Guide: Financing Your Solar With Zip Money

Published: 23 September 2021

Purchasing solar can seem like a big investment, but with $0 deposit, interest-free financing from Zip Money you can be cash flow positive from day one!

Zip Money provides interest-free financing with multiple vendors, including Nectr. Depending on your purchase, Zip Money offers up to $50,000 with a repayment period of up to 60 months. You can use this financing option to install a home solar system, and then pay with the electricity savings achieved.

  • ZipMoney only charges $6/month during the repayment period, and $15 for late payments and declined transactions.
  • The minimum payment is $40/month or 3% of your current balance (whichever is higher).

If you purchase a solar PV system with Zip Money, and you’re approved for an interest-free period of 60 months, you only pay $360 in total fees. On the other hand, with a $5,000 personal loan at 8% per year, your interest payments over five years will exceed $1,000.

Below we will provide a simple financial projection, showing how a home solar system can cover its own cost when using Zip Money. We will consider a 6.6-kW solar system operating with the typical sunshine conditions of Brisbane, QLD. The system has a price of $5,299 and the interest-free repayment period is 5 years.

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Financing a 6.6-kW solar system with Zip Money

With the sunshine available in South East Queensland,  a 6.6-kW solar system can be expected to generate 9,000 – 10,000 kilowatt-hours per year. To estimate how this translates into power bill savings, we will assume the following conditions:

  • The solar PV system provides 9,500 kWh per year.
  • 40% of that energy is consumed directly, saving you 22 cents/kWh.
  • The other 60% is exported to the grid, and you get a feed-in tariff of 12 cents/kWh.

With these rates, you get $836 in direct savings and $684 in credit for solar exports, reducing your power bills by $1,520 during the first year. If electricity prices continue increasing, even higher savings can be expected during the following years.

The minimum payment with Zip Money is $40/month or 3% of your balance – whichever is higher. Since 3% of $5,299 is $159, your payments will be higher during the first months, but no interest is charged. Zip Money will only start charging interest if you exceed the approved repayment period – up to 60 months in this example.

The following table compares the annual savings and payments achieved by the 6.6-kW solar power system over 10  years, and total payments during the first 5 years (assuming no late fees or dishonour fees). Note how the loan is fully paid off with power bill savings, and the solar PV system is approaching $10,000 in cumulative savings after 10 years.

YearPaymentsSavingsNet SavingsAccum. Savings

The chart below provides the cash flow projection for the 6.6-kW solar system over 10 years, based on these savings and payments:

We considered the first 10 years for simplicity, but high-quality solar panels are normally rated for 25-30 years – the cumulative savings over time will be much higher.

Who can use Zip Money for solar finance?

To qualify for Zip Money, you must meet the following requirements:

  • Being an Australian citizen or permanent resident
  • Being at least 18 years old.
  • Having a primary income of at least $300 per week (some pensions are accepted).
  • Having a good credit record.
  • Having a valid email address and mobile number.

Want to learn more? Contact us today!

Next Steps…

Interested in solar? By clicking below you can use our smart solar calculator to find out just how much you could save with solar, what rebate you are eligible for, and the impact you will have on the environment.

Don’t wait until next quarter’s bloated bill, and get started today!

Click here to calculate your solar savings!

Join over 20,000 homeowners who have made the switch with Nectr, or the 1000+ positive reviewers who have been more than happy with their solar install.

Otherwise, you can always contact us on 1300 133 556, or email if you prefer at

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