For purchases up to $30,000, CommBank is the first major bank to provide interest-free financing with certain merchants. Customers may split the cost into instalments over one to five years, helping them budget for greater spending. You may now pay for your solar and battery systems with CommBank's InstalPay product. UPowr is the first merchant to provide this service, which will help clients save money on their energy bills with a zero interest
personal loan.
Utilising Greener Options
UPowr simplifies the process of selecting and implementing solar and battery solutions using an online platform; it is a New Energy Tech Approved Seller. A significant project for the NSW Treasury’s Office of Energy & Climate Change, the Rebate Swap for Solar initiative, is now being delivered by UPowr in partnership with Energy Australia and Gentrack. CommBank clients are given more options when it comes to essential purchases thanks to InstalPay, according to Marcos Meneguzzo, CommBank's Executive General Manager of Consumer Finance. This is because the expenses may be spread out over a longer period of time.
Amortising Payments
It can be challenging to plan financially for certain major purchases for the home, particularly if you have to take a large financial hit up front. For instance, many CommBank clients are interested in solar investments, but the initial investment is prohibitive, according to Mr. Meneguzzo. With InstalPay, CommBank clients may pay for their UPowr products over time without interest, which means they can start saving money on their energy bills right away. When it comes to budgeting for major expenditures, InstalPay gives you additional options.
Net-Zero Emissions
By 2051, CommBank aims to have helped Australia achieve net-zero emissions, since it is a member of the Net Zero Banking Alliance. To help its clients combat the growing cost of living, CommBank has launched a suite of solutions to increase the energy efficiency of their houses. An announcement was made by Mr. Meneguzzo on the expansion of financing possibilities to include rooftop solar, batteries, electrification, energy efficiency, and electric or hybrid automobiles. Our goal is to increase the number of Australians who can afford these items.
Saving Energy Costs
Installing solar and battery solutions and seeing savings right immediately is now an option for more consumers thanks to InstalPay. During the next year, we want to broaden our InstalPay service to include more partners and CBA clients. According to Stu Philpot, CEO of UPowr, "UPowr is committed to offering homeowners a simpler way to manage their energy costs while making the switch to renewables effortless" with their new product, InstalPay. For all Australians, we have faith in a better, more sustainable future. Working together with CommBank furthers our goal of making green energy accessible and easy for all of their clients.
Summary
Davina Rooney, CEO of Australia's Green Building Council, gave CommBank her congratulations on their new interest-free
financing offer for solar and battery systems. More people in Australia will be able to access renewable energy sources, which is great news for those trying to save money on their energy bills and build more energy efficient houses.
Regarding UPowr
With their intuitive software, UPowr is leading the charge in the solar energy revolution, helping both commercial and residential clients with solar panel and battery system design, sales, and installation. UPowr's goal is to facilitate the effective and uncomplicated harnessing of solar energy so that everyone may enjoy sustainable energy.
