Businesses in Stonnington can access low interest, long term loans to fund improvements to the environmental performance of buildings through energy, water and waste upgrades.
The City of Stonnington joins over 40 Victorian councils in the program, which has delivered approximately $35m in loans, substantially reduced carbon emissions across Victoria and achieved over $100m in savings for local businesses. Popular projects funded include rooftop solar systems, energy efficiency upgrades and heating, ventilation and air-conditioning systems.
The benefits for businesses include:
- zero upfront capital, no additional security requirements with repayments collected through Council rates
- competitive interest rates fixed for up to 10 years or more, with reduced re-financing risk
- improved cash flow, with lower annual repayments offset by energy cost savings
- option to share costs between owners and tenants, delivering a better asset for the owner, and a lower-cost and improved working environment for tenants.
To be eligible businesses must be:
- in a building on rateable land within the City of Stonnington
- primarily in a non-residential property
- proposing an upgrade with a measurable environmental impact.