Finance Solar Panels Up To $10,000 | 100% Online | Apply With Nifty!

Looking to reduce your electricity costs?

Electricity bills continue to put high pressure on individual households. If you want to take back control of your energy costs, investing in a solar system for your home can help you budget more effectively.

With bright weather (almost) all year round, Australia has the perfect conditions to benefit from a natural source of energy that is available to everyone: the sun. Solar panels help you obtain energy and preserve it for you and your family to use whenever needed and solar loans can help you get there!

Why use your personal cash flow or wait to save enough to make the investment if you can easily use solar loans and make repayments on your terms? We offer solar loans from $2,500 to $10,000 with a quick outcome and turnaround. You could get an outcome in 60-minutes* if you apply during AEST business hours and you could receive your funds in 60-seconds after you’ve signed your contract**!

What is solar energy?

Sunlight is a renewable and green energy source that can be captured and converted into energy. It can be used to power your electronic devices, light up your house, or heat your water like any other source of electricity. You need to install solar panels to collect sunlight and store it as energy for further use.

And it’s a nifty way to save money long-term: sunlight is completely free, so once the initial costs are covered, you won’t have to spend money on energy production anymore. Solar panels are low-maintenance, green, and renewable.

Don’t worry if you don’t have the right amount of cash handy. Nifty solar loans can help you finance your initial investment before you start saving through your electricity bills.

How does solar energy work?

Solar panels contain multiple photovoltaic cells, better known as solar cells. They are made of semiconductors like silicon and convert sunlight into electricity. They allow particles of light called photons to knock electrons free from atoms, generating a flow of electricity.

Modern solar cells used in domestic installations can convert 20% of the sunlight they absorb into electricity. Some commercial systems have an efficiency rate of up to 40%. However, with advancing technology you can expect systems to become more efficient while dropping in price. While they still produce energy in shady conditions, their conversion is not as effective. Therefore, it’s important to place them in a spot where minimal shade falls onto them. For that reason, most people install them on their roofs but you may have a different place on your property in mind.

Save money with solar panels

Energy bills have increased over the last decades with more electric devices to run and a higher population density to deal with. As a renewable and sustainable source of energy, the sun is free to use for anyone. Once your installation costs are covered, you will start to see the gains: your carbon footprint will decrease and so will the costs of your electricity bills. The electricity that’s not being used by your household can be exported into the general system and even make you money.

While you have to initially invest in solar energy, the maintenance costs are very low. They will occasionally require cleaning and you should ensure that they are not covered or shaded by anything. If installed on your roof, occasional rain showers might even help to clean the panels. Most solar panels carry a 25-year warranty. However, they can last up to 40 years and produce energy just fine.

Before you even think about the individual pieces, we recommend that you measure how much electricity you use in your house. This can give you a good indication of how much excess energy a solar system can produce for you. Households with a higher amount of self-consumption will benefit more from solar systems. If you work from home or have a pool pump running, your self-consumption can be up to 64%. Do the maths yourself: self-consumed electricity can save you up to 30c per kWh while exported energy only earns you max. 20c per kWh.

Frequently Asked Questions

Who is eligible for solar loans?

If you would like to apply for our solar loans, make sure you check the eligibility criteria first:

  • Be at least 18 years old
  • Be an Australian citizen or permanent resident
  • Have an online banking account
  • Have had a consistent income, for at least the last 90-days
  • Have an active mobile number and email address
What to look for when shopping for solar?

When purchasing solar, you always need a system consisting of solar panels, an inverter, and mounting. There are two main types of solar panels that you can install on your roof: monocrystalline and polycrystalline. Don’t worry about the specifics of solar panel technology though. They both work equally well in Australian climates.

Inverters come as either string inverters or micro-inverters. While a string inverter is about the size of a briefcase, the micro-inverter is the size of a small book. You need one string inverter for your whole system or one micro-inverter per solar panel. We would recommend that you look for good quality in your inverters as they will be constantly under stress and are the first piece to fail after about 15 years.

Mounting is equally important. It attaches your solar panels to your roof and keeps them secure and in place.

Will you perform a credit check for solar loans?

Yes, we do.

But don’t worry if you have bad credit. Your credit history is not all we are looking for. As a responsible lender, it is our duty to check your previous financial history. But we mostly care about your current relationship with money. Unlike some traditional lenders, we won’t judge your suitability based only on your credit score.

We want to give everyone a fair shot to enable them access to personal finance though. We understand that life sometimes doesn’t go to plan and a mistake from the past shouldn’t affect your financial future.

How much does it cost to get solar loans?

Your application doesn’t come with any costs. However, there are of course costs that are linked to a personal loan. The overall costs depend on your repayment terms and the interest rate we can offer in your personal case. Of course, we won’t leave you in the dark. Any costs and fees will be stated in your loan contract and we highly recommend that you read it carefully before you sign anything. If you have any further questions about additional costs, you should get in touch with our customer service who will be happy to provide clarity. Otherwise, costs are stated online on our costs page.

How do repayments work?

We keep it simple. Once set up, you won’t have to think about repayments anymore. They are made by direct debit and are usually aligned with your pay cycle. You won’t have to do anything. The money automatically comes out of your account. If you need to make any changes to your repayments at any time, you can contact our team for amendments.

If you want to pay off your loan early, we won’t charge any extra fees. Isn’t that Nifty?! Instead, you may even save money on your interest. However, we may charge a penalty fee if you miss a payment. But we know your financial situation can change and if that’s the case, get in touch as soon as possible. We may be able to work out a solution together. Open communication is key.

Best practice lending

We love what we do and we do it well if we can say so. And it’s important to us that you have a great experience, too. That’s why we do what we do.

Responsible lending practice: We won’t lend you money we think you can’t afford to repay because we care. Instead, we assess your situation from all angles to ensure that our loans are suitable and affordable for you.

Easy and fast online service: Getting a loan doesn’t have to be a hassle anymore. We provide fast online services with a quick outcome to make loans easily accessible when you need them the most. Get nifty! All you need is a smartphone or computer and a few minutes of your day.

We are looking forward to helping you go green. Solar loans can support you on your path to renewable and sustainable energy. If you have any further questions, either head to our FAQ section or get in touch with our customer service team. Ask us anything. Our team will answer any open questions for you. Otherwise, if you are ready to apply, head to the top of this page and select your loan amount, loan term, and payment frequency. If you apply during AEST business hours, you could know your outcome within 60 minutes*!

Find a greener way to finance your home with Nifty’s green loans!

Are you ready to go Nifty?

Personal Loan Details

Loan Amounts $5,000 – $15,000
Loan Terms 9 – 24 months
Starting Interest Rate (APR) 11.42% (Excellent Credit)
Starting Comparison Rate 14.49% (Excellent Credit)
Ceiling Interest Rate (APR) 21.24% (Average Credit)
Ceiling Comparison Rate 45.56% (Average Credit)
Type of rate Fixed Rate
Repayment options Weekly, Fortnightly, Monthly
Monthly Fee $0
Early repayment fee $0
Average turnaround 60 minutes*
Loan Options Unsecured & secured options

Credit criteria and terms and conditions apply. Representative example: based on a loan of $10,000 over 36 months a borrower with an excellent credit history can expect to pay a total of $12,389.76. WARNING: This comparison rate is valid 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. Interest rates vary subject to a full credit assessment. This represents a comparison rate of 14.49% p.a. and includes all interest and fees included in your loan repayments over the life of your loan. For our personal loan product the APR starts from a minimum of 11.42% (14.49% comparison rate) with a maximum of 21.24% (45.56% comparison rate). The minimum loan term is 9 months and the maximum loan term is 24 months. For more details and examples visit our rates and fees page.