NZ Election 2026: Which Parties Are Promising Solar Loans and Cheaper Power?
Solar is in the spotlight this election, with parties proposing loans, subsidies and other measures to help New Zealand households generate their own electricity. But installing solar is only part of the equation when it comes to reducing your power bills.
With the 2026 General Election approaching on 7 November, household electricity costs are a key issue. National, Labour, the Greens and The Opportunity Party have all announced measures to encourage household solar, although their approaches and levels of support differ. Other parties have focused more on electricity-market reform and energy affordability.
Here's what the major parties have proposed — and what it could mean for your household.
National: Home Energy Fund
National is proposing a Home Energy Fund, backed by central government and participating councils, to help households finance solar panels, batteries, insulation and other home energy improvements.
Under the proposal:
* Homeowners could access low-interest, long-term loans, repaid through their rates or when the property is sold.
* Loans would be available to property owners with at least 20% equity.
* Rooftop solar installations would be allowed without council consent, including where certain existing planning restrictions apply.
* Plug-in solar panels would be available to buy in shops within the first six months of a re-elected National Government.
The proposed loans would run over approximately 10 years, helping spread the upfront cost of installing solar.
National's approach centres on reducing barriers to investment, increasing household energy independence and making it easier to generate electricity at home. Read National's Home Energy Fund policy
Labour: SolarSaver
Labour has announced SolarSaver, a proposed $160 million programme over four years intended to make solar more accessible by removing upfront costs.
Its proposals include:
* Government-backed, long-term, low-interest loans for solar panels and batteries, with repayment through electricity bills or a property-linked scheme.
* Subsidies of up to $3,000 for eligible low- and middle-income households, including renters.
* A $30 million fund for community batteries, allowing neighbourhoods to share some of the benefits of stored solar power.
* Changes to enable renters to use plug-in solar panels.
* Free, independent advice through the Energy Efficiency and Conservation Authority (EECA).
Labour says the programme would be funded by repurposing the Government's Gas Security of Supply Fund. It proposes having the main support and finance schemes operating within 12 months of taking office.
The emphasis is on helping households that might otherwise struggle to afford solar, while extending the benefits to renters and communities. Read Labour's SolarSaver policy.
Green Party: Interest-free loans and community energy
The Green Party is proposing zero-interest clean-energy loans to help households install solar panels and batteries.
Its wider energy programme includes:
* Interest-free loans for household solar and batteries.
* A right to solar for renters and legalisation of plug-in solar.
* $200 million for community-owned renewable energy projects.
* Solar installations on more than half of public homes within four years.
* $80 million for renewable energy in Māori housing.
* Establishing Kiwipower, a publicly owned electricity company focused on renewable generation and energy security.
The Greens' approach combines household support with greater public and community ownership of renewable energy infrastructure. Read the Green Party's energy policy announcement
The Opportunity Party: Low-interest finance and more renewable generation
The Opportunity Party's Abundant Energy policy proposes a broader programme of electricity-market reform and investment in renewable generation.
Its measures include:
* Low-interest loans for household electrification through a proposed Ratepayer Assistance Scheme.
* Support for community-run energy projects.
* A target of 30GW of total renewable generation capacity by 2050.
* Changes to energy-market regulation and investment to encourage more electricity supply.
The policy supports making household electrification more affordable, although the published overview does not set out a solar-specific subsidy equivalent to Labour's proposed $3,000 payment. Read The Opportunity Party's Abundant Energy policy
What about ACT, New Zealand First and Te Pāti Māori?
The other parties also have positions relevant to household electricity, although their published proposals differ in detail.
ACT has focused its energy policy on investment, increasing supply, affordability and reducing barriers to energy development. I could not confirm a specific household solar-loan or subsidy programme in its published policy material.
New Zealand First has proposed splitting electricity generators and retailers into separate businesses to increase competition. It has also proposed allowing households that generate solar electricity to sell excess power back to the grid at the same price they pay for electricity.
Te Pāti Māori has published an energy sovereignty policy, with a focus on Māori control and participation in energy. The detailed household solar-loan and subsidy arrangements were not sufficiently clear in the sources reviewed to set out a specific financial offer here.
For all three parties, voters should check the latest published policy documents for further details.
Can solar actually reduce your power bill?
For many households, solar can be a worthwhile investment. It allows you to use electricity generated on your own roof instead of buying all your power from a retailer.
However, solar does not automatically mean the cheapest possible electricity bill.
Your savings depend on several factors:
* How much electricity you use during daylight hours. The more solar generation you can use directly, the less electricity you need to buy.
* The size and cost of your system. Installation costs, roof orientation, shading and system size all affect the return.
* Whether you install a battery. A battery can store surplus daytime generation for use in the evening, but it adds to the upfront cost.
* Your electricity plan. The price you pay for imported electricity and the rate you receive for exported solar power both affect your savings.
* Your financing arrangements. Loan interest, fees and repayments need to be included when calculating the overall benefit.
Government-backed loans or subsidies could make solar more accessible, but the proposals outlined above are election policies, not currently available programmes under those proposals. Their final terms would depend on the election outcome and subsequent implementation.
Don't forget to compare your electricity provider
Whether you already have solar, are considering installing it, or simply want to reduce your household costs, it is important to look at the whole electricity deal.
Retailers can differ in their standard electricity rates, daily fixed charges, solar buy-back rates and eligibility requirements. Some plans may offer attractive export rates but charge more for electricity you buy from the grid.
If you have solar, compare both the price of imported electricity and what you receive for exporting surplus generation. If you're considering solar, check how different retailers' plans could affect your expected savings before committing to an installation.
A cheaper electricity plan could reduce your bills immediately, while solar may provide longer-term savings depending on your circumstances.
The bottom line
This election has put household solar and electricity affordability firmly on the agenda. The parties have proposed different combinations of loans, subsidies, planning changes and electricity-market reforms, with varying levels of support for homeowners, renters and communities.
Solar can be a great way to reduce your overall energy costs, but the best result comes from looking at the full picture: installation costs, how and when you use electricity, financing, and the power plan you choose.
Thinking about solar, or do you simply want to pay less for electricity? Compare power plans with Power Compare and check whether you're getting the best deal for your home.
This article summarises party policies published as at 22 October 2026. The proposals are subject to the election result and any subsequent legislation, funding and implementation. Policy descriptions are intended to be factual and non-partisan. Check the relevant party's official website for the latest details.