How does Energy Upgrade Finance work?
Approved financiers lend money for the works via participating Victorian and NSW Councils, who levy an Environmental Upgrade Charge on the building.
Repayments are collected through the rates system. This process provides the lender with greater security, unlocking fixed-interest, long term loans at competitive rates. Building owners can ask tenants to contribute towards the cost of the upgrade as they will benefit from lower operational costs. This enables building owners to increase the value of their property with minimal financial outlay. Environmental Upgrade Agreements can also be initiated by tenants.