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A green loan for solar or a battery is a personal loan that can only be spent on energy upgrades the lender has listed, such as solar panels, a home battery or a heat pump. In return the lender usually charges less than it does on its all-purpose loan. In Western Australia it competes with the WA Residential Battery Scheme's no-interest loan, which most Synergy households look at first, and with the "interest-free" plans some installers offer when you sign.
Every commercial name in the table holds an Australian credit licence, the ASIC licence a business needs before it can lend to consumers or arrange their loans; twelve are lenders and Parker Lane is a broker. Each of their loans is offered without taking your house as security, and each publishes both an interest rate and a comparison rate. The WA scheme's own loan sits in the table as the reference row: no interest, so no comparison rate exists for it. The comparison rate is the interest rate with most of the loan's fees folded in, worked out on a standard loan size and term so two products can be read side by side. The figures are as published by each lender on 25 September 2026. They move without notice, so treat the table as a starting point and confirm the current terms with the lender before you sign anything.
The thirteen commercial names in the table, twelve lenders and one broker, pass three tests: an Australian credit licence, an unsecured loan open to WA residents, and an interest rate and comparison rate published on the provider's own page. The WA scheme's own loan sits at the top outside those tests, because it is the one most Synergy households qualify for and a no-interest loan has no comparison rate. Eight of the thirteen providers restrict the loan to green or energy upgrades. The other five lend for any purpose, and three of them, ANZ, NAB and Westpac, name solar on their personal loan pages.
Rates as at 25 September 2026, as published on each lender's own rate page. Every loan below can be taken without security; Regional Australia Bank also offers a secured version, and its comparison rate is worked out on that secured basis. Where a range is shown, the rate you are offered depends on the lender's credit assessment.
| Lender or broker | Product | Interest rate | Comparison rate | Term | Establishment and monthly fees | Amount, purpose and conditions |
|---|---|---|---|---|---|---|
| WA Residential Battery Scheme (administered by Plenti) | No-interest loan | 0% fixed | None published (no interest and no fees other than a late fee) | 3 to 10 years | $0 and $0; $10 a week while in arrears, capped at $120 a year | $2,001 to $10,000; a battery on Synergy's Supported Solutions List, plus an inverter and panels installed with it; household gross income under $210,000; VPP enrolment; loan plus rebate cannot exceed the installed price |
| Australian Mutual Bank (a brand of Teachers Mutual Bank) | Green Loan | 7.10% variable | 7.10% | Up to 7 years | $0 and $0 | $5,000 to $40,000; solar systems and battery storage on its list; paid direct to the supplier; membership, open to Australian residents |
| Brighte | Green Loan (page dated 7 April 2026) | From 9.49% fixed | 10.98% | 2 to 10 years | From $199 and $2.70 a week; $4.99 late fee | $2,000 to $60,000; solar, batteries, inverters; Brighte pays your installer once the job is done |
| Brighte | HEUF Discounted Green Loan (page dated 7 April 2026) | 7.99% fixed | 9.49% | 2 to 10 years | From $199 and $2.70 a week; $4.99 late fee | $2,000 to $60,000; battery or solar-and-battery combination, heat pumps, EV chargers; own a home worth $2.5 million or less; through a Brighte vendor |
| Commonwealth Bank | Home energy loan, fixed, for existing CommBank home loan customers | 4.24% fixed | 4.24% | 1 to 7 years | $0 and $0 | $4,000 to $50,000; solar 6 kW or larger, battery 5 kWh or larger; installer NETCC approved and SAA accredited; needs an eligible CommBank home loan |
| Commonwealth Bank | Home energy loan, fixed or variable, other customers | 7.24% to 8.74% fixed; 6.98% to 8.48% variable | 8.29% to 9.77% fixed; 8.03% to 9.51% variable | 1 to 7 years | $0 (usually $250) and $15 a month | Same purpose rules as the row above |
| Gateway Bank | Eco Personal Loan | 6.44% variable | 7.45% (basis $10,000 over 3 years) | Up to 5 years | $149 and $0 | $3,000 to $30,000; solar panels and battery storage named; membership |
| Northern Inland Credit Union | Green Personal Loan | 6.49% fixed | 6.49% | 1 to 5 years | $0 and $0 | Up to $25,000; solar panels and batteries named; principal residence; membership, open to Australian residents |
| Parker Lane (a licensed broker that arranges the loan through its lender panel) | Green Loan | 6.99% variable, up to 7.79% | 8.24% | 1 to 15 years | Not published on the rate page; a credit quote is issued before you apply; no early repayment penalty | $1,000 to $100,000; solar, battery, EV charger and other upgrades |
| Plenti | Green Loan | From 9.99% | 11.20% | 3 to 10 years | Establishment fee not shown on the rate page; $8.99 a month | $2,000 to $45,000; solar, battery, EV charger, hot water; the HEUF version, through Plenti's accredited installers only, takes up to 3 percentage points off and runs $2,000 to $50,000 over 3 to 15 years, rate not published |
| Regional Australia Bank | Enviro Loan | 7.20% variable | 8.54% (basis stated as a secured $30,000 loan) | Up to 5 years | $195 and $0 | From $500, maximum not published; energy-efficient and environmental improvements; secured or unsecured at your choice; membership |
| ANZ | Personal Loan, fixed or variable, energy efficient purposes | 7.49% to 21.99% | 8.18% to 22.56% | 1 to 7 years | $150 and $10 a month; $20 late fee | $5,000 to $75,000; solar systems and solar batteries named; any purpose |
| Bank Australia | Lifestyle Personal Loan | 9.49% variable | 10.53% (basis $10,000 over 3 years) | Up to 10 years | $150 and $0 | From $1,000; any purpose; Bank Australia's green product is a home loan, not a personal loan |
| ING | Personal Loan | 6.19% to 19.99% fixed | 7.03% to 20.78% | 2 to 7 years | $199 and $8 a month; $30 late fee | $5,000 to $60,000; any purpose; PAYG income of $36,000 or more; ING's green product is a home loan top-up |
| NAB | Personal Loan, energy efficient purchases | 7.50% to 22.00% | 8.90% to 23.29% | 1 to 7 years | $250 and $15 a month; $0 late fee | $5,000 to $55,000; solar panels and home batteries named; sole borrowers only |
| Westpac | Unsecured Personal Loan, home energy upgrades | 7.29% to 22.19% fixed (median 16.99%) | 8.69% to 23.48% | 1 to 7 years | $250 and $15 a month; $175 if paid out within two years on a longer term | $4,000 to $70,000; battery, solar, EV chargers and heat pumps named |
Bank ranges are wide because the rate is set by your credit score. ANZ, NAB and Westpac put solar on their personal loan pages, but the loan is the standard product at the standard rate card, and Westpac says around half its customers receive its 16.99% median rate or lower. CommBank is the exception: its 4.24% tier is a discount off its standard rate card, and it only applies if you already hold an eligible CommBank home loan.
At the mutual banks and credit unions the rate is a single figure, not a range. Several charge no fees at all, which is why Northern Inland's and Australian Mutual Bank's comparison rates equal their interest rates. Each needs you to join first. Northern Inland admits any resident of Australia. Australian Mutual Bank makes you a member when a product or loan is approved, and Gateway issues a member share. Regional Australia Bank opens the membership inside your first loan application for a $1 share.
Outside the table sit the secured products. ING's Green Upgrade Loan is a home loan top-up to $50,000, and Westpac's Sustainable Upgrades Home Loan runs at 4.49% variable for $4,000 to $50,000 over up to 10 years. Bank Australia's Clean Energy Home Loan is a reduced mortgage rate for a home that already has the upgrades, and CommBank withdrew its Green Loan from sale on 1 October 2025. A secured rate is lower because the bank can take the house.
Each lender picks its comparison-rate basis from six loan sizes and terms fixed by regulation, taking the one closest to its typical loan. Most in the table print $30,000 over five years. Gateway and Bank Australia print $10,000 over three years, Regional Australia Bank calculates its own on a secured loan even though the product can be unsecured, and Plenti's page prints no basis at all. Two comparison rates on different bases are not the same measure, so read the footnote before you rank them.
Fee load is the gap between the two rates. Brighte's 9.49% becomes 10.98% once the $199 establishment fee and the $2.70 weekly account fee are counted. Plenti's 9.99% becomes 11.20%. At Gateway, the $149 establishment fee lifts 6.44% to 7.45% on its $10,000 basis.
A battery loan is smaller and shorter than $30,000 over five years, so the fixed fees weigh more. Take a $199 establishment fee and an $8.99 monthly fee, two figures from the table combined for the illustration: on an $8,000 loan over five years they add up to $738, about 9% of the amount borrowed. On $30,000 the same fees are under 2.5%. So on the loan size most Perth battery buyers take, the establishment fee and the monthly fee can matter as much as a full percentage point of interest.
On $8,000 over five years, the interest alone, before fees:
| Rate | Monthly repayment | Total interest |
|---|---|---|
| 0% (WA scheme loan) | $133 | $0 |
| 4.24% | $148 | $892 |
| 6.44% | $156 | $1,378 |
| 6.99% | $158 | $1,502 |
| 7.99% | $162 | $1,730 |
| 9.49% | $168 | $2,079 |
| 9.99% | $170 | $2,196 |
Stretch the same $8,000 to seven years and the 9.99% interest bill rises to $3,153, while the monthly repayment only drops from $170 to $133. The battery financing calculator runs these figures on your own quote, and the savings calculator sets them against the bill savings.
It comes first, for the households that qualify, and a green loan covers what it cannot. The WA Residential Battery Scheme lends $2,001 to $10,000 at 0% over 3 to 10 years, with no fees beyond a late charge of $10 for each week a repayment is in arrears, capped at $120 in any 12 months. Plenti administers it; the State sets the terms. To qualify, the household's gross income has to be under $210,000 and the battery has to appear on Synergy's Supported Solutions List. The system also has to be enrolled in a virtual power plant, which for most Perth homes means Synergy Battery Rewards. The loan plus the rebate cannot exceed the installed price.
Batteries, new or upgraded inverters and solar panels installed with the battery are all covered. The rebate of $130 per kilowatt hour, capped at $1,300, is applied to the price by the accredited vendor before the loan is sized. How the WA scheme loan stacks with the rebates walks through the order, and the WA rebate eligibility checklist lists every condition.
A green loan comes in where the scheme loan stops. The common case is a price above what the rebate and the $10,000 loan cover, which happens once panels are part of the job; what a Perth battery costs has current quote ranges. The green loan then only covers the gap, so the amount is small and the fee load matters. A household earning more than $210,000 cannot take the scheme loan at all. Nor can a household whose battery is not on Synergy's list, which also loses the rebate and Battery Rewards; Synergy Supported Solutions List explained covers how to check. In both of those the green loan carries the whole system, and the rate matters more. The worked stacking examples show both.
The federal certificate discount on batteries steps down on 1 January 2027 and is set by the installation date, so a loan approval that slips the install into January costs more than the interest; rebate timelines and the January step-down has the figures.
Brighte, CommBank and Plenti carry it as unsecured personal loans. ING, Westpac and Bank Australia have it as mortgage products, Plico and Zelora as subscription plans. The fund itself is $1 billion of Clean Energy Finance Corporation money, lent cheaply to those co-financiers so they can discount green finance for existing homes; the corporation does not lend to households or assess applications.
The discounted rates are 7.99% fixed at Brighte and 4.24% at CommBank for its home loan customers, while Plenti runs its version through accredited installers with no published rate. Brighte's discounted list covers battery storage, a solar-and-battery combination, heat pumps, EV chargers, double glazing and solar hot water. Solar panels on their own are not on it, and the borrower has to own a home valued at $2.5 million or less. Plenti's needs a battery or another listed upgrade in the job. Panels alone do not qualify. CommBank's tier needs an existing eligible CommBank home loan and a NETCC-approved, SAA-accredited installer.
Plico Finance in WA quotes a weekly payment on application and Zelora does not operate in WA, so neither subscription plan can be read against the table either.
A green loan pays only for upgrades on the lender's list, and the lists differ. The five any-purpose loans in the table carry no such condition. Most lists name solar and batteries. Regional Australia Bank publishes no list, only a general description: energy-efficient and environmental improvements. ANZ's list is only an example of what its any-purpose loan can fund, and it adds inverters and installation labour under the battery line. Ask the lender to confirm the exact item on your quote qualifies before you rely on the discounted rate.
CommBank asks the most of the installer: the vendor approved under the New Energy Tech Consumer Code and the installer holding Solar Accreditation Australia accreditation. Plenti's HEUF loan requires the same pair. ANZ points buyers to accredited suppliers without making it a condition. Brighte, Parker Lane and the mutuals publish no installer condition, though Brighte's discounted loan is applied for through a Brighte vendor. The WA scheme requires a scheme-accredited vendor and an SAA-accredited installer whatever loan you use.
Brighte and Australian Mutual Bank pay the installer or supplier direct, and Brighte starts your repayments only once the job is complete. CommBank releases the funds after installation. The big banks and most mutuals pay the borrower, who then pays the installer. A loan paid to the installer puts the installer inside the application. A loan paid to you leaves you holding the money until the install is finished, with the repayments already running.
A credit licence puts the loan under the National Consumer Credit Protection Act and the National Credit Code, which means the lender has to check the loan is not unsuitable for you and tell you its fees and charges. Any advertised rate has to carry the comparison rate. A green loan is a regulated personal loan with a special-purpose rate, and there is no separate green loan law in Commonwealth or WA legislation.
Parker Lane's licence is a broker's. Its credit guide describes it as a credit assistance provider paid commission by lenders, arranging loans through a panel that includes CommBank, Gateway Bank and NAB. The 6.99% on its page is the rate it publishes for the green loan it arranges, and the lender named on your contract will be one of its panel.
By the law that covers it and by the numbers you are shown. An installer's "interest-free" or buy now pay later plan became regulated credit on 10 June 2025 as a low cost credit contract, a lighter category under the same Act. The provider has fewer duties, and its advertising does not have to carry a comparison rate. humm publishes no interest rate or comparison rate for its plan, and Zip publishes a 25.90% rate that applies after any interest-free period but no comparison rate, so neither can be placed in the table above.
Under the New Energy Tech Consumer Code, a signatory retailer can only offer deferred payment through a licensed credit provider or one whose contract the code administrator has approved. The approved list is short. On 25 September 2026 it held five products: Plenti's Zero-Interest Payment Plan, BrightePay, AGL's EV charger instalment plan, and two Intellihub subscription agreements (Enreal and Zelora). The retailer also has to show you the total cost under the plan against the cash price on the same day. That is where a 0% plan's cost lives, in the price rather than the rate.
Everything below is on the quote or on the lender's own rate page, so none of it needs a phone call.
Is a green loan cheaper than an ordinary personal loan? Sometimes. CommBank's home energy loan is priced below its standard personal loan, and the mutuals' green loans sit below their all-purpose rates. ANZ, NAB and Westpac put solar on the page but lend at the standard personal loan rate card, so the "green" label there is a purpose rather than a discount. Compare the comparison rate and the fees, and ignore the name.
Can I combine a green loan with the WA battery rebate? Yes. The rebate is applied to the installed price by the accredited vendor, and any loan can fund the balance. The only stacking limit is on the scheme's own loan: the no-interest loan plus the rebate cannot exceed the installed price. A household outside the scheme's income cap can still claim the rebate and fund the rest with a green loan; the WA solar battery rebate page covers the rebate side.
Does the lender pay me or the installer? Brighte and Australian Mutual Bank pay the installer or supplier direct, and CommBank releases the funds once the installation is complete. ANZ, NAB, Westpac, ING and most mutuals pay you.
Why do some comparison rates equal the interest rate? Those lenders charge no establishment or monthly fee, so there is nothing to add at the standard loan size. Northern Inland, Australian Mutual Bank and CommBank's discount tier are the three in the table.
Do I have to join a mutual bank to get its green loan? Yes. Gateway Bank, Northern Inland, Regional Australia Bank and Australian Mutual Bank are customer-owned, so the loan comes with membership. Northern Inland takes any resident of Australia, Australian Mutual Bank enrols you on approval, and Gateway and Regional Australia Bank sign you up with a member share.
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