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BOOM! Power and ING unlock home electrification for millions of Australians

13 November 2024

Visual of ING Green Upgrade Loan and Home Energy Helper
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BOOM! Power has teamed up with Australia’s most recommended bank, ING to deliver a one-stop-shop for home electrification.

The Home Energy Helper will make getting solar, heat pump hot water and other energy-efficient upgrades simpler and more accessible for ING’s 2 million plus customers.

This groundbreaking collaboration combines BOOM! Power’s leading electrification platform with ING’s highly competitive Green Upgrade Loan at 3.74% p.a. (5.16% p.a. comparison rate)* for eligible customers.

“We are proud to partner with ING Australia, one of Australia’s most trusted, recognised and forward-thinking financial institutions."

Alex Houston BOOM! Power

 

“We are proud to partner with ING Australia, one of Australia’s most trusted, recognised and forward-thinking financial institutions,” Alex Houston, CEO and Co-founder of BOOM! Power says.

“Through Home Energy Helper, we’re streamlining the electrification process for homeowners and reducing the up front costs involved. Homeowners can make upgrades to their home that will reduce their cost of living and greenhouse gas emissions.”

The platform enables customers to access pre-qualified suppliers, source quotes, see what rebates they may qualify for and assess the potential financial and emissions savings of particular upgrades. Combined with access ING’s Green Energy Upgrade Loan, the Home Energy Helper is trying to remove barriers for customers to make their homes more comfortable, affordable to run and energy efficient. 

“Household emissions are one of the biggest contributors to Australia’s carbon footprint, which is why ING, together with BOOM! Power, are helping customers to make improvements to their home to try to reduce their household emissions."

George Thompson ING

“Household emissions are one of the biggest contributors to Australia’s carbon footprint, which is why ING, together with BOOM! Power, are helping customers to make improvements to their home to try to reduce their household emissions,” ING Australia’s Head of Home Loans, George Thompson says. 

“We know that Australians find renovating their home for energy efficiency complex, costly and time consuming. The Home Energy Helper and Green Upgrade Loan aims to remove the complexities and barriers that are stopping people from making their homes more energy efficient.”

This partnership sets a new standard for how financial institutions can drive the shift to sustainable energy solutions and confirms BOOM! Power as a leader in home electrification. It demonstrates the crucial role banks can play in accelerating the transition to renewable energy at scale.

“Tackling the massive inefficiency of 30% of Australian households over the next five years will make a significant contribution toward Australia meeting its 2030 carbon reduction goals,” Alex says.

The Home Energy Helper will launch from December in Victoria, NSW and the ACT and will roll out nationally in early 2025.

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*For example, on a loan balance of $500,000 on a comparable home loan, this can reduce monthly repayments by $254 for five years with potential savings of $24,500 in interest payments over a 30-year loan term. Based on published variable interest rates effective 30 October 2024, potential interest savings is calculated as a comparison of Clean Energy Home Loan Renovate and Bank Australia Offset Home Loan with a <80% loan-to-value ratio on a $500,000 owner occupied loan with a 30-year term.

¹ Climateworks Centre, Renovation Pathways: Defining zero carbon homes for a climate resilient future, 2023.

Electrify with ActewAGL powered by the BOOM! Power Platform
Graphic of the BOOM! Power Electrify Your Home tool delivering simplified home electrification to Bank Australia customers
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