Green Loans for Solar Panels

A green loan is a type of personal loan specifically designed to finance buying environmentally friendly products and upgrades. At Handy Finance, we offer green loans of between $2,001 and $75,000. While most personal loans have a term of between one and seven years, Handy Finance Green Loans can be paid back over a term of between one and ten years. You can easily and quickly apply for a green loan online. Our credit team will review your application and send an indicative decision within minutes. All our green loans are tailored to your financial situation.

When you secure a Handy Finance loan, the only fee you must pay is the establishment fee. This fee is included when calculating your repayments to provide a more accurate total loan amount.

Other than this, no extra fees are attached to your green loan. All Handy Fiance loans have a $0 repayment fee, so you can pay off your loan early without an extra cost.

To apply for a green loan, which can be used for solar panel installation, you must be:

• An Australian citizen or permanent resident
• 18 years of age or older
• Have no history of financial hardship with other loan providers
• Have a regular source of income via employment (including self-employment)

You can be pre-approved for a Handy Finance Green Loan, the loan you can take out to finance solar panel installation. Applying is an easy and quick way to gauge your borrowing power. You can apply online by submitting all the relevant documentation. Our loan experts will review your application and share an indicative quote. A pre-approval for a green loan lasts for one month. Once this period has passed, we’ll need to reassess your application.

Handy Finance Home Renovation Loans can cover solar panel installation expenses. This might be the better option if you want to take out a loan covering a range of home improvements, including solar panel installation.

It’s important to remember that green loans are created specifically so you can upgrade your home with greener technology, which is reflected in the loan terms. If you’re not sure which loan is the right one for you, get in touch with one of our loan experts today, who can help you decide which loan will fit your financial situation best.

Yes, you can! Having environmentally friendly tech already installed won’t affect any applications for green loans. When you apply for a green loan with us, we judge your application on your financial circumstances and how well you match up to the eligibility criteria, not on what you have already installed in your home.

If this is the case with the Approved Solar Retailer you’ve chosen, make sure that you’ve researched average deposit amounts and are clear on the terms of the contract you are signing. 

One of the benefits of taking out a green loan for solar panels is that you can cover any upfront costs or deposits that are required. Upfront deposits are common, so make sure you are prepared for this expense. Once the Handy Finance team has approved your loan application, the funds will be released into your account within 24 hours.

Yes, it is recommended that you verify the brand and model of the solar panels that are being installed. Solar panels should meet Australian standards and come with reliable warranties.

There are several different Australian government initiatives and rebates to encourage the adoption of greener technologies around the home. You can read more about what you might be eligible for when you visit Clean Energy Regulator, the government’s resource households installing solar panels. You can also find out what rebates you are eligible for depending on where you are located by referencing the Australian Government’s energy rebates and assistance page.

This includes information about claiming the small-scale technology certificate rebate (STC), how to choose the best solar panel system for your home and links to finding an Approved Solar Retailer.

For more information about rebates or tax deductions you may be eligible for, visit the Australian government’s Clean Energy Regulator.