What are green loans and how do they work for solar?

I get it, the upfront cost of a quality solar system can be a major hurdle. That’s where a green loan comes in. Think of it as a personal loan, but specifically for eco-friendly upgrades like solar panels, batteries, or even a solar hot water system. Lenders often reward you for making a sustainable choice by offering a lower interest rate compared to a standard personal loan.

The process is usually straightforward:

• You get a quote: First, you’ll need a quote from a trusted, SAA-accredited solar installer.
• Apply for the loan: You apply for a green loan with a bank or finance provider for the amount you need.
• Lender pays the installer: Once approved, the lender often pays the installer directly.
• You repay the lender: You then pay back the loan in regular instalments over an agreed term, which could be anywhere from one to ten years.

The best part is that the savings on your electricity bills can often help offset the cost of your loan repayments, making the whole switch to solar much more manageable.

Best green personal loans Brisbane for solar

When you start looking for the best green personal loans in Brisbane, you’ll find a healthy mix of options from big banks, credit unions, and specialised green lenders. The “best” loan really depends on your financial situation, but the key things to compare are the interest rate, fees, and loan term.

Many green personal loans are unsecured, meaning you don’t need to use an asset like your house as security. They also typically have fixed interest rates, which is great for budgeting as your repayments won’t change over the life of the loan.

Some of the providers that consistently come up for Brisbane residents include:

• Major Banks: Commonwealth Bank, Westpac, and ANZ often have competitive green loan products, especially for existing customers.
• Green Lenders: Companies like Plenti and Brighte specialise in financing for renewable energy and are worth a look.
• Local Banks: Don’t forget Queensland-based institutions like Queensland Country Bank, which offer specific “Green Reno Loans”.

Gigi’s pro tip: Always look at the comparison rate, not just the interest rate. The comparison rate gives you a truer picture of the loan’s total cost because it includes most fees and charges.

Compare green loans for solar panels Queensland

To help you compare, here’s a snapshot of what you might find in Queensland. Please note that interest rates and offers are subject to change and depend on your credit profile.

• Queensland Government Loans: In the past, the Queensland government has offered interest-free loans to eligible households. It’s crucial to check the Department of Energy and Public Works website for any current schemes, as these are often the most competitive option if you qualify.
• Bank Australia: Known for its strong ethical and environmental focus, Bank Australia is often a top contender for green financing.
• RACQ Bank: This Queensland institution offers a Green Personal Loan designed to help locals switch to solar.
• Specialist Lenders: Companies like Brighte and Plenti offer green loans with fixed interest rates. They often have partnerships with solar installers, which can streamline the application process.

Low interest solar loans Brisbane

Scoring a low interest rate can make a huge difference to your overall costs. One of the most talked-about options has been the Commonwealth Bank Green Loan, which has offered very low fixed rates to eligible home loan customers for things like solar panels and batteries. However, it’s worth noting that some bank offers are temporary or part of pilot programs, so you need to check their current availability. A recent update in October 2025 indicated that CommBank’s Green Loan was unavailable for new applications, directing customers to a ‘Home Energy Loan’ instead.

Some lenders, like Westpac, have also offered interest-free periods on loans for sustainable upgrades for their home loan customers. These deals are fantastic if you can get them, but they are often tied to having an existing mortgage with the bank.

Beyond the big banks, the Australian government’s Household Energy Upgrades Fund (HEUF) has been working with lenders like Plenti to provide cheaper finance for solar and other energy efficiency upgrades. This can result in significant interest rate discounts for homeowners.

Brisbane City Council and Queensland government loans

While Brisbane City Council doesn’t currently offer its own specific sustainability loans for solar, the Queensland government has historically been very active in this space.

The Queensland Government’s interest-free solar loan program has been a major incentive for homeowners. These loans have helped eligible households cover the cost of systems up to 10kW and even battery storage. The availability of these schemes can change, so I always recommend checking the official government websites for the most up-to-date information before making any decisions. There are also programs like the Sustainability Loan from the Queensland Rural and Industry Development Authority (QRIDA), aimed at the rural sector, which can be used for renewable energy projects.

Your guide to the big four banks’ green loans

Navigating the offerings from Australia’s major banks can be complex, as their products change. Here’s a general rundown as of late 2025.

NAB green loan for solar

National Australia Bank (NAB) offers various personal loans that can be used for solar installations. While they may not always have a specifically branded “green loan” with a discounted rate, their standard personal loans can be an option. It’s always best to speak with them directly to see what current offers are available for financing sustainable home improvements.

CommBank green loan solar panels

Commonwealth Bank has been a leader in this space with its highly competitive Green Loan, offering a very low fixed interest rate for up to $20,000 over 10 years for existing home loan customers. This loan could be used for solar panels, batteries, and even EV chargers. However, as of October 2025, reports suggest this specific product is no longer available for new applications, with customers being pointed towards a “Home Energy Loan” with a different rate structure. This highlights how quickly the market can change.

Westpac solar panel loan

Westpac has offered attractive options, including the ability for home loan customers to borrow up to $10,000 interest-free for five years for things like solar panels. They have also had offers for larger unsecured personal loans specifically for solar and battery combos with special interest rates. These loans are typically for existing Westpac customers.

ANZ green loan for solar

ANZ provides personal loans that can be used to purchase and install energy-efficient products like solar panels and batteries. While not always marketed with a steep “green” discount, they are a viable option for financing. ANZ also offers a Green Business Loan for commercial solar installations.

Eligibility criteria for green loans in Brisbane

While the exact requirements vary between lenders, most have a similar set of criteria you’ll need to meet.

Generally, you will need to:

• Be over 18 and an Australian resident: This is a standard for any loan application.
• Have a regular income and good credit history: Lenders need to be confident you can repay the loan.
• Use the funds for an approved purpose: The loan must be for an eligible green product, like solar panels, from an accredited installer. Some lenders specify that the installer must be SAA-accredited.
• Meet property requirements: Some loans, particularly those linked to a mortgage, require you to be an owner-occupier. For specific green home loans (different to a personal loan), your property might need to meet a minimum 7-star NatHERS rating.

Solar loan providers Brisbane

Beyond the big four banks, there is a wide range of providers offering solar loans in Brisbane.

• Specialist Green Lenders: Companies like Brighte, Plenti, and Solaris Finance focus specifically on financing for renewable energy. They have deep knowledge of the industry and often work directly with installers.
• Credit Unions and Member-Owned Banks: Institutions like Queensland Country Bank and RACQ Bank are excellent local options that often have community-focused lending products.
• Finance Brokers: Companies like Ezilend can compare loans from a wide panel of lenders to find a competitive rate for your solar system.

Ready to power your home with the sun?

Choosing to go solar is a fantastic decision for both your wallet and the planet. While the initial cost can be a barrier, the variety of green loans for solar in Brisbane makes it more accessible than ever. The key is to do your homework, compare comparison rates, and find a loan that fits your budget.

If you’re ready to get a proper quote, I can introduce you to a trusted, SAA-accredited local expert who can help you design the perfect system for your home—just fill out the form below. For a quick, personalised estimate of solar costs and savings, you can also try the free solar assistant on this page.