AGL partners with fintech Plenti

AGL has partnered with fintech Plenti to offer customers an easier way to purchase renewable energy products.

The Plenti technology platform offers customers personal loans to invest in renewable and sustainable home energy solutions.

AGL will use Plenti to offer customers the option of an interest free payment plan for renewable products like residential solar batteries and solar battery bundles.

The company characterised the arrangement as a kind of 'buy now pay later' finance solution in social media posts.

"We expect strong customer uptake of the finance offer to help manage the purchase of a solar batteries and battery bundles," an AGL spokesperson told iTnews.

"AGL customers often select a finance option when installing renewables, and according to research by Plenti, applications for finance on solar batteries have increased by 80 percent in the last six months."

The offer will be available for the AGL’s solar battery bundles and solar battery products from February 2022.

More AGL customers are expected to access renewable products for their homes under the agreement.  

AGL chief customer officer Christine Corbett said the offer will provide “customers with more options as in the long run many consumers who invest in renewable products return savings through reduced household energy bills”.

“We want to put power into the hands of our customers and provide more flexibility, affordability and choice when it comes to their energy solutions,” Corbett said.

Corbett added the initial plan will offer “finance of up to $30,000 and flexible repayment terms” across the brand's residential solar batteries and solar battery bundles.

“By enabling customers to purchase these renewable products, they’re then able to take part in our virtual power plant (VPP), a network of connected solar batteries where energy is stored to support the electricity system," Corbett said.

“Customers that join and contribute to our VPP may be eligible for a sign-on bonus or ongoing bill credits for allowing AGL to access power stored by their batteries, usually during times of peak electricity demand."