Up to $10,000 is available from the Tasmanian Energy Efficiency Loan Scheme to help SMEs in purchasing energy efficient products.
Tasmanian Energy Efficiency Loan Scheme
The Tasmanian Energy Efficiency Loan Scheme provides zero interest loans for Tasmanian small businesses to purchase energy efficient products. Energy efficient products includes but is not limited to:
- solar panels
- double / triple glazing
- energy efficient fridges, freezers, or washing machines
- small business building upgrades.
Background
The Tasmanian Energy Efficiency Loan Scheme (TEELS) is a joint initiative of the Tasmanian State Government, Westpac Banking Corporation (ACN 007 457 141 Australian credit licence 233714) (Westpac Banking Corporation) and Aurora Energy Pty Ltd (ACN 082 464 622)’s (Aurora Energy) to assist with the purchase of energy efficient products (TEELS).
Funding
As part of this scheme, Westpac is pleased to offer Tasmanian residents and small businesses the opportunity to apply for a Westpac Credit Card with 0% p.a. purchase interest for 36 months attributable only on eligible energy efficient products up to a value of $10,000. The minimum finance value is $500, with the maximum value set at $10,000.
Eligible Applicants
To be eligible you must:
- be a Tasmanian small business owner consuming less than 150MWh per annum
- intend to purchase an energy efficient product for a Tasmanian premise
- intend to purchase an energy efficient product from a Tasmanian retailer
- provide a valid quote for the proposed purchase.
The loan must be used to purchase an eligible product.
Eligible Products
Unless indicated otherwise, items available to purchase may be selected for residential or small business purposes.
- Heat pump (Reverse cycle air conditioner) – Min 2.5 Star Energy Rated
- Solar panels
- Solar power battery storage
- Efficient wood heater
- Hot water system – gas, air source heat pump or solar
- Condensation control system
- Ceiling and floor insulation
- Ceiling and floor insulation
- Double / triple glazing
- Block out curtains, blinds and pelmets
- Honeycomb blinds
- Draught sealing and reglazing windows
- Fridge, freezer or washing machine – Min 3 Star Energy Rated
- Lighting upgrades – residential or small business
- Irrigation pumps – small business
- Building upgrades – small business
- Industrial refrigeration
Please note products can only be purchased from a supplier that has been operating in Tasmania since 1 November 2016. It will be the applicant’s responsibility to source quotes and arrange for the delivery/installation of the product(s) directly with the supplier.
Timing
Due to its overwhelming popularity, the TEELS for households and small businesses has been extended and will now run until 30 April 2019, or until the additional $20 million finance pool is exhausted.
More Information
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