Suncorp Green Upgrades Equity Loan

Suncorp's Green Upgrades Equity Home Loan helps eligible Suncorp Bank customers access their home equity to fund energy-efficient upgrades. The Green Upgrades Equity Loan enables homeowners to borrow at discounted rates to install solar panels, batteries, heat pump hot water systems, energy-efficient appliances, and more.

Installing energy-efficient technologies using Suncorp's equity loan enables customers to save money on both borrowing costs and energy bills, add value to their property, and protect themselves against rising energy costs.

Why Choose Suncorp's Green Upgrades Equity Loan

 

Suncorp's Green Upgrades Equity Loan offers exceptional value with a rate of just 5.59% p.a. You can borrow between $10,000 and $25,000, and the loan sits separate to your existing home loan. With no establishment fees and funds available within 5-10 business days of approval, this loan provides one of the most cost-effective ways to finance energy upgrades in Australia today.

Compare Suncorp's Green Upgrades Equity Loan with the CommBank Green Loan, Westpac's green loan and ING Green Upgrade Loan below. Don't have a mortgage with these banks? If you've paid off your mortgage or your home loan is with another bank, explore our Ultimate Green Loan Guide to discover the right finance solution for you.

Use our Free Home Assessment to find out what upgrades you can make to your property


To make the most of this loan, it's important to know which upgrades will deliver you the biggest savings, and in what order. That's where the 28Watt Free Home Assessment comes in.

We understand that navigating energy-efficient upgrades can feel overwhelming. Which product should you prioritise? How much will it cost? What will it save you? Our Free Home Assessment answers these questions, providing a clear roadmap tailored to your home. Here's what you'll get:

  1. A personalised plan: Learn which improvements will save you the most money and qualify for Suncorp's green upgrade program.
  2. Clear cost estimates: Understand the upfront investment savings potential for each upgrade.
  3. Trusted installers: We'll connect you with accredited and experienced installers who meet Suncorp's requirements.

Start your free home assessment

Eligible Green Upgrades

  • Solar systems 
  • Home batteries
  • Solar hot water system
  • Insulation
  • Energy-efficient glazing and windows
  • Water tanks and water collection systems
  • Energy-efficient appliances
  • EV charging points 

Why the Suncorp green loan and 28Watt work so well together

The combination of Suncorp's ultra-competitive equity loan rates and 28Watt's energy expertise creates a powerful opportunity for homeowners. Our Free Home Assessment helps you navigate Suncorp's approved installer requirements while identifying which upgrades will deliver the highest energy savings within your $10,000-$25,000 budget.

We coordinate the entire process, ensuring every dollar of your equity loan works as hard as possible for your home and your wallet.

What you need to qualify for the Suncorp green loan

To qualify for Suncorp's Green Upgrades Equity Loan, you must meet the following criteria:

  • A Suncorp home loan balance of $150,000 or more
  • A Loan to Value ratio not exceeding 80% (incl. the new loan)
  • Provide written quotes from approved suppliers and installers with your application
  • The Green Loan must be secured against the same home

How to get started

  1. Complete Your Free Home Assessment: We'll help you determine the best upgrades for your home, provide preliminary quotes, and connect you with Suncorp-approved installers.
  2. Speak to Suncorp: Contact a Suncorp Bank lender to confirm your eligibility and available equity amount under the 80% LVR limit.
  3. Obtain Approved Quotes: Using recommendations from your 28Watt assessment, gather written quotes from accredited installers that meet Suncorp's requirements. Provide your green upgrade quotes with your loan application to Suncorp Bank for assessment.
  4. Loan approval and installation: Once approved and loan documents are signed, funds are deposited into your nominated account. Pay your installer directly from the loan funds once work is completed to your satisfaction.

28Watt's Takeaway

Suncorp's Green Upgrades Equity Loan is an innovative approach to green financing for existing Suncorp Bank customers. As one of Australia's largest regional banks with a strong presence in Queensland and growing national footprint, Suncorp is well-positioned to help homeowners access their equity for energy upgrades.

What makes this loan stand out is the great rate - at just 5.59% p.a., it offers one of the lowest rates available for secured green lending in Australia today.

The comprehensive list of eligible upgrades covers all the major energy-efficient technologies, from solar and batteries to heat pumps and EV charging stations. However, the loan is limited to existing Suncorp customers with sufficient equity, and the $25,000 maximum may not cover larger whole-home electrification projects.

At 28Watt, we're here to make home electrification simple, affordable, and effective. Suncorp's Green Upgrades Equity Loan is a fantastic tool for eligible Suncorp customers, but if that's not you, check out some green loan alternatives below.