NSW government and RateSetter collab to offer zero interest green loans

By Katherine O'Chee · · 2 min read
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It’s no secret power prices in Australia have been surging for some years now, but for households who’ve been struggling to keep up with high energy bills, there’s good news on the horizon. 

The NSW Government has just launched an Empowering Homes program aimed at helping Aussies install solar batteries inside their homes - and it’s a move that could give more households the financial means to switch to solar and lower their energy bills. 

Funded by the government-owned Clean Energy Finance Corporation, the program will give eligible households access to interest-free personal loans with peer-to-peer lender Ratesetter - up to $14,000 for a new solar battery system, or up to $9,000 for the addition of a battery to an existing solar system. 

According to RateSetter CEO, Daniel Foggo, the program will make going green a cheaper option for homeowners. 

“Since the outset of our renewable energy lending business, we have observed increased consumer demand for solar power. However, consumers often balk at the upfront costs. This program goes a long way to remove financial barriers associated with renewable energy and to empower homeowners to save more on their electricity bills,” Foggo said. 

Government estimates show that by joining the program, households using more than 6,000kWh of electricity a year could save over $250 annually while paying off their loan. 

RELATED ARTICLE: Aussies are keener on installing solar panels, but how are they paying for them? 

Hunter region pilot

The program will first run as a pilot for up to 12 months in the Hunter region, before rolling out statewide for up to 300,000 NSW homeowners. 

So who’s eligible? Right now, the offer is available to households earning up to $180,000 a year and with a postcode in Cessnock, Dungog, Lake Macquarie, Maitland, Mid-Coast, Muswellbrook, Port Stephens, Singleton or Upper Hunter. 

“Eligible Hunter residents will have an early opportunity to unlock the saving and sustainability benefits offered by solar battery systems by taking out a loan to purchase them interest-free,” NSW Minister for Energy, Matthew Kean said. 

What if I’m not eligible for the Empowering Homes program? 

If you don’t live in the Hunter region and want to purchase solar or battery storage in the next 12 months, there are other funding options available such as green personal loans. 

“Green personal loans are designed to help borrowers make eco-friendly purchases like solar batteries and electric cars,” Mozo Director and Money Expert, Kirsty Lamont said. 

“And there’s lots to love about these loans. For one, they generally come with lower interest rates, which could potentially mean hundreds of dollars saved over the life of your loan - so not only are they good for the environment, but they’re also kinder to your wallet!” 

According to the Mozo database, the average headline interest rate for a green personal loan is 7.43% p.a, whereas the the average unsecured personal loan rate is 10.92% p.a.. 

Ready to switch to solar and save? Then make your first stop our personal loan comparison table or if you want to learn more about battery storage, check out our home battery storage guide! 

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Last updated 20 June 2025 Important disclosures and comparison rate warning*
  • Unsecured Personal Loan

    Fixed

    interest rate
    comparison rate
    Monthly repayment
    6.45% p.a.to 26.95% p.a.
    6.45% p.a.to 26.95% p.a.based on $30,000
    over 5 years

    Borrow up to $50,000 unsecured. Perfect if you earn more than $22,100 p.a. and have good to excellent credit. Multi-year winner of Mozo’s Experts Choice Unsecured Personal Loan Award, 2021, 2022, 2023 & 2024^'

    Repayment terms from 2 years to 7 years. Representative example: a 5 year $30,000 loan at 6.45% would cost $35,176.93 including fees.

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  • Any Age Car Loan

    Variable, Secured

    interest rate
    comparison rate
    Monthly repayment
    8.99% p.a.
    9.27% p.a.based on $30,000
    over 5 years

    Borrow between $5,000 - $25,000 over 1 to 7 year loan terms. No monthly fees and no penalties for extra repayments.

    Repayment terms from 1 year to 7 years. Representative example: a 5 year $30,000 loan at 8.99% would cost $37,551.30 including fees.

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  • Express Personal Loan

    Secured

    interest rate
    comparison rate
    Monthly repayment
    16.95% p.a.to 29.95% p.a.
    32.99% p.a.to 45.5% p.a.based on $10,000
    over 3 years

    Access fast finance on loans from $3,000 to $25,000 with a Jacaranda Finance Personal Loan. Terms from 25-36 months. Check if you qualify with no impact on your credit score. Enjoy a speedy, online approval.

    Repayment terms from 2 years to 3 years. Representative example: a 3 year $10,000 loan at 16.95% would cost $14,952.03 including fees.

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  • Personal Loan

    Variable, Unsecured

    interest rate
    comparison rate
    Monthly repayment
    13.74% p.a.
    14.80% p.a.based on $10,000
    over 3 years

    Borrow between $5,000 - $25,000 over 1 to 7 year loan terms. No monthly fees and no penalties for extra repayments.

    Repayment terms from 1 year to 7 years. Representative example: a 3 year $10,000 loan at 13.74% would cost $12,408.54 including fees.

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  • Low Rate Personal Loan

    Exceptional Credit, $5,000 - $75,000, or up to $100,000 for eligible purposes

    interest rate
    comparison rate
    Monthly repayment
    6.28% p.a.to 18.99% p.a.
    6.28% p.a.to 21.78% p.a.based on $30,000
    over 5 years

    Competitive low rates for borrowers with exceptional credit on 1-7 year loans from $5,000 up to $75,000 (or up to $100K for home improvements or car loans); plus free extra repayments. Winner of Mozo's Experts Choice Excellent Credit Unsecured Personal Loan 2024 and Excellent Credit Secured Personal Loan 2024 awards ^. Min. income of 25k after tax, to apply.

    Repayment terms from 1 year to 7 years. Representative example: a 5 year $30,000 loan at 6.28% would cost $35,033.88 including fees.

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* WARNING: The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a personal loan. The comparison rates displayed are calculated based on a loan of $30,000 for a term of 5 years or a loan of $10,000 for a term of 3 years as indicated, based on monthly principal and interest repayments, on a secured basis for secured loans and an unsecured basis for unsecured loans. This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

^See information about the Mozo Experts Choice Personal Loan Awards

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