CBA wants to corner the $2trn market for household electrification
There is potentially billions of dollars of loans to be made to customers electrifying their homes by switching from coal-fired power and gas appliances to solar and battery power.
As a world leader in the use of behavioural science to “nudge” customers to overcome emotions and make rational financial decisions, it is not surprising that Commonwealth Bank is switching the focus of its behavioural economics team to climate change.
The savings on the average electricity bill from installing rooftop solar, batteries and heat pumps are now so attractive that it is economically irrational not to go for it, especially when financed with discounted lending rates.
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Tony Boyd is the former Chanticleer columnist. He has more than 35 years' experience as a finance journalist. Connect with Tony on Twitter. Email Tony at tony.boyd@afr.com
