Environmental Upgrade Finance
Can your business premises benefit from a new solar PV system or an upgrade to lighting or the heating, ventilation, and air conditioning system? If so, then you may want to consider Environmental Upgrade Finance.
What is Environmental Upgrade Finance?
Environmental Upgrade Finance is a long term, low interest loan to upgrade a building where the repayments are administered through your local council.
Environmental Upgrade Finance is a proven way for building owners to fund building upgrades.
How does it work?
The benefits of this form of finance are:
- No upfront capital or security
- Fixed rate, long-term loan terms with low annual repayments
- Option to share costs between owners and tenants
- Repayments are collected through council rates
- Every loan is legislated to deliver a positive environmental outcome
An environmental upgrade to your business premises can:
- improve the conditions for occupants
- reduce utility bills and your business' carbon footprint
- increase the resale or lease value of your property.
How to access Environmental Upgrade Finance
To access Environmental Upgrade Finance, an Environmental Upgrade Agreement (EUA) between the building owner, a lender and the local Council is put in place.
Moreland City Council is working with Better Building Finance to facilitate Environmental Upgrade Agreements (EUAs) with businesses that own or lease commercial, non-residential buildings in the municipality.
EUAs give building owners a way to:
- protect themselves from rising energy prices and reduce operating costs
- replace old and inefficient equipment with newer more efficient technologies
- install rooftop solar PV without using upfront capital
- free up cash flow by locking in competitive long-term rates.
Otto and Spike Case Study
Moreland’s first business to access Environmental Upgrade Finance is local family-run business Otto and Spike to install a 30kW solar system. The 111 panels spell out the business name on their Brunswick East roof.
Interested to learn more?
Visit the Moreland page of the Better Building Finance website to view the relevant documents and make an enquiry.
Find out about other clean energy actions you can take as a business or resident in Merri-bek by visiting the Zero Carbon Merri-bek website.