(Update: Unfortunately, as of 28 Feb 2011 the Federal Green Loans Program has closed. Please see the Department of Climate Change and Energy Efficiency website for further information.)
We’re pleased to pass on more good news … the Federal Government have recently announced that they will support people wanting to ˜green-up’ their homes, by offering interest free loans of up to $10,000 to help you make your household more energy and water efficient.The loans can be applied to a solar energy and/or solar hot water installations. To take advantage of this program, you must have a combined household income of under $250,000.
It is anticipated that these loans will be repaid over the interest free period of four years. However, if the loan remains unpaid after that time, five credit unions participating have agreed to continue the loans at current market interest rates.
To be eligible you’ll simply need to have your home’s energy usage audited by an independent approved assessor “ the Government promises to cover the cost of 360,000 home inspections over the next five years.
So if you’re considering ways to reduce your electricity bill in addition to installaing solar power, this is another cost-friendly avenue for you to explore.
Nicola Cole
Solar Consultant
Solar Choice Pty Ltd
© 2009 Solar Choice Pty Ltd
{ 5 comments… read them below or add one }
Hi, Would like to know how i can apply for a green loan and need to know the process for solar paneles!
Thanks!
Hi Paul,
Thanks for your enquiry. Please see our blog post on the Green Loans program, which spells all of this out for you. (http://www.solarchoice.net.au/blog/the-green-loans-program.html). Good luck.
Regards,
Kobad Bhavnagri
Solar Energy Consultant
Solar Choice Pty Ltd
The interest free loans component of the Green Loans (now Green Start) Program was discontinued some time ago.
The scheme is still going, offering qualified families a free energy and sustainability assessment.
Carolyn Bate
Green Loans Assessor HO51934
Hi , I have had a 1KW system installed for almost a year with a 3.6 Inverter to add panels later, when I could afford it. Can you get a green loan for extra panels. I want to go to 3.6 KW and it would mean a cost of $17,000 installed.
Hi Terry,
Thanks for the comment. Unfortunately, the Federal Green Loans program is defunct as of 28 Feb 2011. Please check out the Department of Climate Change and Energy Efficiency website for additional information.