Environmental Upgrade Finance (EUF)
Environmental Upgrade Finance (EUF) is a long term, low interest loan for businesses to upgrade the energy, water or waste efficiency of their building. Finance can also be used to make businesses more resilient to the impacts of climate change. EUF is a great way access funds to both improve the sustainability of your business and increase cash flow.
Since 2017, local businesses on the Peninsula have borrowed over $2 million and installed a total of 1,183 kilowatts of solar power and a range of energy efficiency upgrades through accessing EUF. In total, these projects will result in annual business saving of $279, 888 and an annual reduction of 1,695 tonnes of CO2 equivalent emissions. Over the life of these projects these businesses will save a combined $6,846,436 and reduce CO2 equivalent emissions by 42,387 tonnes. EUF is a win for business and a win for the environment.
The finance can be used for a wide range of upgrades including:
- Solar panels (rooftop or free standing)
- LED lighting and motion sensors
- Heating, cooling and ventilation
- Water and building efficiency upgrades
- Waste management
- Other energy, water or waste efficiency upgrades
- Bushfire resilience measures such as installing metal gutters, repairing or upgrading roofs, installing mesh guard on windows and doors, installing a sprinkler system, hoses or emergency water supply for fire fighting.
- Drought and water efficiency adaptation measures such as projects to prevent nutrient runoff from agricultural land, irrigation, nutrient and waste management.
Features of EUF:
- Up to 100% project finance
- Terms of up to 20 years
- Fixed quarterly payments
- Loan fully transferrable upon sale of building
- No additional personal security required
- Repayments can be shared with tenants
Benefits of EUF:
- Reduced business operating costs
- Positive cash flow early on
- Security from volatile energy markets
- Environmental leadership
- Media and promotional opportunities
- Improved building comfort
To be eligible for EUF, businesses must own or lease a commercial, primarily non-residential building and pay rates to the Shire. The upgrade must have a measurable environmental benefit. This includes agricultural, commercial office buildings, tourism and industrial properties.
Local Case Studies and return on investment
See the Case Studies below to find out how local businesses have benefitted from EUF and the Return on Investment expected from these energy upgrades.
David Gibbs, owner of Flinders General Store, installed a 78 kW solar array using EUF
Holly Klintworth, owner of Bass and Flinders Distillery, installed a 39kW solar array using EUF
Hussey and Co., salad growers in Somerville, installed a total of 604 kW of solar using EUF
Video: Paringa Estate Case Study
Download: Rye Hotel Case Study(PDF, 1MB)
Download: Hussey and Co. Salad Growers Case Study(PDF, 1MB)
Download: Flinders General Store Case Study(PDF, 1MB)
Read: Bass and Flinders Distillery Case Study
To see other case studies, visit Sustainable Australia Fund and Better Building Finance.
Local businesses using EUF
Local businesses who have undertaken upgrades using EUF are: Rye Hotel, One Four Nelson Accommodation, Hussey and Co. Salad growers in Somerville, Paringa Estate Winery, Boneo Maze, Sorrento Beach House, Flinders General Store, Crittenden Estate, Woodman Estate, Hawkes Farm, Binbarra Farm, Bass and Flinders Distillery and T&J Jones Investments.
Download: EUF Fact Sheet(PDF, 352KB)
Download: EUF Information Sheet(PDF, 1MB)
To find out more, contact the Sustainable Australia Fund on Ph: 1300 432 044 or firstname.lastname@example.org, or visit the Better Building Finance website.