The federal discount already takes roughly $2,500 to $5,000 or more off a typical battery, so the amount you need to finance is the balance after it. The ways to cover that balance differ a lot in cost.
Green loans and CEFC-backed lenders
Green home and renovation loans offer a discounted rate for efficient upgrades such as solar, batteries and heat pumps. The Clean Energy Finance Corporation (CEFC) backs several lenders’ green lending, with Bank Australia’s Clean Energy Home Loan the best known, and major banks have launched their own products. Rates, eligibility and fees change often, and some lenders only discount if the loan is a new home loan or a top-up, so compare the full cost over the term against a plain personal loan.
State zero-interest loans
Several state schemes have closed. At the time of writing, the Victorian Solar Battery Loan and Tasmanian Energy Saver Loan are closed. The ACT’s Sustainable Household Scheme has been the main continuing zero-interest option; see the ACT scheme. South Australia’s position is covered at SA home battery scheme. Always confirm on the government page, because loan schemes open and shut with funding.
Mortgage redraw or offset
Using redraw or a top-up is often the cheapest money for people who have equity, because the interest rate is your home loan rate. The catch is that you are paying that interest over a long term, so make extra repayments to avoid a battery costing far more than its sticker price. Check with your lender whether redraw is available and whether a top-up needs a new valuation.
Buy now pay later and subscriptions
Buy now pay later products suit smaller purchases and can carry fees and late charges, so read the terms for a five-figure battery. Battery subscriptions, where you pay a monthly amount with little or no upfront cost, bundle the install, a service plan and often a VPP arrangement. Compare the total of all payments over the term, who owns the battery at the end, whether the STC discount is passed on to you and what happens if you move house.
| Option | Strength | Watch for |
|---|---|---|
| Green loan | Lower rate, long term | Eligibility, fees |
| Mortgage top-up or redraw | Usually the lowest rate | Long-term interest cost |
| State zero-interest loan | No interest | Many closed, caps apply |
| Buy now pay later | Quick approval | Fees, short terms |
| Subscription | Little upfront | Total cost, ownership, exit terms |
From the desk: ask any seller offering finance for the cash price and the STC line first. Then compare the financed total against it. The gap is what you are paying for convenience.
What this means for installers
If you offer finance, the STC assignment still has to be clean, and the discount timing is unchanged. Finance partners often pay you on completion, which can solve your own cash-flow gap; see battery STCs and the installer guide. Homeowners can estimate the discount in the battery STC calculator.