From June 10, 2025, new rules for the purchase have come and later (BNPL) financial services paid all over Australia. including contracts for solar systems, batteries and other house electrification products.
In recent years, BNPL has become a popular opportunity for Australians to buy a wide range of goods and services. According to Statista, 43% of the adults surveyed used in Australia in the six months before July 2024 BNPL.
Consumers who are careful to acquire the electrification equipment for household actors who are often big -ticket objects are attracted not only by goods without money, but also “0% interest rates”.
But someone has to pay the financing costs-and BNPL providers not only earn money through accounts and payment processing, setup and late fees.
With regard to solar collectors and related products, retailers usually pay the BNPL provider 15-25% of the system costs, and the retailer cannot advertise or spend any offers for systems at a higher price with a financing of 0%. The price increases for all systems – although they may be able to negotiate a better offer directly with the retailer for cash.
Unfortunately, BNPL was so popular in the home solar and electrification scene that retailers are forced to offer the option or to lose sales to those who do this.
Another important problem with BNPL is that these services have previously escaped the same regulatory supervision as conventional credit providers, and the providers have fought to keep things that way for obvious reasons. Consumer groups have been demanding stricter regulations and underpassed examples of solar purchases that are clearly not able to do a contract from customers who clearly cannot afford or who are unable to conclude a contract.
At the end of last year there were finally some solid progress in recovery in BNPL providers.
New requirements for BNPL providers
The change in financial laws (responsible purchase now later and other measures) Law 2024 introduced real reforms and was passed on December 10, 2024.
From June 10, 2025, all BNPL providers must:
- Keep a credit license or apply for one.
- Check whether the customer can manage repayments (and not just the first one).
- Specify fees, fees or terms from the start.
- Offer fighting customers difficulties.
- Have clear complaint processes.
- Be members of the Australian Financial Complaints Authority.
However, one of the weaknesses in the new regulations is, however, while the providers have to ask for income and debts from a BNPL customer. However, you are not obliged to check this information
A complete overview of the new rules is available here from the Australian Securities and Investments Commission (ASIC).
What you should look for in a BNPL Solar/Battery offer
Finn Peacock, founder of Solarquotes, says that a quote meets the new rules. Check whether these four elements are clearly displayed:
- How often will they repay (e.g. weekly, fortnightly or monthly).
- How much every repayment is.
- How many repayments are there.
- The sum you will pay at the end.
“If one lacks or is difficult to find, the quote is not up to date,” explains Finn.
More protection, but a new risk
The closer regulation of purchase will later also have a stitch in the tail in terms of credit tests and reporting for some consumers.
“Late payments, the accumulation of debt or the excessive use of BNPL can make lenders consider considering them as a borrower at a higher risk,” says Creditsmart. “This could affect their ability to secure future loans or credit cards.”
So think carefully before registering on the dotted line.
Here you can find out more about the tricks and traps from BNPL solar purchases.
Buy now, pay later “0% interest” interest payment plans are not the only way to obtain solar collectors on your roof or a house battery that is installed without advance payments. Learn here about other solar financing options.
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