A new way to navigate battery, solar and EV charger solutions with CommBank Home Energy Upgrades
Discounted loans and customer service make home energy upgrades easier
The Commonwealth Bank innovative Home Energy Upgrades program, backed by the CEFC, is making it easier for customers to finance the latest clean energy solutions for their homes.
$20 million
CEFC commitment
Making homes
greener
Discounted
finance
This is an initiative that helps households access low-interest loans to complement the Australian Government’s Cheaper Home Batteries Program and support further financing needs for their home energy upgrades.Grace TamHead of Consumer Finance, CEFC
Our investment
The CEFC, through the Household Energy Upgrades Fund™ (HEUF), has committed up to $20 million to the CommBank Home Energy Upgrades service that helps address barriers to reducing home energy bills.
CEFC finance will enable discounted unsecured fixed-rate personal loans through the CommBank Home Energy Upgrades service to install rooftop solar, home batteries and EV chargers.
The loans can be used to complement the Australian Government’s Cheaper Home Batteries Program from 1 July 2025.
As part of the service, CommBank has developed a digital marketplace with Brighte to make it easier for eligible customers to access personalised quotes from accredited solar and battery installers across Australia.
The new Home Energy Upgrades service empowers customers to explore tailored solutions, from solar panel installations and battery storage through to EV chargers. Through the CommBank app, customers can now identify the best options to reduce their energy consumption, estimate potential cost savings, and apply for low interest finance through one integrated digital experience.Joel LarsenGeneral Manager Commonwealth Bank
OUR IMPACT
Supporting households to optimise solar energy with batteries
Australians could collectively save more than $4 billion a year on their power bills if more than two million batteries were added to households. Climate Council research has found that a home battery can almost double the savings for homes with rooftop solar, to up to $2,300 a year.
Households can further boost savings by using the battery in an electric vehicle to store power and send it back to the grid using vehicle-to-grid technology.1 While batteries can save families money on power bills, they can also make electricity systems more reliable, powering essential services and appliances when power supply is disrupted in severe weather events.
Upfront costs of installing solar and battery systems have been a major hurdle for households wanting to optimise their rooftops for energy generation.
Research by Brighte has found that 52 per cent of respondents said the upfront cost of battery installations was too high and the process was overwhelming.
Low-cost finance for better performance
The CEFC, through the HEUF, is working with retail financiers to provide low-cost finance for best-practice household energy performance initiatives. Tailored and discounted finance products being developed with co-financiers are aimed at making it easier for households to reduce their carbon footprints through retrofitting their existing homes.
Learn more about the HEUF.
1. Climate Council: Battery Boom: Supercharging Australia’s Renewable Rollout
