The National Australia Bank and Origin Energy have partnered up so homeowners will be able to save up to $2,250 on the cost of a new solar system. The NAB Solar credit card rewards scheme will include the option to purchase and install solar panels through Origin via purchasing vouchers with rewards points.
Origin and NAB Solar Rewards
According to domain.com.au and NAB Consumer Lending executive general manager Angus Gilfillan, the scheme will be launched on November 28 and will max out at $2,250, for new NAB Home Loan and Banking Bundle customers who redeem 350,000 rewards points.
According to Mr. Gilfillan, the high cost of entry of solar installations is something NAB are trying to mitigate with their new scheme, saying :
“We know that cost is a significant factor for consumers when making a purchase, so we hope this initiative makes it easier and more affordable for Australians to make the switch to solar.”
Ryan Willemsen-Bell, the Origin Solar and Energy Solutions General Manager of Business, said that you don’t need to be an Origin customer to take advantage of their offer and they could save almost 60% on a new install in certain circumstances:
“Using suppliers Fronius and Zeversolar for inverters and China-made panels from China Sunergy and Trina, the outlay for a 3.2-kilowatt solar system would be about $1500 under the new offer compared with a retail price of $3593,” he said.
According to Mr. Willemsen-Bell, the average solar+battery system costs around $13,000 and Origin are trying to find ways to make it more affordable for their customers – offering incentives for solar power users such as a two year interest free payment plan and a Solar Flex power purchase agreement for power from solar panels installed and owned by Origin (an offer which has been taken up by a lot of commercial solar customers, he said).
We’re not sure how long it’d take to accrue 350,000 rewards points, but this seems like a great way to bring down the initial cost of installing a solar system – please let us know in the comments how you go if you take them up on this offer!