ASB has partnered with global carbon management fintech Cogo to launch a new online calculator which enables Kiwis to measure, understand and optimise the efficiency of their home and vehicle, helping to lower costs, while making their homes more sustainable.
When homeowners are ready to upgrade, they can use the Better Energy Calculator to view and compare options and energy savings that are specific to their property. By choosing to switch heating, appliances or their vehicle to electric, ASB customers stand to benefit from installation discounts and could borrow up to $80,000 at 1% for up to three years through the ‘Better Homes Top Up’ for eligible upgrades.
ASB Lend and Protect Tribe Lead, David Jackson says: “The Cogo team are experts in their field at building technology that has great economic and environmental value. We’re thrilled to be leading the way by providing this online tool to our customers and to all Kiwi.
“Based on research conducted by Rewiring Aotearoa,[1] consumers could save up to $3,000 per year in energy costs with changes such as switching to an EV when it’s time for a new car and replacing old gas appliances with electricity. It means that customers looking to upgrade, are able to make an informed decision on cost-effective long-term choices that are also sustainable.”
ASB is the first bank in New Zealand to offer Cogo’s Home and Vehicle Electrification solution. It’s part of an ‘electrification ecosystem’ on ASB’s website, which offers personalised suggestions on changes energy users could make, and the upfront costs and potential savings of these changes.
For example, the Better Energy Calculator shows that for a four-person dwelling in the Auckland suburb of Birkenhead, a homeowner could save $1,400 per year by switching their heating, hot water and cook tops to electric, with upfront costs from $15,500. Adding solar to the home increases potential savings by an additional $1,600 per year, based on upfront costs from $11,000. In fact, if they go electric with their next vehicle (costing $49,990), this homeowner could save another $1,200 per year on car running costs. [2]
With a click of a mouse, people can connect directly with Cogo’s trusted installers offering exclusive discounts, and with the ASB team, who can support with financing of upfront costs. The Better Energy Calculator even removes the hard work of research by suggesting EVs most similar to the user’s existing vehicle.
Cogo founder and CEO, Ben Gleisner says: “We share a strong alignment with ASB in our mission to encourage people to take personal action on climate change, and electrifying their homes and cars is a great way to start. Success for us would be thousands of Kiwi making changes that save them money and reduce their carbon footprint.”
The Better Energy Calculator is available now, to anyone, on the ASB website: Get better energy with ASB (ref. https://www.asb.co.nz/home-loans-mortgages/better-energy.html )
[1] Rewiring Aotearoa, Electric Homes Report (ref. https://www.rewiring.nz/electric-homes-report )
2 Upfront costs represent the initial outlay for the product only and do not include finance or interest rates which vary.
