The Tasmanian Government said it recognises that cost-of-living challenges affect many Tasmanians, and the Energy Saver Loan Scheme is a realistic approach to assist households and small companies in transitioning to better energy efficiency.
In a statement, the State Government said the upfront energy cost is one of the most significant barriers to Tasmanians investing in energy efficiency measures. The Government added that the Scheme is intended to help overcome that barrier and make energy more cheap and sustainable.
The Energy Saver Loan Scheme would provide no-interest loans ranging from $500 to $10,000 to qualifying homes, residential landlords, small enterprises, and community organisations over a three-year period to fund investments in energy-efficient items.
Eligible participants will be able to invest in a variety of products through the Scheme, including rooftop solar and battery storage systems; electric heating/cooling, hot water heat pumps, solar hot water heating, efficient electrical appliances; and building upgrades, such as window double glazing and insulation.
The Tasmanian Government also announced that Brighte Capital would deliver the Energy Saver Loan Scheme.
Energy-efficient products will be available from a variety of vendors accredited by Brighte, which already has an established network of accredited vendors throughout Tasmania and has been working with the Tasmanian energy efficiency sector in recent weeks to expand its network to support the Scheme.
According to the State Government, the Scheme is an excellent opportunity for Tasmanians who have been considering energy efficiency investments to act now. Brighte and its vendor network are ready to assist Tasmanians now that the Scheme is open.
The launch of the Energy Saver Loan Scheme comes after the independent Tasmanian Economic Regulator announced last week that its Comparison of Electricity and Gas Prices Available to Small Customers in Australia proved that Tasmania has the lowest, or among the lowest, regulated electricity costs in Australia.
