AGL has today announced a partnership with fintech lender Plenti Group Limited to offer eligible customers discounted finance rates for residential solar batteries, with support from the Clean Energy Finance Corporation (CEFC).

From today, AGL customers apply for Green to install a solar battery in their homes at an interest rate the CEFC’s $1 billion Household Energy Upgrades Fund (HEUF), a Federal Government program helping homeowners fast track their transition to cheaper, cleaner energy – while lowering their carbon footprint.

AGL Chief Customer Officer, Jo Egan, said by offering access to competitive finance, AGL hoped to enable more customers to decarbonise and electrify the way they live, move and work.

“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.”

Further benefits are also available for eligible customers who sign up to AGL’s Virtual Power Plant (VPP).  A VPP is a network of connected solar batteries. These batteries can be coordinated to work together, just like a power plant.   When combined, the energy drawn from each battery can provide a bank of controllable energy which can help stabilise the electricity grid.

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

“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 63 GW of the total NEM system capacity will come from customer energy resources.”

“AGL’s VPP capacity is currently 1.25 GW and we are on track to deliver our target of 1.6 GW by 2027.”

Plenti Chief Executive Officer, Adam Bennett added “Accelerating the energy transition requires whole of industry collaboration to help Australian households with their electrification journey. Through its long-standing partnership, Plenti and AGL have always remained committed to building and delivering solutions that make access to renewable energy easier and more affordable for households.”

“We are delighted to be supporting AGL and its customers with solutions that make a difference.”

1. These loans are subject to Plenti’s credit and underwriting process.  The CEFC does not provide finance to individual borrowers and is not involved in individual financing decisions. The CEFC does not assess individual finance applications and does not provide grants.
https://www.plenti.com.au/newsroom/heuf-discounted-green-loans/
https://www.cefc.com.au/media/media-release/cefc-identifies-850m-in-potential-green-loans-announces-plenti-as-first-heuf-commitment/