So, investing in an eco-upgrade can be beneficial in three ways:
- Reduces your impact on the environment
- Ongoing savings on your energy bills
- Added appeal and value to your home.
Best of all, you may qualify for a heavily discounted loan on money borrowed to fund eco-upgrades with the CommBank Green Loan.
How can you make your home more energy efficient?
There are a few ways you can reduce both your impact on the environment and your household bills at the same time.
Customers with an eligible CommBank home loan or investment home loan can apply for the CommBank Green Loan to buy and install eligible clean energy products such as solar panels, battery packs and solar hot water systems at the property secured by their existing home loan.
A set of solar panels on the roof can generate an instant return on investment by way of reduced electricity bills. Research from Canstar Blue found the average household with solar panels received a saving of $236 a quarter, or almost $1,000 a year.
If you want to supercharge your solar system, consider installing a battery pack or battery storage, such as the Tesla Powerwall or Sonnen Battery System. This works in conjunction with your home's solar panel system to store the solar energy you produce but don’t use; currently, this energy gets sent back to the grid.
Electric vehicle charging
A standard residential plug socket is the slowest way to charge an electric vehicle. So if you’re investing in an electric vehicle (EV), it’s worth considering investing in a wall-mounted EV charge station, too.
Green energy supply
Renewables are now the cheapest form of energy. Sign up for greener (and cheaper) energy supply, such as Amber, who offer direct wholesale energy rates to customers. With Amber, you get access to the wholesale energy price so you can take advantage of this and do right by the planet and your pocket.
Solar hot water system
Government estimates suggest that a solar hot water system (SHWS) could provide 50%-90% of your hot water needs, which is why a SHWS or a heat pump can help to significantly lower your ongoing energy bills.
Paying for your eco-upgrades
You may need finance to make some of these positive environmental decisions feasible, which is where the CommBank Green Loan can help. For eligible home loan customers, this is an additional loan that can be used to purchase and install eligible clean energy products to your property.