Interest Free Solar Power System Loans For Tasmanians

Interest-free solar loans Tasmania

A good time to go solar in Tasmania – Image: Tiia Monto , CC BY-SA 4.0, Link

A new State Government scheme in Tasmania is enabling households and small businesses to install solar panels and other energy efficiency related products with the assistance of interest free loans.

Yesterday, the Hodgman Government launched the $10 million Tasmanian Energy Efficiency Loan Scheme (TEELS) in partnership with Aurora Energy and Westpac.

Interest free loans of up to $10,000 are available to buy energy efficient appliances including heat pumps, solar panels and solar hot water systems; plus other items such as:

  • Ceiling and floor insulation
  • Window double glazing
  • Blockout curtains, blinds and pelmets
  • Fridge, freezer or washing machine (must be minimum 3 Star Energy Rated)
  • Lighting upgrades
  • Irrigation pumps for small business
  • Small business building upgrades

A full list of eligible products under the Tasmanian Energy Efficiency Loan Scheme and other FAQ’s can be viewed here.

“This is another practical example of how the Hodgman Government is delivering for Tasmania and follows yesterday’s announcement that we will cap power prices to avoid price shock,” said Mathew Groom, Tasmania’s Energy Minister.

When seeking quotes, bear in mind that in order to be valid for the program, they’ll need to come from a supplier that has been operating in Tasmania since 1 November 2015. That may seem a bit tough on some of the newer, genuine suppliers; but the condition may be in place to discourage solar cowboys that invariably tend to pop up along with such schemes.

It’s also important to note that the interest-free period is 36 months.

If you’re in Tasmania and considering solar panels, check out our beginner’s guide and reviews of solar installers in Hobart and Launceston. You can also get three quotes from trusted Tassie installers by clicking here.

Considering upgrading a hot water system? Visit our sister site for more information on and quotes for solar hot water and heat pumps.

According to Minister Groom, 1,860 Tasmanians have already registered online and the Government is encouraging anyone interested to register with Aurora as soon as possible to avoid missing out. That $10 million may run out pretty quickly.

Apparently another scheme is also in the works to offer small business a higher loan ceiling (from $10,0001 up to $40,000). Under the current scheme a small business is classified as one with electricity consumption of less than 150 MWh per year.

About Michael Bloch

Michael caught the solar power bug after purchasing components to cobble together a small off-grid PV system in 2008. He's been reporting on Australian and international solar energy news ever since.

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