The uncertainty brought about by the corona-virus means that everybody wants to reduce their bills, and nobody wants to spend any unnecessary money. However, with people working from home and kids not going to school, your power bills are just about guaranteed to increase in the next quarter. So what can you do?
Well, solar power is a proven way to reduce your energy bills, but it doesn’t seem like such a good idea at the moment, does it? Who wants to dip into their emergency cash reserves to spend it on solar? With limited savings, people are watching every dollar they spend, so who wants to spend thousands on installing solar right now?
Well, if you have been hoping to install solar in your home, only to have your plans upset by the pandemic, there is a way for you to achieve your goal. After all, not having to pay a power bill is a big step in the right direction, particularly if you have limited savings and are concerned about your future financial welfare.
So how would you feel if there was a quick and easy way for you to install solar without needing to pull thousands of dollars from your savings?
What is a Green loan?
This is a low rate loan from a locally owned bank who understands the savings that a solar panel system can deliver to homeowners. At Cola Solar, we work with a brokerage firm called Parker Lane to provide our residential customers with green loans that are cash flow positive. That’s because Parker Lane provides the best value solar payment options for Aussies.
How does a Green Loan work?
As an example, let’s say that the quarterly electricity bill for a family of four is $500, so their annual bill is roughly $2,000. This family would likely need a 6.6kW system costing around $3,500, after taking into account the Victorian State rebate. This size system would reduce the family’s quarterly energy bills down to less than $100 or just $400 each year. That’s a massive saving on their current annual $2,000 bill!
However, if this family doesn’t take out a green loan and invest in solar, they will be paying an additional $1,600 every year for their power. When you look at these numbers, it makes sense to install solar in your home. Obviously, this is a hypothetical example and your savings may be more or less than mentioned above, but it does give you something to think about, doesn’t it?
The reason that this green loan works so well is that their interest rates are so low. Parker Lane’s green loans are around 4.99% compared to estimates of 14% for personal loans from banks, so it makes good financial sense.
Your minimum payment is $50 per month over seven years, which is a drop in the bucket when it gives you such great cost savings on your power bills.
It’s important to realise that all lenders will charge interest on their loans, so if anyone offers you an interest free loan on solar, check the cost of the package, because it’s going to be expensive to cover their costs.
With no-contact quotes and installations, you don’t even have to worry about social distancing! So why not call Cola Solar on 1300 374 357 and find out how you can access a green loan today.