With household energy contributing significantly to Australia’s carbon footprint, ING’s initiative simplifies the journey toward energy-efficient homes. Partnering with BOOM! Power, ING provides a one-stop shop solution to identify cost-saving opportunities, connect with accredited installers, and explore rebates.

A practical solution for home owners

The Green Upgrade Loan offers owner-occupiers and investors a competitive 3.74 per cent p.a. five-year fixed interest rate (comparison rate: 5.16 per cent p.a. for owner-occupiers, 5.24 per cent p.a. for investors)* to fund eligible energy-efficient upgrades. Backed by the Clean Energy Finance Corporation (CEFC) through its $1 billion Household Energy Upgrades Fund, this initiative makes sustainable home improvements more accessible.

*For owner-occupiers and investors making principal and interest repayments. Different comparison rates apply if the applicable variable rate following the expiry of the fixed rate interest rate period is an investor and/or interest-only rate. Comparison rate: The comparison rate for the home loan is based on a loan amount of $150,000 over a loan term of 25 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees, or other loan amounts might result in a different comparison rate.

ING’s head of mortgages, George Thompson, says: “Household emissions are one of the biggest contributors to Australia’s carbon footprint. Together with BOOM! Power, we’re helping customers make meaningful improvements.”

Energy efficient home upgrades made easy

Launching in Victoria, NSW, and the ACT in December 2024 with Queensland recently joining the mix, the plan is to expand to the remaining states in Q1 this year.

The new Home Energy Helper is an online platform for customers to source quotes from accredited installers, see what rebates they may qualify for, and assess the potential impact of their renovation on their energy bills and household emissions.

For brokers, this is an opportunity to better serve environmentally conscious clients. ING emphasises that brokers can play a key role in educating customers about financing options, helping them navigate government incentives and upfront costs.

Meeting the growing demand

ING’s timing is ideal. The surge in demand for finance products reflects increased awareness of climate change and stronger government support for sustainability initiatives.

“ING Green Upgrade Loan was created to meet this demand by providing easy access to energy-efficient upgrades,” says Thompson.

ING’s offering removes barriers like cost and complexity, making energy efficiency more attainable.

The bigger picture

ING is committed to being an active part of the transition to a lower-carbon economy and we know that helping Australians make their homes more energy-efficient can have a significant impact to help increase housing sector sustainability.

Private and public sectors working together on initiatives like the Home Energy Helper signal a brighter, more sustainable future.