The green loan is an example of the finance sector being put to work in support of the environment. Banks and other financial institutions are depositaries for our money, therefore, directing them to channel investment into things like alternative energy can be a powerful tool for positive change. Green loans helping the environment: How do they work? A green loan is money lent for things like solar panels or batteries. This kind of investment can occur on the smaller domestic level and on the larger corporate level. Positive change can be encouraged via these kinds of ethical investments in a net zero emission future for Australia and the world.
What Are Green Loans Used For?
Simply contact a supplier of green loans to find out if you qualify for this kind of finance. Good citizens who are interested in reducing their carbon footprint can access money for the right kind of projects. Energy efficient devices like electric cars, solar panels, batteries, heat pump hot water systems and grey water plumbing can all qualify as environmentally friendly projects. This is money put to a good use for a greener Australia in a net zero emission 21C environment.
What Green Products & Services Qualify?
Green loans are unsecured personal loans used to purchase environmentally friendly products. They can also be a car loan specifically for buying hybrids and electric vehicles. In addition, there is talk of green home loans coming to the market sometime soon. The green products include insulation, battery systems, solar panels, heat pumps, rainwater tanks, grey water systems, energy efficient heating and cooling products, double glazing, and energy efficient devices. The green loan is currently marketed primarily for the domestic sector. They are instruments designed to reward and encourage the mums and dads out there to do the right thing for Australia in a climate of global warming and net zero emissions.
How Do They Compare?
If you do qualify for one of these green loans, how does it compare to a bog standard loan? The financial institutions offering these environmentally friendly loans, usually, offer a more competitive interest rate. This is in line with these financial products encouraging the market to invest in more environmentally friendly stuff. You can often find 1% or 2% better rates for these unsecured personal loans and/or secured car loans if they are green. There are around 20 or so banks and credit unions offering green loans in Australia.
