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.
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.
What are the 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 include:
- 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.
Over the last three years, local businesses have borrowed around $2 million and installed a total of 1, 038 kilowatts of solar power and a range of energy efficiency upgrades through accessing EUF. These businesses 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 and Hawkes Farm. In total, these projects result in an annual saving of $252, 500 and an annual saving of 1,595 tonnes of CO2 equivalent emissions. Over the life of these projects 39, 825 tonnes of CO2 equivalent emissions will be saved. EUF is a win for businesses and a win for the environment.
To find out more about the benefits of EUF to local businesses, see the below case studies:
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)
To see other case studies, visit the Better Building Finance website.
For more information:
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 email@example.com, or visit the Better Building Finance website.