First phase of household solar and electrification loans a good start, now must go faster and further - Solar Citizens

First phase of household solar and electrification loans a good start, now must go faster and further

Solar Citizens has welcomed the Clean Energy Finance Corporation (CEFC) announcement of more than $60 million in green loans being available under the $1 billion Household Energy Upgrades Fund (HEUF), starting 5 June.

The loan program will allow community members to access cheaper home energy solutions and affordable finance, including rooftop solar, home batteries, and energy efficiency.

Solar Citizens CEO Heidi Lee Douglas said, “Today’s announcement of green loans provides a welcome Federal Government investment on the long-term cost of living savings from household solar systems and electrification.

“The $60 million program launched today for household energy upgrades is a small start on the $1 billion promised by the Federal Government in last year's budget. We’d like to see the Government lift pace on rolling out the fund’s balance.

“Every day of delay means lost cost savings for households.

“Discounted commercial loans will assist many households with financing new solar and energy upgrades, and what's missing from the package is direct rebates to overcome barriers for a wider range of households. For example, Solar Citizens has been calling for a Federal Government rebate on household batteries that extends the success of the rebates offered for home solar.  

 

“Australia is a success story regarding rooftop solar uptake because of Federal and state government rebates. A Federal Government rebate for household batteries combined with low-interest loans that have been kick-started today will allow more everyday Australians to make investments that reduce their cost of living and provide energy security long term.

“Solar Citizens also calls for supporting programs to address the needs of people and households facing barriers to solar and electrification, including renters, people living in apartments, and low-income households.

“Recent analysis commissioned by Solar Citizens and conducted by the Australian PV Institute at the University of NSW revealed the massive potential for Australian rentals, with 45.8 GW of unrealised potential solar energy on rental properties nationwide and potential energy bill savings of more than $1,400 per rental household.


“Critical to the success of the Household Energy Upgrades Fund are household energy assessments to ensure community members can get advice appropriate to their circumstance and maximise this $1 billion solar and electrification opportunity for energy bill relief,” Ms. Douglas said.