Green Loan: Add solar to your monthly bill

Solar can deliver enormous value to homeowners – but the upfront cost can be a hurdle for many.

To make things easier for our customers, we've partnered with Plenti (formerly RateSetter) to offer a low-rate green loan that can be used to cover the total or partial cost of your solar system. 

It’s quick, simple, and digital – 3 things we appreciate here at UPowr!

What is a green loan?

A green loan is a type of unsecured loan that can be used to fund the purchase and installation of approved clean energy products such as solar and batteries. Unlike personal loans or credit cards, the Plenti green loan provides a low-interest rate with terms of up to 7 years. Loans can be requested for amounts above $2,001.

How does it work?

If you’d like to pay for your system with a green loan, you can select it as a payment option on the UPowr Platform. This will then take you through to the UPowr x Plenti portal, where you can start your application. 

To keep it speedy and simple, make sure you have the following items ready:

• Your loan amount and desired loan term.
• Driver license of the homeowner applying (or passport).
• Address verification documents such as a utility bill or tenancy agreement.
• Information on things like your employment stability, income, expenses, repayment history and credit bureau information.  

If your application is successful, you will be conditionally approved. This lasts up to 90 days. UPowr is notified of your conditional approval status, and we then begin organising your installation. 

Once the installation is completed, Plenti will notify you to ‘draw down’ on your loan and the invoice amount is transferred directly to us. 

Customers then begin repayments directly to Plenti, where there are no exit fees for early repayment options. 

Who can apply? 

Plenti provides unsecured green loans to Australian residents who are:

• Aged 21 or over
• An Australian citizen or permanent resident
• Able to demonstrate a regular source of income 
• Considered to have a good credit history 

For more information about how the Plenti green loan works with your UPowr quote, get in touch with our team.