Businesses in the Snowy Monaro now have a new way to undertake sustainable building upgrades that save money and reduce emissions.
Council is announcing the introduction of Environmental Upgrade Finance (EUF) to the Snowy Monaro, allowing businesses and individuals to access financing for sustainability upgrades on their commercial properties.
A type of green loan with unique terms, property owners are billed for their EUF through a long-term quarterly charge paid alongside their rates notice.
EUF is available now to commercial properties in our region, thanks to Council's partnership with Building Better Finance and their sister organisation the Sustainable Australia Fund.
By securing these loans against the property, local landholders may be able to access more favourable finance options and longer loan terms than might otherwise be available to them.
This environmental upgrade finance program can assist in implementing any combination of the following within non-residential properties:
- Solar installation with potential battery connection
- Electric vehicle charging stations
- Lighting or HVAC upgrade
- Machinery or plant retrofit
- Water or waste efficiency upgrade
- Insulation or cladding improvements
- Broader sustainability upgrades
- Anything that delivers a measurable sustainability improvement over time
Over 140 successful projects across Australia have used EUF to finance sustainability upgrades across a wide array of business types. Thanks to reductions in utility charges and other expenses, most projects are cashflow positive from the first year.
Regular reports on the economic and environmental benefits achieved allow Council to measure the success of the initiative, which was endorsed by councillors in 2022.
Snowy Monaro Regional Council joins local governments across NSW participating in this program, including Lake Macquarie City Council, Orange City Council, Waverley Council, Lane Cove Municipal Council and Mid-Western Regional Council.
