The New South Wales government will offer eligible households across the state access to zero-interest loans of up to $15,000 to help pay for energy upgrades including rooftop solar, household batteries, electric appliances and insulation.
The new $557 million Home Energy Saver program will provide both loans and discounts on certain energy-saving upgrades.
Zero-interest loans of up to $15,000 are immediately available to households with a combined taxable income of up to $210,000 and can be paid off over 10 years. They can be used for rooftop solar, household batteries, insulation, reverse-cycle air conditioning, switchboard upgrades, ceiling fans, and draught proofing.
For example, eligible households who want to purchase a solar and home battery system for $10,000 can apply for a loan, allowing them to pay the loan off over 10 years, rather than having to pay the full amount up front.
The NSW government expects the loans to benefit more than 32,000 households and is backed by a $480 million commitment.
Additionally, the program also includes targeted discounts of up to $4,000 which will be available later this year for households with a combined annual income of up to $80,000 or to eligible concession card holders.
Discounts will also be available to renters looking to make upgrades, with their landlord’s permission. The discounts are backed by a $77 million government commitment.
Households that are eligible for both a discount and a loan for a single upgrade are advised to apply for the discount first, before seeking a loan to cover the remaining amount.
The program was welcomed by the Justice and Equity Centre, which said it aligns with recommendations that it had made.
‘This announcement comes at a critical time,” said Energy and Water Justice Director Douglas McCloskey. “Many people are struggling with cost of living and there is an increasing urgency to get households off gas. This program provides a practical means of addressing both those things.”
NSW premier Chris Minns says energy bills are putting pressure on families right now.
“While this won’t solve every cost-of-living challenge people are facing, it’s practical help that can make a real difference,” he said in a statement.
“For many households, the upfront cost of these upgrades has simply been too high. We’re stepping in to help where we can, so more families can access technology that lowers their bills and makes their homes more comfortable.”
“For too many households, energy-saving upgrades have felt like something other people can afford,” added Penny Sharpe, state minister for climate change and energy.
“This is about changing that and giving more families a fair opportunity to access the kinds of improvements that make their homes more comfortable, more efficient and better to live in.”
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Joshua S Hill
Joshua S. Hill is a Melbourne-based journalist who has been writing about climate change, clean technology, and electric vehicles for over 15 years. He has been reporting on electric vehicles and clean technologies for Renew Economy and The Driven since 2012. His preferred mode of transport is his feet.
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