Short answer: New Zealand doesn’t offer a government cash rebate for residential solar, but all five major banks offer low or zero-interest “green loans” that can cover a solar and battery install, and some councils run their own low-interest home retrofit schemes on top of that. If you’re financing a system rather than paying cash, this is where the real support is – not a subsidy, a cheaper way to borrow.
Loan terms change, so treat the numbers below as a starting point for a conversation with your bank, not a locked-in quote – always confirm current rates before budgeting a system around them.
Bank green loans
| Bank | Typical terms |
|---|---|
| Westpac | Up to $50,000 at 0% for 5 years |
| ANZ | Up to $80,000 at 1% for 3 years, then standard rates |
| BNZ | Up to $80,000 at 1% for 3 years, then standard rates |
| ASB | Up to $80,000 at 1% for 3 years, then standard rates |
These are typically structured as a top-up to an existing mortgage, at a discounted rate for a fixed period before reverting to your standard mortgage rate – which matters when working out real repayments if you’re planning to hold the loan longer than the discounted term.
Council schemes
Some councils run their own low-interest retrofit loans that can apply to solar – Auckland Council’s Retrofit Your Home scheme is one example. These finance the system rather than reduce its cost, similar to the bank options, and eligibility and terms vary by council, so it’s worth checking current terms for your specific district before assuming you qualify.
What about Warmer Kiwi Homes?
EECA’s Warmer Kiwi Homes programme has historically focused on insulation and heating rather than solar, though there has been discussion of it expanding to cover solar in future. Don’t budget a system around this until eligibility and rollout details are actually confirmed – it’s worth keeping an eye on, not relying on yet.
If you’re buying as a business, not a homeowner
Businesses have a separate, and arguably more useful, option: the Investment Boost tax deduction, which lets you immediately deduct 20% of the cost of new commercial solar assets. We’ve covered that in detail in our Investment Boost guide – worth reading if you’re financing solar for a farm or commercial property rather than a home.
Frequently asked questions
Is there a government rebate for solar in NZ?
No – as of 2026 there’s no direct cash rebate for residential solar. The support that exists is in the form of discounted loans, not a subsidy.
Do these loans cover installation as well as equipment?
Typically yes, but confirm with your specific bank – loan terms and what’s covered can vary and change over time.
Should I finance a system or pay cash?
If a 0% or 1% green loan is available to you, financing can make sense even if you could pay cash, since the discounted rate is often cheaper than the return you’d get leaving that cash elsewhere. That said, it’s a decision worth making with your own financial situation in mind, not a blanket rule.