The average Australian household’s solar needs are met by installing a 5kW system.
With the current government rebate coming in at [maxrebates] (for a 6.6kW system)*, your total investment will be in the $4,000 – $8,000 range**.
With an average payback period of 3.2*** years, that’s a Return on Investment [ROI] of 31.4%. And after that 3.2 years is over, not only has the system paid for itself, but you’ll continue to save $1,568*** a year on your electricity bill.
Yup, that all sounds fantastic right, but there’s still the matter of paying up to $8,000.
Here are some options readily available:
- Line of credit/Mortgage redrawAn extremely popular option with Australians who have enough equity in their home, is to request a line of credit or mortgage redraw. This option allows for immediate cash to become available and is simply added to the mortgage. With today’s super low interest rates, it’s definitely worth investigating.
- Credit CardWe know that some of you see credit cards as a four-letter word, but for the rest of you, using a credit card for a large purchase [or in this case, investment], might prove to be the easiest option to fast-track your solar investment.
- FamilyDepending on your family’s financial situation and your current relationship, a family member could be the financial conduit to facilitating your solar investment. Promoting the fact that solar is an indeed an investment and a solid one at that, might be just the sentiment required to get that family loan.
BONUS TIPLook for a quote from a solar installer that offers financing options. This will help to stream line your investment process, dealing with only your preferred solar installer.
With options 2 and 3, you’ll easily be able to manage the repayments because you’ll be saving around $1,568*** a year, with will easily make up your repayments. So, the system is essentially paying for itself.
Not only is solar cheaper than you think to in invest in, it’s also easier than you think.
Simply provide us with some basic information and we’ll organise for 3 local providers to quote you on a new solar system. These quotes are free, allowing you to make the smartest solar investment for your household.
Get started with your 3 obligation free quotes now.
**Price range is based on the average prices suggested by different installers who carry different brands
***Based on a household living in the 6000 zip code, with a 5kW system that they paid $5,000 for.