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How May’s top personal loans could help you avoid a hefty energy bill

How May’s top personal loans could help you avoid a hefty energy bill

Thinking about installing rooftop solar to cut down on rising energy bills? Get the ball rolling by comparing this month’s top green personal loans to help you finance the project.

This week, it was reported that Atlassian co-founder and tech billionaire Mike Cannon-Brookes acquired 11.3% of AGL Energy, in an effort to prevent a proposed demerger that he believes would be globally irresponsible.

Following this announcement, Mr Cannon-Brookes gave an interview on Nine’s The Today Show, in which he gave two reasons that energy bills are about to go up.

“The first is because of the prices of coal and gas and so much fossil fuel-generated energy in our grid,” Mr Cannon-Brookes said.

“And secondly is because of the unreliability of the coal power plants we have. The faster we can move Australia to decarbonise into renewables, the quicker we can bring your bill down.”

While Mr Cannon-Brookes is encouraging AGL shareholders to vote against the demerger in order to “accelerate the transition to net-zero while delivering reliable and affordable energy for customers,” installing rooftop solar could be one way to take things into your own hands.

While there is an upfront cost to consider when installing rooftop solar, it could help pay for itself in reduced power bills before you know it.

Plus, some lenders offer green personal loans at competitive interest rates for the purpose of rooftop solar installation as well as the purchase of other eligible energy efficient products for your home. 

Before making the decision to take out a green personal loan to help fund your rooftop solar installation, be sure to do your research and compare your options to find what’s right for you.

RateCity has put together some of the top-rated personal loans for May 2022 to help get you started on your comparison.

(Rankings are correct at the time of publishing. Please note lenders may trade places on the list as interest rates and fees change and RateCity’s tracker reflects these movements.) 

Top-rated green personal loans

Top-rated excellent credit personal loans

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This article was reviewed by Personal Finance Editor Alex Ritchie before it was published as part of RateCity's Fact Check process.

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