Money4 December 20213 minute read

Lending in lockdown: Here’s what Aussies financed during lockdown

During Australia's 2021 lockdowns, the borrowing habits of Aussies demonstrated some interesting trends, including increases in borrowing for renewable energy projects, cars and boats.

Smiling father and son playing in lush backyard of modern home with golden retriever

Aussies kept borrowing throughout the lockdowns. Here's what they funded. 

  1. Time at home: One of the most common obstacles for homeowners interested in going green is the perceived complication of the process. With increased time at home, people become more aware of their increased energy usage and the lack of renewable energy is more top-of-mind. This keen awareness likely had an impact on many homeowners who were already considering adding a solar energy system to their home. 
  2. Existing trends. While the demand for solar certainly grew during lockdown, it aligns with the overall uptick of solar. Solar energy is a significant industry in Australia – in fact, 1 in 4 Aussie homes already have solar panels. So the trajectory of solar adoption is a positive and continuing trend.

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Written byAmanda Laviana
Amanda is a copywriter and content strategist, with extensive experience in the software and technology space.