National promises homeowners low-cost loans to install solar power

You can watch the announcement below.

National has promised to help households shift to solar power through low interest loans, if it's re-elected.

It planned to introduce a Home Energy Fund offering low-interest, long-term loans that are repaid through rates so households can invest in solar, batteries, insulation and heat pumps, without big upfront costs.

The party would also allow people to install solar without the need for council consent.

National's energy spokesperson Simeon Brown said uptake of residential solar, battery storage and on-farm generation was low.

"Just 3 percent of Kiwi households have solar, compared with about 9 percent in the United States and one in three in Australia," he said.

"In a more volatile world and with more severe weather events, supporting households to have greater control over their power will help more families store affordable energy when prices spike, and keep the lights on during outages."

The party's local government spokesperson Simon Watts said the fund was "inspired by" the Ratepayer Assistance Scheme that Local Government New Zealand and Rewiring Aotearoa had been calling for.

The biggest barrier to solar and battery use was its upfront cost, he said.

"National's Home Energy Fund will allow property owners to obtain a low-interest loan, secured against their property, to install solar and batteries without the big upfront cost and instead pay it off through their rates over time as they save on power bills."

The Energy Efficiency and Conservation Authority's website said most major banks offered zero or very low interest loans for energy efficient upgrades, like solar.

National also pledged to remove some planning rules to make it easier for households to install solar without the need for council consent.

RMA Reform spokesperson Chris Bishop said the current rules were fragmented and confusing.

"In one case, a council demanded a water discharge consent for ground-mounted solar because rain might run off the panels. That's the kind of nonsense we'll end."

National to invest $7 million

National said it would invest $7 million for a 20 percent shareholding in the Home Energy Fund, with the balance funded by participating councils and the Local Government Funding Agency.

It said loans would be available to ratepayers with at least 20 percent equity in their property.

Widespread political support for solar schemes

In this year's Budget the government invested $30 million in putting solar panels on 500 schools in a bid to ease the pressure of high energy costs.

Other parties have also indicated they would be campaigning on more support for solar.

Labour leader Chris Hipkins said his party had a policy on solar power in the last election and would do the same this year.

Greens co-leader Chloe Swarbrick said it was a no brainer for the government to be subsidising the production of renewable energy like rooftop solar.

Opportunity strongly supported a solar loan scheme and New Zealand First deputy Shane Jones said he was "quite interested" in it.

But ACT's energy spokesperson Simon Court said the party did not support solar subsidies.