Overview

The Victorian Environmental Upgrade Finance offers a free finance facilitation service to all businesses, property owners, tenants, councils and community groups seeking to invest in energy efficiency upgrades, renewable energy, water and waste efficiency improvements. The program provides households with access to discounted energy and water-efficient products and services through accredited service providers. It includes, hot water systems, Electric boosted solar water heaters, heat pump water heaters, gas boosted solar water heaters and efficient gas boosted water heaters.

Entities can be assisted with Environmental Upgrade Finance (EUF), which is a commercial finance product that enables a financier to lend money to a building owner to purchase energy efficiency and renewable energy equipment. The financier secures the loan through the council’s charge on the land and repayment are made through your council rates. EUF supports projects that result in an environmental saving and can be passed on to tenants via council rates.

Benefits

Financial:

• No upfront capital and no additional security requirements
• competitive interest rates fixed for up to 10 years or more, with reduced re-financing risk
• improved cash flow, with lower annual repayments offset by energy cost savings
• option to share costs, delivering a better asset for the owner
• lower costs

Environmental:

• savings in energy, water and waste costs
• reductions in energy, water and waste use
• reduced greenhouse gas emissions
• an improved working environment for the tenant