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Overcoming
cost barriers

See payment options

Let's see how you can help more customers get solar by removing the barrier of upfront costs.

IT STARTS WITH…

“I want to get solar because energy is getting too expensive”

We hear this a lot from customers. As electricity prices rise, rooftop solar becomes an even more attractive investment for homeowners.

How are economic conditions impacting households?

How does high inflation affect everyday Australians?

Inflation measures the rise in the cost of goods and services compared to the previous year. In Australia, inflation is currently at 5.1% and is expected to hit 7% this year - the highest rate in almost 30 years. On average, homeowners are paying more for everyday items and expenses like groceries, transport, clothing and even recreation.

What’s happening with energy prices?

On top of rising inflation and interest rates, wholesale electricity prices have more than doubled in the past year, resulting in higher energy bills. Some Australians are being warned to expect their bills to increase by hundreds of dollars a year. Read more about rising energy prices.

What’s happening with interest rates?

To combat rising inflation, the Reserve Bank of Australia (RBA) has raised the cash rate: the interest rate charged on loans between financial institutions like banks. This typically translates to higher interest rates for consumers on loans like mortgages, increasing their repayment amounts and reducing their discretionary income available to make purchases.

BUT THEN…

“We can't afford to install solar right now”

As the cost of living increases, homeowners can become more wary of dipping into their savings. Offering payment solutions that don’t require a large lump sum payment could help your customers install solar and batteries sooner.

Upfront investment is a barrier that can cause your customers to get cold-feet. The large upfront cost can distract from the long-term return on investment.

Concerns about future expenses and uncertainty can lead customers to avoid making large out-of-pocket purchases.

WITH FINANCE…

“Brighte made it simple and easy for us without having to outlay a lot of cash up front”

Via

Finance removes the biggest barrier for customers by allowing the cost to be split into smaller instalments.

There's a set repayment amount and timeframe which makes is easier for customers to manage.

Help more customers get solar by offering finance

Let’s explore the common payment options

Offering simple payment options at the point of sale could help you convert more customers. Generally, options available to customers can include the following.

Cash

Features

  • Can be readily available
  • No fees or charges

Considerations

  • A lump sum payment can significantly reduce a customer's savings balance

Mortgage redraw

Features

  • Can be readily available
  • Consolidates customer's debt
  • Typically a variable interest rate

Considerations

  • Any redraw fees or limits
  • Amount of interest paid over time (e.g. 3.5% over 30 years)

Payment plan

Features

  • Allows cost to be split into smaller instalments
  • Set repayment amount and timeframe
  • No upfront costs in many cases
  • Typically interest-free

Considerations

  • Any fees or recurring charges
  • Late payment fees

Brighte option

0% Interest Payment Plan

  • Borrow up to $30k
  • 0% interest
  • 6-60 month terms
  • No fee for early repayment
  • No establishment fee for customers, $2.15/weekly account keeping fee
  • $4.99 late payment fee may apply (capped at $49.90/year)
Learn more

Personal loan

Features

  • Allows cost to be split into smaller instalments
  • Set repayment amount and timeframe
  • Fixed or variable interest rate
  • Typically requires credit check

Considerations

  • Any establishment fees or recurring charges
  • Amount of interest paid over time
  • Can be a one-off credit purchase

Brighte option

Brighte Green Loan for energy efficient products.

  • Borrow up to $30k
  • 7.99% p.a. fixed interest rate* (9.21% p.a. comparison rate^)
  • 2-7 years repayment terms
  • No fee for early repayment
  • $299 establishment fee added to loan amount
Learn more

The information contained on this web site is general in nature and does not take into account your personal situation. You should consider whether the information is appropriate to your needs, and where appropriate, seek professional advice from a financial adviser.

* Information and interest rates are current as at 4 July 2022 and are subject to change. Fees applicable include: Establishment fee of $299 and $2.70/weekly account keeping. Late payment fee of $4.99 may be charged by Brighte if you miss a repayment. All applications for credit are subject to Brighte’s credit approval. Fees, terms and conditions apply.

^ Comparison rate calculated on an unsecured loan amount of $30,000 over a term of 5 years based on fortnightly repayments.

WARNING: This comparison rate is true only for these examples and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Upcoming Brighte guides

To help you navigate this changing market, we're creating a series of guides on the key factors impacting homeowners today.

Try our repayments calculator

Calculate the fortnightly repayment amount for your customers in 3 simple steps.

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