Thinking about installing a heat pump, but not sure how to pay for it?
Some New Zealand banks offer green home loan top-ups that may help cover the cost of energy-efficient upgrades, including heat pumps. These are usually available to existing home loan customers and are designed to help make warmer, more efficient homes more affordable.
If you are looking at using a green home loan for a heat pump, the best place to start is with a clear idea of what you need and what it is likely to cost.
That is where Element Air can help.
Start with a heat pump quote
Before you speak to your bank, it helps to have the heat pump details in front of you.
Our heat pump calculator is designed to give you a practical starting point. You can enter details about your room, installation, and property, and we can provide an indicative quote based on what you are looking for.
From there, we can arrange a free onsite visit to confirm the right system, installation requirements, and final pricing.
This gives you clearer information to take back to your bank if you want to apply for a green home loan or home loan top-up.
Use the Element Air heat pump calculator
How the process usually works
Every bank has its own rules, but the process generally looks something like this:
- Use the Element Air calculator to get an indicative heat pump quote.
- Book a free onsite visit so we can confirm the best system and final installation details.
- Speak to your bank about whether their green home loan or top-up option can be used for your heat pump.
- Provide the quote or supporting information your bank asks for.
- If approved, your bank will confirm the lending details with you.
- Once everything is approved, Element Air can book and complete the installation.
In simple terms: we help you work out what heat pump you need and what it will cost. Your bank confirms whether the finance is available and suitable for you.
What your bank may ask for
Your bank may ask for information about the product, installer, quote, or invoice before approving a green home loan or top-up.
We cannot confirm exactly what each bank will require, as lending criteria can change. However, Element Air can provide the heat pump quote and installation details needed from our side of the process.
If you are unsure what your bank needs, we recommend checking with them first, then sending through anything they ask us to provide.
Major NZ bank green home loan options
Here are links to green home loan or energy-efficient home lending options from major New Zealand banks:
- ANZ – Good Energy Home Loan
- ASB – Better Homes Top Up
- Westpac – Greater Choices Home Loan
- BNZ – Better Future Home Loan Top-Up
- Kiwibank – Sustainable Energy Loan
Each bank has different eligibility criteria, rates, repayment terms, and product requirements, so it is worth checking directly with your bank before making a decision.
How much does a heat pump install cost?
If you are thinking about using a green home loan to install a heat pump, the first step is getting a clear idea of the system you need and what it is likely to cost. Element Air installs Mitsubishi Electric heat pumps across Taupō, Tūrangi and the wider Central North Island. We can help you choose the right option for your home, confirm the installation requirements, and provide the quote details you may need when speaking with your bank.
Start with our heat pump calculator below. It only takes a few minutes and gives us the key information we need to guide you in the right direction.
Get started with the heat pump calculator
This article is general information only and is not financial advice. Green home loan products, eligibility criteria, interest rates, repayment terms, and website links can change. Always check directly with your bank before applying for lending or committing to a purchase.