23 September 2010 – The Commonwealth Bank has announced an alliance with Lend Lease Solar to use its network of over a million home loan customers as part of a project to offer premium solar electricity systems to Australian households.
Available from November this year, the Bank’s retail customers will have the option of financing the purchase of a solar energy system through their existing home loan by redrawing or topping up the balance.
The system uses the latest solar technology to generate electricity for use in the home or feed back into the electricity grid. For Australian households, this enables long-term savings on energy costs while improving sustainable living practices.
To deliver a world class solar energy system, Lend Lease Solar has established an exclusive supply partnership with US-based First Solar – the leading manufacturer of thin film solar panels.
Lend Lease Solar’s general manager Chris Carolan said that with government funding renewable energy will provide a greater share of Australia’s total electricity production.
“Australia has significant solar resources but only 0.2 per cent of total electricity production comes from this kind of power.
“Investment in renewable energy is accelerating as the Federal Government’s Renewable Energy Target ramps up, and state governments expand feed-in tariffs for solar. This means there are many opportunities for us and our partner, Commonwealth Bank, to take a leadership position,” Chris said.