More Australian households will soon have access to a broader range of discounted loans for home energy saving upgrades, the Australian Government has announced.
The government is looking to provide $75 million through the Clean Energy Finance Corporation (CEFC) to support ING Australia’s $150 million Green Energy Upgrade Loan. This is part of the third investment under the $1 billion Household Energy Upgrades Fund (HEUF).
The Green Energy Upgrade Loan will be available at a fixed interest rate of 3.74 per cent to eligible customers and can be used to install:
– battery-ready solar rooftop systems;
– hot water heat pumps; or
– other appliances to improve home energy performance and reduce energy bills.
The loan will launch in December 2024 in Victoria, NSW and the ACT and will be available nationally in early 2025.
The proposed $75 million investment will add to the $220 million already committed from the HEUF to lenders Plenti and Westpac to support cheaper finance for home energy upgrades.
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