No interest loan plan puts roof-top solar within reach of struggling households

PIAC’s Energy + Water Consumer Advocacy Program (EWCAP) has welcomed the New South Wales Government’s commitment to provide no-interest loans for households to access solar and batteries, announced on Sunday.

‘This program will provide welcome relief for people struggling with the cost of living. Making finance available for up to 300,000 households with income below $180,000 a year gives homeowners who haven’t been able to afford solar or batteries a chance to be part of the energy revolution,’ said Craig Memery.

‘Although no interest loans are already available, the private providers that offer them make a substantial profit from these arrangements, often by significantly inflating purchase prices, so that the people who can afford it least end up paying more.’

‘A genuine no interest loan scheme backed up by government means anyone can access the best price, and benefit fully from the potential savings.’

‘Including batteries in the plan is a positive step that will allow consumers to make the most of their solar system, and help the grid, by allowing people to use surplus solar energy when the sun isn’t shining, and when they need it most.’

PIAC’s Energy + Water Consumers’ Advocacy Program is working to reduce electricity bills by 25% by 2025, by driving reforms to the energy supply system and measures that support disadvantaged households to access resources like solar and batteries.

‘Genuine no-interest loans for low-income households to access solar and storage systems are one of the best ways to help reach this goal, and deliver the benefits where they are needed most,’ said Craig Memery.

‘PIAC looks forward to the release of further detail regarding the program.’

Media contacts: PIAC Media and Communications Manager, Gemma Pearce – 0478 739 280



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