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A survey for Westpac shows nearly half of respondents were considering solar and cutting their power bill was the main motivator.
79% of respondents cited reducing their electricity costs as a reason for getting solar, with 60% saying it’s the main reason. Electricity prices have been rising faster than inflation in 2025 with many consumers facing price rises greater than 10%.
70% of respondents cited high levels of concern about rising electricity prices, with 58% of this group saying further price rises would make them more likely to consider solar.
As Westpac NZ managing product, sustainability and marketing director Sarah Hearn told RNZ:
"Solar is environmentally friendly, widely available, can add value to a property, is getting cheaper to install and can lead to significant cost savings on energy bills over time. However, installing solar panels can be a significant upfront cost. Nearly half of those surveyed who weren't planning to get solar cited cost as a reason. A quarter of respondents who do plan to get solar are putting it off for at least a year, which speaks to the cost pressures many are still facing."
New South Wales gets the memo about the importance of finance and announces scheme offering zero interest loans to households to upgrade to electric stuff; plug-in solar gets the tick of approval to go on sale in the UK soon and the New York Times says it could 'change America'; EVolocity takes electrification to the streets to gets the kids inspired (and eventually employed); a tour of the amazing recycling business Redwood Materials; Think Solar and BYD give it away now; and a skit that cuts close to the bone for many solar dads.
Read moreDownloadAdvances in technology and falling costs mean customer-owned solar and batteries can play a critical role in New Zealand’s energy infrastructure - improving affordability, resilience and sustainability. Multiple trading relationships (MTR) and peer-to-peer trading would enable this potential by increasing competition, customer choice, and innovation in the electricity market, unlocking greater consumer benefits from customer solar and batteries.
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