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 conditions in the building for occupants and reduces our carbon footprint.
Environmental Upgrade Finance is a long term, low interest loan to upgrade a building where the repayments are administered through the local council.
To access Environmental Upgrade Finance (EUF), an Environmental Upgrade Agreement (EUA) between building owners, lenders and local governments is put in place.
These Agreements give building owners a way to:
- protect themselves 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.
The Mornington Peninsula Shire is offering Environmental Upgrade Agreements (EUAs) to businesses that own or lease commercial, non-residential buildings on the EUA's have been signed by local businesses. Together these businesses have installed a total of 840 kilowatts of solar power and a range of energy efficiency upgrades through accessing Environmental Upgrade Finance. These businesses are Rye Hotel, One Four Nelson Accommodation, Hussey and Co. salad growers in Somerville, Paringa Estate winery in Red Hill South, Boneo Maze, Sorrento Beach House, Flinders General Store and Crittenden Estate.
To find out more about the work undertaken at Paringa Estate click here
Click here to see a Case Study on the Rye Hotel EUA(PDF, 2MB) .
To see other EUA case studies go to Better Building Finance website
For businesses considering an EUA, refer to the following:
For more information contact Sustainable Melbourne Fund on Ph: 03 9658 8740 or firstname.lastname@example.org, or go to DELWPs EnvironmentalUpgrade Agreements website page.