- Zero-interest loans to be made available to Canberrans
- For use to make homes more energy efficient including solar panels and heat pumps
- Can also include electric cars, and car chargers
The Australian Capital Territory has made considerable investments into the sustainability sector, recently trialling a new way to approach e-bikes and scooters, and bringing light rail into the city.
Opening this financial year, ACT will be providing zero-interest loans of between $2,000 to $15,000 to eligible ACT households to help with the upfront costs of investing in energy efficient home upgrades.
The Sustainable Household Scheme means Canberrans can receive interest free loans to spend on solar panels, hot water heat pumps, electric vehicle charging infrastructure and more.
Repaid over ten years, the loans can even be made to Canberrans looking for an electric vehicle.
There are of course credit checks, the scheme allows participants to borrow a cumulative maximum of $15,000 over the life of the Scheme. Once this $15,000 limit is reached, the participant is no longer eligible for a new loan even if the previous loan has been repaid.
Participants can install one product or a bundle of products from the list of eligible items.
If you pay off the loan early, there are no penalties either.
The ACT Government has appointed green financier Brighte to deliver the $150 million scheme.
Brighte’s appointment follows a tender process, the first of its kind, according to Founder and CEO Katherine McConnell.
“This is the first time a program of this nature has been put to a competitive tender process which is important for the continued growth of an innovative and competitive renewable financing sector and delivering value to households.”
Katherine McConnell, Brighte Founder and CEO
The appointment covers the first 12 months of the Scheme’s operations with a government option for a further 12-month extension.
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