Kiwibank has launched a new initiative called the Sustainable Energy Loan, making it easier for New Zealanders to become more energy independent.
If you are wanting to invest in a renewable energy generation for your home e.g. a solar power system or a solar hot water system, then you can add the loan for the system onto your existing Kiwibank home loan or if you move your existing mortgage to Kiwibank.
As an extra incentive, Kiwibank will contribute $2,000 over 4 years towards the cost of the system.
A lot of different mortgage providers are now warming to the idea of small-scale renewable energy systems for the home, many of them now allow their customers to add renewable energy systems to home loans. Now that the cost of renewable energy systems has come down in the past few years, the return on investment is now over 10% per annum, as this figure is greater than most loan interest rates, a system is well worth adding to a home loan.
Find out about ANZ's 1% interest rate on solar panels and batteries.