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Would you borrow money to install solar panels?

662 comments
Photo / Greg Bowker
Photo / Greg Bowker

The Green Party's promise to save households $100 a year on power bills by lending them money to buy solar panels has been tentatively backed by energy experts, despite the Government's claims that the policy is a costly subsidy.

Under the Solar Homes scheme, New Zealanders would be able to borrow up to $15,000 from the Government to install photovoltaic panels and then pay it back via their council rates over 15 years.

The interest rate on the loan would be the same as the Crown borrowing rate - at present 4.1 per cent.

Energy Minister Simon Bridges said if the scheme required a lower interest rate, it was a government subsidy. He said solar was not a priority because of the abundance of cheaper renewable energy such as hydro, geothermal and wind.

Would you borrow money to install solar panels? Here is the latest selection of Your Views:

Featured comments

"People borrow money to buy a car which is a financial liability. Why wouldn't you borrow money for something which has a payback?"

Spurs
Martin

"You are better off buying a system from someone that is not involved in the scheme. You probably can buy a bigger/better solar system that is also cheaper than taking this offer up."

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Would you borrow money to install solar panels?
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