Home Loans Energy efficiency loan program has a bright future

Energy efficiency loan program has a bright future

by surfsidefinance
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The Tasmanian Government’s energy efficiency loan program has taken a major step forward with the confirmation of Brighte Capital as a financing partner and program provider.

This is an important step in helping Tasmanians use energy more affordably and sustainably.

The Energy Efficiency Loan Program will provide interest-free loans of $500 to $10,000 over three years to private residential customers, small business customers and landlords of residential rental properties to invest in energy efficient products to help reduce their electricity bills.

Energy efficient products need to be purchased and installed through a network of accredited suppliers. brighte already has a network of accredited suppliers in Tasmania and is currently working with the energy efficiency sector to expand the network to support the program.

Eligible products will include installations such as rooftop solar panels, battery storage, heat pumps, energy efficient appliances, double glazing and insulation.

This is an important part of a series of targeted measures to support electricity bills in Tasmania.

Most eligible Discount Card customers will have already received their $180 Winter Bill Buster payment, or will soon receive their first account after August 1.

This Bill Buster payment consists of a one-time bill credit of $119 for 2022 winter consumption and an ongoing increase of $61 in this year’s annual electric franchise discount (bringing this year’s total annual electric franchise discount to $574). Aurora+ usage has also increased significantly since the elimination of usage fees.

In addition, the government continues to invest $4.5 million annually in upgrading our social housing stock to improve energy efficiency, including double glazing, insulation, ventilation upgrades, cladding, heating, hot water systems, energy efficient lighting, floor coverings and roof upgrades.

Brighte Founder and CEO Katherine McConnell said Brighte is pleased to support the Tasmanian Government in achieving its progressive policy goals and to be involved in helping Tasmanians access the benefits of affordable finance to make their homes and businesses more energy efficient.

The Energy Efficiency Loan Program further builds on the government’s 2023 election commitment to expand Tasmania’s energy efficiency loan program.

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