Environmental Upgrade Finance
Council now offers Environmental Upgrade Finance to assist Hobsons Bay businesses to save money and improve their environmental performance. The Sustainable Melbourne Fund is working in partnership with Council to deliver this service.
What is Environmental Upgrade Finance (EUF)?
Environmental Upgrade Finance (EUF) is a proven way for building owners to fund building upgrades. When businesses do these kinds of upgrades it creates jobs, improves the living standards of residents and reduces our carbon footprint.
Environmental Upgrade Finance is a loan to upgrade a building where the repayments are administered through the local council.
To access Environmental Upgrade Finance an agreement between the building owners, lenders and local governments is put in place. Each state calls these agreements by a different name. For example Victoria and NSW have Environmental Upgrade Agreements (EUAs) and South Australia has Building Upgrade Agreements (BUAs).
What type of projects are eligible?
Various types of renewable energy (e.g. solar panels) and energy efficiency projects (e.g. lighting upgrades) have been pre-approved. Click here for a complete list of pre-approved projects: Pre-approved building upgrades works
A separate list of building upgrade works is also provided for works that will require approval from an Independent Expert Reference Panel: Projects requiring approval
How does Environmental Upgrade Finance work?
A finance lender provides a loan and the building owner pays it back through Council (like Council rates). Council’s involvement in this process ensures that the loan is highly secure and the lender will provide better terms. The tenant can use a portion of the energy savings to contribute to repayments. There is no upfront capital required.
Eligibility for Environmental Upgrade Finance may require a level 2 energy audit – if so, the energy assessment program may help fund this.
Protect your business from rising energy prices.
Replace old and inefficient equipment with newer more efficient technologies.
Free up cash flow by locking in competitive long-term rates.
How do I apply?
Contact Sustainable Melbourne Fund to enquire about applying for an EUF. They will check your eligibility and assist you throughout the application process.
Phone: 9658 8740
Download documents here:
Application terms and conditions(PDF, 252KB)
Building owner statutory declaration(PDF, 1MB)
EUA application form(PDF, 316KB)
Alternatively, contact the Sustainability team at Hobsons Bay City Council on 9932 1000 or email@example.com