cash or finance solar?
Paying cash is cheaper than any loan that charges interest or fees, if it does not drain your savings. A zero-interest government loan costs the same as cash.
Sources
- Household Energy Upgrades Fund, DCCEEW (page updated 1 May 2026)
- Household Energy Upgrades Fund, Clean Energy Finance Corporation
- Westpac Sustainable Upgrades Home Loan
- ING Green Upgrade Loan
- CommBank home energy loans and CommBank products no longer for sale
- Brighte Green Loan, Brighte HEUF Discounted Green Loan and Brighte 0% Interest Payment Plan
- Plenti Green Loans and Plenti HEUF discounted green loans
- Home Energy Saver, NSW Government (updated 13 November 2026)
- WA Residential Battery Scheme, WA Government (updated 15 October 2026) and Plenti applicant page
- Solar Victoria solar panel rebate, SolarQuotes solar finance and ABC News on the Tasmanian loan scheme ending
- Sustainable Household Scheme, ACT Government
- ASIC Information Sheet 285, buy now pay later credit licensing
- New Energy Tech Consumer Code, clause 25
About this guide
Written by the Solar Cobber editorial team from independent desk research checked in November 2026. We did not contact any lender or apply for any loan. Solar Cobber is a free directory that may earn referral or advertising fees from installers, and commercial relationships never affect content. This is general information, not financial advice. Corrections: /contact.
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