Dr Anthony Lynham
The State Government is offering interest-free, seven-year loans to eligible families to install 3kW solar systems and reduce their electricity costs.
Energy Minister Dr Anthony Lynham said the State Government’s offer was available from Monday, June 25, and would allow another 3500 families to join the 474,000 who already use solar to power their homes.
Customers will need to obtain a quote from an eligible solar supplier before submitting their application online.
Monthly repayments for $4500 loan over seven years are around $54 per month, or $648 per year.
A 3kW solar system bought with an interest-free solar loan could save a customer about $350 per year after loan repayments.
To receive a loan, customers need to:
- Be receiving Family Tax Benefit B
- Have electricity costs of at least $1000 over six months or $2000 over 12 months
- Use an eligible solar supplier – a list is available at www.qld.gov.au/solarloans
- Meet credit and loan assessment requirements set by the Queensland Rural and Industry Development Authority
- Have their solar system installed within six months of pre-approval
“These solar loans are offered with no interest, no fees and no charges for the seven-year loan period and aim to cover the supply and installation of an average 3kW solar system,” the Minister said.
“A successful applicant will pay no out-of-pocket expenses to access the loan and could save around $2450 over the life of the loan period.”
Applications for the solar system loans can be lodged online
