Green Loans For Solar Panels Up To $10,000

Harness the energy of our nearest star with green loans for solar and you could slash your energy bills. Apply with Monzi and we may be able to match you with a lender offering personal loans from $300 to $10,000. Get started today!

Monzi is a lender-finding service. We do not offer financial advice. Consider seeking independent legal, financial, taxation or other advice to check how the information and ideas presented on this website relate to your unique circumstances.

What are solar loans?

As you might expect, solar loans are cash loans used to fund the purchase of home solar energy systems. You get the cash you need now while your repayments are spread over a term of several months or even years. That means they’re a type of short term loan.

Adding solar to your home might be the first step toward living a more environmentally conscious life. And, it comes with the additional benefit of reducing your power bills.

So, seeking solar panel loans? Consider Monzi. We might be able to match you with one of the lenders in our network who may offer personal loans up to $10,000.

Make the switch to clean energy and do your bit to help Australia move toward a cleaner future.

Green loans for solar panels

Sure, solar panels are a green energy solution that can save you money on your electricity bills, but why is solar the right renewable energy choice for you?

Well, in short, Australia is simply the perfect location for solar power. Based on the information provided by the Bureau of Meteorology, Australia’s seven capital cities get the following amount of sunlight each year:

  • Brisbane: 261 days
  • Sydney: 236 days
  • Melbourne: 185 days
  • Adelaide: 224 days
  • Perth: 265 days
  • Hobart: 193 days
  • Canberra: 246 days
  • Darwin: 239 days.

As you can see, there’s no shortage of sun. Think of all that energy you could harness. And in any case, your solar panels can produce electricity on cloudy and rainy days too. But more on that later.

With Monzi, you can apply for secured loans or unsecured loans for solar. Apply today for loans up to $10,000.

Solar loans Australia

There’s never been a better time to make the switch to solar.

Currently, there are various state and national schemes that exist to promote the switch to green energy. These schemes include a number of low-interest loans as well as grants and rebates to assist you with your purchase.

Visit the website for more information on what options may be available to you.

What is a green personal loan?

A green personal loan is a cash loan used to cover the purchase of environmentally friendly products and services (e.g. solar panels or a water tank).

Monzi’s lender-finder service may be able to match you with a lender offering these personal loans. You can apply for up to $10,000 today!

Loans come in three forms depending on the amount you borrow. See below for more details:

LoanAmount (AUD)Repayment termsSecurity
Small loans$300 to $2,000Up to 12 monthsUnsecured
Medium loans$2,100 to $4,60013 to 24 monthsSecured
Large loans$5,000 to $10,00013 to 24 monthsSecured

The above table is just a guide; repayment terms may vary between lenders.

Advantages of using solar energy

There is a ton of benefits that come with switching to solar. While solar panels can save you countless dollars on your electricity bill, that’s not all. Check out some of the other great benefits below:

  • It’s environmentally conscious: solar is a green, clean source of energy. It’s a great way to reduce your carbon footprint.
  • Get off the grid: solar allows you to be independent. There’s no need to rely on your state energy grid.
  • Increased efficiency: there’s a stack of energy lost on the journey from your local power plant to your home. With solar, there are no such concerns.
  • It’s a free source of energy: the sun burns bright everyday. You might as well take advantage of the energy it produces.

Solar panels: what are the downsides?

While solar does have an extensive list of advantages, there are a few downsides that are worth mentioning. These include:

  • Upfront costs: the purchase and installation of solar panels can be expensive. Therefore, you may need to consider taking out finance.
  • Storing energy is expensive: while battery technology is improving, they can still be expensive. As a result, they may not be affordable for everyone.
  • You can’t take them with you: if you decide to move house, unfortunately, your solar panels won’t come with you. However, they will add value to your home.

Obviously, when deciding if loans for solar panels are right for you, you will need to weigh up both the pros and cons. So, ensure you do your research before making any decision.

Can I get green loans for solar with bad credit?


When it comes to assessing your application, your credit score will be taken into consideration. However, it’s not the only part.

Lenders may look at your current financial situation too. While you may have made a few credit mistakes in your past, if you’re in a strong financial position today, that can be just as important.

Ultimately, your credit history is just one piece of the puzzle. While it will be considered, it may not be the be-all and end-all of your application.

Apply with Monzi today and we may be able to match you with a lender who is understanding and can potentially offer bad credit loans to some borrowers.

When will I receive my cash?

If you apply with Monzi, it’s typically wise to allow for a wait time of up to 24 hours. However, in a best-case scenario, it may be possible to receive same day loans.

If you apply during business hours, we may be able to pair you with a lender in just one hour. Subsequently, your lender will waste no time assessing your application with the aim of providing you with a quick loan today.

At that point, access to your cash will be dependent on inter-bank transfer times.

Keep in mind that applications received outside of normal business hours will typically experience delays. In many cases, you will need to wait until the following business day to access your cash.

Am I eligible to apply with Monzi?

Monzi’s eligibility criteria are simple to ensure we can help as many Aussie borrowers as possible access the finance they need. However, before you apply, there are four boxes that you must tick. Check them out:

  • 18 years of age or older
  • Australian citizen or permanent resident
  • Have a current and active mobile phone number and email address so we can contact you.
  • An internet banking account with at least three months of banking history.

How do I apply?

Keen to access green loans for solar? It’s easy to apply with Monzi. Just follow these three easy steps:

Step one: apply

First, tell us how much you wish to borrow and your preferred repayment period. Then, supply the required personal details and hit ‘submit.’ Your work is done.

Step two: wait

Our automated system takes over. It will scan through our lender network to try and find one available and willing to assess your claim. For application received during business hours, this may be as short as one hour.

Step three: outcome

Once we’ve concluded our search, we’ll text you with an outcome. If it goes to plan, your lender-match will be in contact to conduct an assessment.

Green loans for solar panels on house roof with pool

Should I finance solar panels?

In short, it’s up to you.

Based on your financial situation, you will need to decide if green loans for solar are right for you. As a result, Monzi is unable to provide any advice.

Solar comes with the obvious benefit of reduced energy bills, however, there is an initial investment required.

So, weigh up the pros and cons. If you decide that finance is right for you, apply with Monzi. We can potentially pair you with a lender willing to offer up to $10,000 to put towards the cost of your solar energy system.

What is the best way to finance solar?

You can finance your solar through a number of ways.

Depending on your location, there may be interest-free or low interest government green loans for solar panels available. Similarly, a number of financial institutions may offer green loans with the hope of encouraging Aussies to make the switch.

Alternatively, a personal loan may be the right choice for you. Through Monzi’s lender-finder service you can apply for cash loans of up to $10,000 to help fund your purchase. Just scroll up and use Monzi’s loan slider when you’re ready to apply.

Green loans for solar: how do I evaluate solar panels?

So, you’re ready to make the switch to solar. Now, you need to pick your panels. Here’s where it can get tricky.

If you’re a total newbie with no electricity knowledge it’s almost impossible to know what to look for. Luckily, Monzi’s can help.

As a guide, evaluate panels against these three criteria:

  • Production. How much electricity will the panels produce? This is dependent on a range of factors including the power rating, power tolerance and efficiency.
  • Quality. Check the warranties and assurances offered by the manufacturer. Also, read some reviews written by individuals who have previously purchased these panels.
  • Durability. Solar panels are renowned for being sturdy. However, if you live in an area prone to severe weather (e.g. cyclones) ensure they can be installed to withstand the conditions.

Do I need a solar storage battery?

This is a matter of personal choice.

A solar storage battery allows you to store the electricity you have generated so you can use it on a rainy day or at night.

Without a battery, you may be able to send any excess energy generated back to the energy grid. For which you will be credited with a feed-in tariff.

In conclusion, do your own research to decide if the product is right for you. Battery technology is advancing, however, at this stage, they may not make financial sense for many homes.

Compare green loans for solar

Shopping around for the best loan is never a bad idea. In fact, finding the right loan can potentially save you a ton of money.

So, before agreeing to any credit contract, consider the following factors:

  • The loan amount: what is the minimum and maximum you can borrow?
  • Interest rate: a lower interest rate will lower the amount you pay on top of the principal sum.
  • Fees and charges: account, late and administrative fees may all be added by lenders.
  • The repayment terms: are you given sufficient time to repay your loan comfortably?
  • The lender: Make sure that the lender has a history of treating their users well. Check out their reviews.

What happens if it’s cloudy?

Did you know that a solar energy system can still generate electricity on days that are rainy, cloudy or cold? Crazy, right?

Obviously, the energy generated on these days will not match the output of days with a blazing hot sun. However, it’s good to know that your system will always be working for you.

And in any case, as an Australian resident, you’re going to see far more sunny days than rainy days. So, producing enough energy should never be an issue.

How long do solar panels last?

While the substantial initial investment may scare you, it’s worth noting that solar panels are a long-term investment. Most systems will come with 20 to 25 year warranties.

Your panels’ output may diminish somewhat over time; however, they won’t necessarily just stop working after 25 years. This is simply the point at which the manufacturer considers the energy output will have decreased by a significant amount.

So, if you’re considering investing in solar panels, remember that they’re a long-term commitment.

How to go green and reduce your carbon footprint

There’s no doubt installing solar panels is a great start, however, there are so many other simple ways to reduce your carbon footprint.

Examples include:

  • Insulate your home: keep your house cool in summer and warm in winter. Reduce your reliance on heating and air conditioning.
  • Limit your water use: install a rainwater tank, have shorter showers and fix any leaking taps.
  • Pick energy-efficient lighting: forgot traditional bulbs. LED’s and eco halogen lights are more efficient and often last longer.

Why Monzi?

Think a personal loan is the right choice for you? Monzi’s lender-finder service may make it simple and convenient to match with a potential lender offering online loans now.

But that’s not all, there are a plethora of additional benefits that you’ll experience when you apply with Monzi. Check them out:

  • Quick outcomes. Most applications get an outcome within 60 minutes if they’re lodged during normal business hours.
  • 100% online. Use our website whenever you like from wherever you like; all you need is an internet connection. In addition, the online application process is usually paperwork free.
  • Flexible. Apply for as little as $300 or as much as $10,000 with repayment terms up to 24 months. Moreover, you may be able to choose between a weekly, fortnightly or monthly repayment schedule.
  • Great lenders. The credit providers within our network are understanding and are able to consider applicants with poor credit. In addition, you can be sure each lender in our network is fully-licensed by ASIC.
  • Free. Monzi’s lender-finder service is always free to use, regardless of the outcome.
  • Helpful. Need a hand applying? Shoot an email over to and we’ll try to get back to you as soon as possible.

Apply now

Ready to apply? Scroll up to begin your application now.

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Head to MoneySmart for more information on personal loans.

Factor In


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You won't use a penny to apply for our lender-finding service, but here's some costs you could expect from a lender

Loan amount

$300 - $2,000


12 months (minimum)

12 months (maximum)


20% upfront establishment fee

+ 4% monthly fee


Loan Amount of $1,000 over 6 months repayable weekly (25 weekly repayments). $1,000 (Principal Amount) + $200 (20% Establishment Fee) + $240 (fees based on 4% per month over 25 weeks) = $1,440 total repayable in 25 weekly installments of $57.60.

Under the current legislation, most small personal loan providers don’t charge an annual interest rate (you’ll know this as an APR) %. The maximum you will be charged is a flat 20% Establishment Fee and a flat 4% Monthly Fee. The maximum comparison rate on loans between $300 and $2000 is 199.43%. The minimum and maximum loan term is 12 months. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Loan amount

$2,001 - $4,600


13 months (minimum)

24 months (maximum)


48% Annual Percentage Rate (APR)

67.41% Comparison Rate p.a.


Loan Amount of $3,000 over 18 months repayable weekly (78 weekly repayments). $3,000 (Principal Amount) + $400 (Establishment Fee) + $1,379.06 (reducing interest) = $4,779.06 total repayable over 18 months with weekly installments of $61.27.

The Annual Percentage Rate (APR) for Secured Medium Loans is 48%. The Typical Comparison Rate is 67.41% p.a. The minimum loan term is 13 months and the maximum loan term is 24 months. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate with the lender that finances your loan. Click here to see a worked example.

Loan amount

$5,000 - $10,000


13 months (minimum)

24 months (maximum)


21.24% Annual Percentage Rate (APR)

48% Comparison Rate p.a.


Loan Amount of $10,000 over 24 months repayable weekly (104 weekly repayments). $10,000 (Principal Amount) + $5,577.12 (Interest) = $15,577.12 total repayable over 24 months with weekly installments of $149.78.

The Annual Percentage Rate (APR) for Secured Large Amount Loans is 48%. Maximum Comparison Rate is 48% p.a. The minimum loan term is 13 months and the maximum loan term is 24 months. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate with the lender that finances your loan. Click here to see a worked example.