NILS Network of Tasmania
Tasmanian State Government is subsidising low income Tasmanians to purchase energy efficient appliances through a no interest loan.
The $500 000 a year over four years confirmed by the Government today is already delivering heavily subsidised heat pumps, freezers, washing machines and fridges into Tasmanian homes purchased through our no interest loans. The funding included in today’s State Budget doubles the previous commitment and extends it over four years.
Through this support NILS Tasmania also provide a 50% subsidy on 2.5 star heat pumps and $300 off a 3 star energy rated fridge freezer or washing machine.
This means a heat pump that costs $3000 installed, only require the client to take out a no interest loan with NILS of $1500.
“Already in the seven weeks of this financial year the government support has meant that NILS Tasmania has assisted 104 families to warm their homes with a brand new, half price heat pump. Our clients than pay back the loan at a maximum fortnightly repayment of just $40. No interest and no fees – ever.” commented John Hooper, CEO of NILS Network of Tasmania
“In just seven weeks of this year Tasmanians have accessed over $176 000 in subsidies on their products.
This scheme enables financially vulnerable Tasmanians to save on energy AND get a much needed appliance. They are incredibly grateful for the subsidy scheme and they have told us so through their comments in our recent client surveys:
∙ “My husband had a brain tumour and couldn't get wood in so having the heat pump was peace of mind one less thing to worry about and I didn't miss the payment coming out” ∙ “It made a huge difference as I was able to purchase a new energy and water efficient front loader washing machine instead of a second-hand one which would most likely need to be replaced in a few months”
∙ It made my house warm for my family, I could never have afforded a heat pump without this, you made the winter bearable.
∙ Without this I would never have been able to get my fridge/freezer. I’d been homeless for eight months.
Every dollar of subsidy provided by the State Government saves each family $5 if they’d turned to Rent to Buy companies as the alternative. Rent to buy charge 200% over retail over 3 – 5 years. For example an $800 fridge costs the client $2400 through Rent to Buy, but through a NILS loan and the State Govt subsidy we can provide the same fridge and it costs that family just $500, saving them $1900 in comparison!
We know the $821 452 in subsidies we have distributed in last 18 months have saved Tasmanian low income families around $4 million! If they’d gone to a rent to buy scheme instead of NILS.
The State Government commitment to this scheme of $500,000 a year, coupled with ongoing Aurora energy financial support to the subsidy scheme, means we can keep the subsidy open all year now.
What a great outcome and one the Government can rightly be proud, and with this new investment we can keep the program open to Tasmanians for the next four years, and make real difference to cost of living pressures.
The No Interest Loans Scheme Network of Tasmania Inc. (NILS Tasmania) is a not for profit charitable organisation that provides loans to low income Tasmanians to purchase essential items and services and establish and grow small (micro) businesses. NILS Tasmania was established in 2002 and has issued more than 28,000 loans totalling more than $22 million dollars for household goods and services, as well as over 1,000 micro business loans to a value of $2.6 million.
