Australia, Policy, Renewables

AGL partners with Plenti for green loans

green loans

AGL has announced a partnership with fintech lender Plenti Group to offer eligible customers discounted green loans for residential solar battery installations.

This initiative is supported by the Clean Energy Finance Corporation (CEFC) through its $1 billion Household Energy Upgrades Fund (HEUF), a Federal Government program aimed at helping homeowners transition to cheaper, cleaner energy sources while reducing their carbon footprint.

Eligible AGL customers will have the opportunity to apply for Plenti’s Green Loans to install solar batteries in their homes at an interest rate subsidised by finance from the CEFC’s HEUF program.

AGL Chief Customer Officer, Jo Egan, expressed the company’s aim to enable more customers to decarbonise and electrify their homes, workplaces, and transportation through accessible and affordable energy solutions.

“We know that upfront costs of decarbonising your home can be a significant barrier for many and providing access to competitive finance means more people are able to upgrade to these technologies,” she said.

“Our aim is to deliver accessible, easy to understand and affordable energy solutions for our customers – no matter where they are on their electrification journey.”

“Customers play an increasingly important part in the energy transition and core to AGL’s strategy is connecting our customers to a sustainable future.”

According to AGL, eligible customers who sign up for AGL’s Virtual Power Plant (VPP) program can receive additional benefits. A VPP is a network of connected solar batteries that can be coordinated to work together like a power plant, providing a controllable energy source to help stabilise the electricity grid.

“Australia already has one of the highest penetrations of rooftop solar in the world and by 2035, under AEMO’s 2024 ISP Step Change scenario, it is projected that 63GW of the total NEM system capacity will come from customer energy resources,” Egan said.

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