iscover 
The customer-owned bank has also reduced the interest rate on the product, which is designed to support borrowers renovating and electrifying existing homes.
The product offers an interest rate discount to eligible borrowers undertaking upgrades aimed at improving the energy efficiency of their property and moving away from gas.
Bank Australia said its Clean Energy Home Loan products have now financed more than 600 homes across Australia, while its clean energy home loan portfolio grew by 29 per cent last year.
The bank had previously paused applications for the Renovate product following higher-than-expected demand. Its reintroduction comes as lenders report growing appetite for finance linked to energy efficiency and electrification across both households and businesses.
Jane Kern, head of impact management at Bank Australia, said home lending accounted for the majority of the bank’s financed emissions.
“Over 85 per cent of our total emissions in 2025 came from our home loan portfolio, so supporting our customers to buy, build, or renovate energy efficient, all-electric homes plays a big role in meeting our climate action goals, assisting customers in the energy transition and supporting more Australians to decarbonise their homes,” Kern said.
Around 54 per cent of Australian households use mains gas as an energy source, according to figures cited by Bank Australia.
Research referenced by the bank also suggested moving to an all-electric home could save Australian households up to $2,250 a year on energy bills by 2030.
Green finance demand grows
The return of the Clean Energy Home Loan Renovate product follows an increase in demand for other forms of green finance.
Recent data from National Australia Bank (NAB) showed demand for green equipment finance increased by 32 per cent over the six months to June, while uptake in March 2026 was more than double the level recorded a year earlier.
Electric vehicles now account for half of the assets financed through NAB’s green finance program, with the major bank attributing demand partly to businesses seeking to reduce their exposure to fuel price volatility.
NAB and the government-backed Clean Energy Finance Corporation launched two discounted finance programs in March 2025, supported by $300 million in CEFC funding.
During the first year of the partnership, more than $130 million in discounted finance was provided to over 550 Australian businesses.
The funding has supported investment in batteries, renewable energy systems, electric equipment, and agricultural technology across sectors including manufacturing, transport, and agriculture.
Similarly, market share for electric vehicles has tripled over the past year, as overall car sales hit a record high.
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