- What is solar?A Solar Photovoltaic system harness the sun’s free energy and reduces your power bill. This is performed through solar panels which create power from light generated by the sun during the daytime. The panels produce energy which is transferred through an inverter to create electricity which can be used by all electrical appliances in your house. It’s important to note that it doesn’t need to be hot to produce solar energy – just light.
- Will solar help me save money?
Solar could benefit you financially if any of the following apply:
- Your power bill is more than $200 per month
- You have a hot water cylinder
- You have a spa pool or swimming pool
- You are home during the day
- Why should I install solar?The main reasons homeowners install solar is to reduce their power bill, add value to their home, and to help out the environment.
- How much will I save money if I install Solar?
Savings vary from home to home but check out this page to find out more - https://ecoefficient.co.nz/about-solar-energy/how-much-will-solar-save-you/. For the life of your loan, solar can be a cost neutral decision and your monthly repayment can be close to what you are saving! Once your loan is paid back you’ll save even more. Of course, every situation is different so please get in touch for a free quote.
- How long will it take me to pay back the HBRC loan for solar installation?The HBRC loan scheme is over a 10-year period.
- How do I pay the HBRC loan back?You make a monthly repayment by direct debit.
- Does the HBRC charge for this loan service?HBRC charges a 6% interest which is included in the monthly repayments.
- What happens if I sell my house before the loan is paid off?If you sell your house, you’ll have to pay the loan back upon house settlement.