What are my options for solar panel finance?
Picture the quarterly bill landing and thinking, “that’s lower than last time.” That’s the goal of solar panel finance: get the system on the roof now, and let it work while you repay it over a term that suits your budget.
There are four common ways to pay. Most households end up with one of them, or a blend.
| Option | How it works | Worth knowing |
|---|---|---|
| Savings | You pay the balance after the rebate from your own money | No repayments, but it can drain your emergency buffer |
| Unsecured personal loan | A fixed loan over a set term, with nothing pledged as security | Simple to arrange and quick to settle with some lenders. Often a shorter term than a mortgage |
| Secured loan | A loan backed by an asset, such as a vehicle | Can open up different terms, but the asset is on the line if repayments stop |
| Home loan top-up or redraw | You borrow against your home’s equity | Can suit homeowners with equity, but you may repay it over many more years |
Our solar loans page covers how we search for solar finance. Not sure whether secured or unsecured suits you? Our guide to secured vs unsecured personal loans breaks down the trade-offs.
How does the solar rebate affect the amount I need to borrow?
The rebate shrinks the amount you finance, so understand it before you ask for a loan figure. Rooftop solar earns small-scale technology certificates (STCs) under the Small-scale Renewable Energy Scheme, and your installer usually takes their value off the quote.
The Clean Energy Regulator says the number of certificates depends on the system’s size, location, installation date and a “deeming period”. That deeming period is the part that’s shrinking.
| Installed in | Deeming period |
|---|---|
| 2025 | 6 years |
| 2026 | 5 years |
| 2027 | 4 years |
| 2028 | 3 years |
| 2029 | 2 years |
| 2030 | 1 year |
Everything else equal, a system installed in 2027 earns certificates for 4 years instead of 5. That’s 20% fewer STCs for the same panels in the same spot. Prices can move too, so the exact dollar difference depends on your quote.
Here’s a simple way to use it. Take your quote’s STC discount line, then ask the installer to re-quote the same system for a 2027 install. The gap between the two is what waiting would cost you, before any change in panel or labour prices. Weigh that against what a few extra months of savings or a shorter loan might do for you.
Should I finance solar or pay cash?
Paying cash makes sense if the money is surplus, not your safety net. Financing makes sense when cash would leave you thin, or when you’d rather keep savings for repairs, bills or the unexpected.
Run through these questions before you decide:
- Would paying cash leave you with three months of expenses in the bank? If not, consider keeping that buffer and financing some or all of the balance.
- Could your savings earn more elsewhere? If you’re paying down other debt, such as a credit card, clearing that first often matters more.
- Will the saving land on a bill you already pay? A system that cuts your electricity cost by roughly what you repay each month can feel close to cash-flow neutral, though there are no guarantees.
- Are you staying put? Solar pays back over years. If you might move soon, think about how much of the system you’ll enjoy.
A mix is common too. Put in what you can comfortably spare, and finance the rest over a term that keeps repayments steady.
Think about what the system will actually do for your household, too. A home that’s empty all day uses less of the power the panels make while the sun’s up, and much of the saving comes from using that power yourself. A household that works from home, runs the air con or charges an EV by day tends to use more of it directly. Your installer can model that from your bills, and it’s worth asking them to.
What do lenders look at for a loan for solar panels?
Lenders assess you, not the roof. They look at steady income, existing debts and repayments, living costs, and the credit history on your file. The solar system is the reason for borrowing, but your overall position decides the outcome.
That’s why two households with the same quote can get different answers. A broker can help by matching your situation to a lender whose policy suits it, which is what our panel of 60+ lenders is for.
- A signed or written quote: itemised, with the STC discount shown as its own line
- Income evidence: recent payslips, or tax returns if you’re self-employed or casual
- Your current commitments: credit cards, buy now pay later, other loans
- Credit file: you can get your credit report free from the credit reporting bodies, and checking your own doesn’t affect it
Lenders also like a clear purpose and a realistic repayment. A quote from an accredited installer, a sensible term and a loan amount that matches the quote all help the assessment run smoothly. Borrowing a lot more than the quote needs, or asking for a very long term, can make the application harder to place.
Buy now pay later products have been regulated as credit since 10 June 2025, so lenders may take them into account like other debts. Self-employed, casual or less-than-perfect credit? Some lenders still look at the whole picture, though there are no guarantees.
How do I fund solar panels without overpaying?
- 1
Get two or three quotes
Ask for the same system size, panel brand, inverter and warranty on each, so you’re comparing like with like.
- 2
Make the rebate visible
Ask each installer to show the STC discount as a separate line, and to confirm the install date.
- 3
Check your state’s extras
Some states offer their own help. Victoria’s Solar Homes Program is one example, so look at what your state offers before you commit.
- 4
Decide the split
Work out how much you’ll pay in cash and how much you’d rather borrow.
- 5
Think about a battery now
Adding one later can cost more in labour. Under the Cheaper Home Batteries Program, a battery installed with solar can qualify for a discount of roughly 30%. Our Cheaper Home Batteries Program guide has the detail, and our home battery loans page covers funding it.
- 6
Match the loan term to the system
A term that outlasts the useful life of the system, or stretches far longer than you’d like, can cost more overall.
Avoid signing a finance contract at the installer’s table without comparing it. Installer-arranged finance can be perfectly fine, but it’s one option, and you’re free to compare.
Ready to see what solar finance could look like for you?
If you’ve got a quote in hand, or you’re still sketching the plan, this is a good moment to find out where you stand. Tell us what it’s for, and we’ll search our panel of 60+ lenders for finance that suits your household.
The enquiry takes about 2 minutes, and it won't affect your credit score. A lender only runs a credit check once you choose to apply, and we’ll tell you before that happens.
A real person on our team looks at your situation and handles it from start to finish. To help us match the right option first time, please fill in the form as accurately as you can. Start your 2-minute solar finance enquiry
What you’ll need
- An itemised quote showing the STC discount as its own line
- Your last few electricity bills
- Recent payslips, or tax returns if you’re self-employed
- A list of your current loans, cards and buy now pay later accounts
- Photo ID
- Your expected installation date
- Details of any state rebate you plan to claim
Who it usually suits
- Steady income that comfortably covers the repayment
- A credit history lenders can assess
- Existing debts that are manageable alongside the new repayment
- Aged 18 or over and an Australian resident
- A quote from an accredited installer
