Solar Financing and Loans in New Zealand
Upfront installation costs often hold back solar installations for homes and businesses.
The solution in New Zealand? Solar financing!
These loans let you install solar now and pay it off over time, without high interest or big upfront payments.
Major banks in NZ now provide green loan options for home solar, battery systems, and full commercial installations.
What Solar Financing Covers For Homes And Businesses
Solar loan or Green Loan programs make it easier to invest in solar, covering everything from basic setups to full hybrid or off-grid systems.
Solar loans in New Zealand can cover:
- Home solar panel and battery installations
- Commercial solar panel systems
- Hybrid solar setups
- Off-grid solar upgrades
- Installation costs and energy storage systems
No matter the system size, solar financing helps manage costs and boost long-term savings.
Green Solar Loans New Zealand
Below are 6 green loan offers from trusted banks in New Zealand. Each one supports home solar upgrades, and some are suitable for commercial solar panel financing.
1. ANZ Good Energy Home Loan
If you have an existing ANZ home loan, this top-up option helps fund solar panels, batteries, and installation.
- Loan amount: $3,000–$80,000
- Interest rate: 1.00% p.a. fixed for 3 years
You can also access extra finance for EV chargers or other sustainable upgrades.
2. BNZ Green Home Loan Top Up
This low-rate loan helps fund solar energy upgrades, from panels and batteries to system design and installation.
- Loan amount: Up to $80,000
- Interest rate: 1.00% p.a. fixed for 3 years
Multiple top-ups may be available for different green improvements on the same property.
3. Kiwibank Sustainable Energy Loan
If your loan is over $5,000, you could receive up to $2,000 in contributions over four years. An $800 credit is given after year one, and $400 each year for the next three years.
- Loan term: 7–10 years
- Interest rate: Variable
Besides the repayment support, there’s no top-up fee for current Kiwibank mortgage holders.
4. Westpac Greater Choices Home Loan
This is an interest-free loan for existing Westpac Choices home loan customers. It covers the cost of solar panel systems and installation, with no setup fees.
- Loan amount: Up to $50,000
- Interest rate: Interest-free for 5 years
The best part — you can pay it off early at any time with no penalties.
5. ASB Better Homes Top Up Loan
This loan is designed for existing ASB mortgage customers. It helps fund solar energy systems with a low fixed interest rate of 1.00% p.a. for 3 years. After the fixed term, standard rates apply.
- Loan amount: Up to $80,000
- Interest rate: 1.00% p.a. fixed for 3 years
If you’re planning a long-term solar setup, the extended terms and low rate make this loan a strong fit.
6. QCard Finance
QCard customers can access short or long-term interest-free finance for solar systems, with no deposit required. Monthly repayments start from 3% of the balance or $10.
- Loan type: Interest-free for up to 36 months
- Minimum spend: $500
Fees apply for new and existing users.
When To Consider Solar Financing In New Zealand
Solar finance makes sense in key situations, especially when:
- Upfront costs would delay installation
- Steady monthly payments suit your budget
- Expanding an existing system is part of the plan
- Battery storage or off-grid capability is needed
- Limited-time bank incentives are available
- Reducing electricity costs can’t wait
Timing matters. Choosing finance at the right stage can make solar more achievable and cost-effective.
Solar Rebates and Incentives New Zealand
Nationwide cash rebates aren’t available, but banks offer green loans with low or zero interest that help reduce solar installation costs.
Some councils also provide small grants or support for energy-efficient upgrades, depending on your location.
The Community Renewable Energy Fund supports local solar projects, and a new interest-free loan scheme for households is set to begin in 2025.
Commercial Solar Financing Options
MV Electrical also supports commercial solar panels financing for businesses wanting to cut energy costs. Owners of commercial properties can use green loans to fund large-scale solar installations, battery systems, and off-grid projects.
Some banks may allow business borrowers to use home loan top-ups if the solar system is installed on a mixed-use property.
For full commercial systems, dedicated business loans or equipment finance may be more suitable. We’ll guide you through these options during your quote process.
How To Get Started
Based in Hamilton, MV Electrical works with both homeowners and business owners across the Waikato region to design and install solar systems that suit your energy goals, property layout, and budget.
From first consultation to final installation, the process is clear and fully supported.
Our team can help you:
- Choose the right solar system based on your usage and future plans
- Calculate potential savings and return on investment
- Apply for available solar financing or green loans
- Complete installation with certified workmanship and aftercare support
Getting started is simple—reach out for a free quote and expert guidance tailored to your property.
Solar Finance Frequently Asked Questions
What’s the difference between solar finance and a solar loan?
Solar finance covers all pay-over-time options for solar. A solar loan is one type, with fixed repayments over a set term. In essence, all solar loans are solar finance, but not all solar finance is a loan.
Can I still use the 2025 government loan if I already have a bank green loan?
You can’t stack two loans for the same upgrade, but you may qualify later for extra upgrades like a battery or EV charger.
What happens to my solar loan if I sell my property?
You’ll usually need to pay it off when you sell. Some lenders let you transfer the loan to your new home, but not always.
Will my bank need to revalue my house to approve the loan?
Sometimes. If you have enough equity, a full revaluation may not be needed. But if your mortgage is near the limit, they might ask for one.
Can I get a green loan for a rental or Airbnb property?
Most green loans are for homes you live in. Rentals usually need a standard top-up or business loan, but it depends on the bank.
Why aren’t commercial solar systems always eligible for the same green loans as residential ones?
Most bank green loans are only for homes you live in, since they’re tied to your mortgage. Commercial buildings usually need separate business loans. If it’s a mixed-use property, you might still qualify.
Is there a solar lease option available in New Zealand?
Solar leases or subscriptions in NZ are rare, and usually for larger or more complex systems only. MV Electrical doesn’t offer leasing—we focus on ownership-based solar and battery systems for both residential and commercial projects.
Ready to see if you qualify for a solar loan in NZ?
New Zealand solar finance offers are available now—some for a limited time.
Don’t wait to lock in low or interest-free rates that can cut your upfront costs and start your energy savings sooner.
We’ll simplify your options, support your loan application, and design a system that fits your home or business.
Contact MV Electrical for a free quote.