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Auckland solar finance scheme launched

posted May 3, 2012, 8:01 PM by ema-1 ema-1   [ updated May 3, 2012, 8:03 PM ]
"From today Auckland residents will be able to take part in a renewable energy scheme that will help them save on power bills.

In an effort to create a more sustainable, resilient and liveable city, Mayor Len Brown has launched the Auckland Solar Project today at the home of Point Chevalier couple Ruth MacClure and Tony Morpeth.

"The project aims to install more than 250 solar hot water heating systems in homes and businesses across Auckland this year,” says Len Brown"

National Bank Solar Group Home Loan Package
 
Imagine installing quality solar water heating into your home without any initial cost while reducing your monthly housing expenses.

Sounds good? Let’s see how it works. 

Original Situation: The Jones’s average monthly power bill is $244

Home owners with a $300,000 loan 
Floating rate 5.74% 
Monthly loan repayments over 25 years   $1,886
Total monthly housing cost   $2,130

The Jones’s installed a Solar system for $10,000

National Bank adds $10,000 to the $300,000 loan with a special interest rate discount of -.25% p.a. 

New Situation: The Jones’s average monthly power bill is   $168

Loan is now $310,000 
Floating rate 5.49% (5.74% less -.25%) 
Monthly loan repayments over 25 years   $1,902
Total monthly housing cost   $2,070

Notes:
  • Above example is indication only as interest rates can vary over time.  
  • No Set Up Fees, No Legal Fees 
  • Subject to bank approval 
  • Available also to other banks customers via AP 
  • This unique package is only available via Solar Group representative and not via the bank’s branches





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