Green Home Loans NZ: How to Finance a Heat Pump or Hot Water Heat Pump in 2026

Upgrade Your Home’s Comfort and Efficiency with a Green Home Loan

Upgrading your home’s heating or hot water system is one of the most effective ways to improve comfort, reduce energy consumption and lower running costs. However, the upfront investment can sometimes delay homeowners from making the switch to more energy-efficient technology.

Fortunately, many of New Zealand’s major banks offer green home loans specifically designed to help homeowners finance energy-efficient upgrades. Whether you’re installing a heat pump, upgrading to a hot water heat pump or undertaking other sustainability-focused improvements, green lending can help spread the cost while delivering long-term savings.

In this guide, we’ll explore the green lending options available from New Zealand banks and show how Rinnai’s range of heat pumps and hot water heat pumps can help create a warmer, healthier and more energy-efficient home.

What is a Green Home Loan?

A green home loan is a lending product offered by many New Zealand banks to encourage homeowners to invest in energy-efficient home improvements.

These loans can often be used for:

Heat pumps
Hot water heat pumps
Solar power systems
Home insulation
Ventilation systems
Double glazing
Other approved energy-saving upgrades

The goal is to help homeowners improve comfort, reduce energy usage and lower carbon emissions while making sustainable home improvements more affordable.

Green Home Loan Options from Major NZ Banks

ANZ Good Energy Home Loan

ANZ’s Good Energy Home Loan provides eligible homeowners with funding for approved energy-efficient home improvements, including heat pumps and hot water heating systems. The loan is available as a top-up to an existing ANZ home loan.

Learn more about ANZ Good Energy Home Loan

BNZ Green Home Loan

BNZ offers green lending options to support approved energy-efficient upgrades, including heat pumps, hot water heat pumps and solar energy systems.

Learn more about BNZ Green Home Loan

ASB Better Homes Top-Up

ASB’s Better Homes Top-Up allows qualifying homeowners to finance approved sustainability upgrades designed to improve home energy efficiency and reduce running costs.

Learn more about ASB Better Homes Top-Up Loan

Westpac Warm Up Loan

Westpac’s Warm Up Loan supports homeowners looking to invest in energy-efficient home improvements, including heat pumps and hot water heat pumps.

Learn more about Westpac Warm Up Loan

Check Current Rates and Eligibility

Green home loan products, eligibility criteria and interest rates can change over time. Homeowners should always check directly with their bank for the latest lending criteria, loan limits and applicable interest rates before making a purchasing decision.

Why Choose Rinnai for Your Energy-Efficient Home Upgrade?

When selecting a new heating or hot water system, choosing the right product is just as important as securing the right finance option. With decades of experience designing products specifically for New Zealand conditions, Rinnai offers a comprehensive range of energy-efficient heating and hot water solutions that help homeowners reduce energy consumption without compromising comfort. Whether you’re heating a single room, conditioning an entire home or upgrading your hot water system, Rinnai offers solutions designed to meet the needs of Kiwi households.

Energy-Efficient Heat Pump Solutions

From high wall heat pumps to whole-home ducted systems, Rinnai offers a range of energy-efficient heating and cooling solutions designed to deliver year-round comfort.

Rinnai Pro Series 2 High Wall Heat Pump Range

Designed specifically for New Zealand conditions, the Rinnai Pro Series 2 High Wall Heat Pump range delivers efficient year-round heating and cooling for homes of all sizes.

Available in a range of capacities suitable for bedrooms through to large open-plan living spaces, the Pro Series 2 incorporates advanced technology to maximise comfort and efficiency.

Key features include:

Built-in Wi-Fi connectivity
Voice control compatibility
Self-cleaning technology
Advanced air filtration
Sleep mode functionality
Programmable timers
Energy-efficient inverter technology

The result is reliable comfort, improved air quality and lower energy consumption.

Rinnai Pro Series 2 Ducted Heat Pump Systems

For homeowners seeking discreet whole-home heating and cooling, the Rinnai Pro Series Ducted Heat Pump range provides an ideal solution.

Available in capacities from 7kW through to 18kW, these systems are engineered specifically for New Zealand conditions and provide consistent temperatures throughout the home.

Key benefits include:

Pro-Pel Coil Protection
Wi-Fi control capability
Zoning compatibility
Self-cleaning technology
Quiet operation
Durable outdoor units suited to coastal environments

By distributing conditioned air throughout the home, ducted systems provide exceptional comfort and energy efficiency year-round.

Rinnai Multi-Split Heat Pump System

Rinnai Multi-Split Systems allow multiple indoor units to connect to a single outdoor unit, offering outstanding flexibility for larger homes.

With wall-mounted, slim ducted and compact cassette indoor unit options available, homeowners can customise comfort levels throughout different rooms while maintaining energy efficiency and installation flexibility.

Energy-Efficient Hot Water Heat Pump Solutions

Water heating is one of the largest energy consumers in many homes. Upgrading to a hot water heat pump can significantly reduce electricity usage while maintaining reliable hot water supply.

Rinnai HydraHeat® Integrated Hot Water Heat Pump Range

The Rinnai HydraHeat® Integrated Hot Water Heat Pump combines advanced heat pump technology with an integrated storage cylinder to create a complete hot water solution.

Available in 275L and 340L capacities, HydraHeat® Integrated can reduce water heating energy consumption by up to 75% compared with conventional electric hot water systems.*

Key features include:

High-efficiency heat pump technology
Up to 75% energy savings*
Environmentally friendly R290 refrigerant
Smart operating modes
Designed and built for New Zealand conditions
Available in 275L and 340L models

With a COP of up to 4.7, HydraHeat® Integrated delivers exceptional efficiency and long-term savings.

*When a comparison calculation is made to a 250L standard electric hot water cylinder when heating water from 19°C to 55 °C.

Rinnai HydraHeat® Split Hot Water Heat Pump

The Rinnai HydraHeat® Split Hot Water Heat Pump combines a high-efficiency outdoor heat pump unit with a separate indoor storage cylinder.

This flexible configuration makes it ideal for both retrofit and new-build applications where installation flexibility is important.

Benefits include:

Flexible installation options
Reduced energy consumption
Quiet operation
Advanced control functionality
Environmentally friendly refrigerant technology
Designed for New Zealand homes

HydraHeat® Split allows homeowners to enjoy the benefits of heat pump water heating while accommodating a wider range of installation scenarios.

Rinnai Enviroflo™ GR-Series Hot Water Heat Pump

The Rinnai Enviroflo™ GR-Series Hot Water Heat Pump provides an affordable entry point into heat pump water heating technology.

By extracting heat from the surrounding air, the system delivers efficient water heating while using significantly less electricity than conventional electric cylinders.

Benefits include:

Lower running costs
Energy-efficient operation
Intelligent controller technology
Reliable hot water performance
Sustainable water heating

For homeowners seeking an energy-efficient upgrade without compromising hot water availability, the Enviroflo™ GR-Series is an excellent option.

Smart Technology for Greater Efficiency

Modern Rinnai heat pumps and hot water heat pumps incorporate advanced technologies that help maximise performance while improving convenience.

Depending on the model selected, features may include:

Wi-Fi connectivity
Voice control compatibility
Self-cleaning functions
Sleep modes
Advanced filtration systems
Demand control functionality
Eco-operation modes
Frost protection
Low Global Warming Potential refrigerants

These technologies help optimise energy use while ensuring reliable comfort and hot water availability.

Built for New Zealand Conditions

New Zealand’s climate presents unique challenges, particularly in coastal regions where salt-laden air can accelerate corrosion and reduce equipment lifespan.

Rinnai products are designed specifically for local conditions and incorporate features such as:

Pro-Pel Coil Protection
Corrosion-resistant materials
Durable outdoor unit construction
Advanced weather protection technologies

The result is reliable long-term performance and durability, even in demanding environments.

Upgrade Your Home with Confidence

Investing in an energy-efficient heat pump or hot water heat pump is one of the most effective ways to improve home comfort while reducing energy consumption. When combined with a green home loan, these upgrades become even more accessible, helping spread the cost while delivering long-term savings on household energy bills. Whether you’re looking for a single-room heat pump, a whole-home ducted system or an energy-efficient hot water heat pump, Rinnai offers a solution designed to suit every Kiwi home.

Frequently Asked Questions

Which banks offer green home loans in New Zealand?

ANZ, BNZ, ASB and Westpac all offer lending options designed to support energy-efficient home improvements, including heat pumps and hot water heat pumps.

What can a green home loan be used for?

Green home loans can typically be used for approved energy-efficient home improvements such as heat pumps, hot water heat pumps, insulation, ventilation systems, double glazing and solar energy systems.

Are heat pumps eligible for green home loans?

In many cases, yes. Heat pumps and hot water heat pumps are commonly included in eligible upgrade categories, although lending criteria vary between banks.

Can I finance a hot water heat pump with a green home loan?

Most major New Zealand banks include hot water heat pumps as eligible energy-efficient upgrades under their green lending programmes. Eligibility requirements vary between lenders, so homeowners should confirm with their bank before applying.

How much can I save with a hot water heat pump?

Depending on the system selected, household hot water usage and local climate conditions, a hot water heat pump can reduce water heating energy consumption by up to 75% compared with a conventional electric hot water cylinder.

What are the benefits of upgrading to a hot water heat pump?

Hot water heat pumps provide lower running costs, reduced electricity consumption, lower environmental impact and improved energy efficiency compared with traditional electric water heating systems.

*Compared with a standard electric hot water cylinder. Actual savings will vary depending on household usage, climate, hot water demand and installation conditions.