{"id":77389,"date":"2023-07-27T08:58:41","date_gmt":"2023-07-26T23:28:41","guid":{"rendered":"https:\/\/www.solarquotes.com.au\/blog\/?p=77389"},"modified":"2024-10-02T10:23:19","modified_gmt":"2024-10-02T00:53:19","slug":"cheap-green-loans","status":"publish","type":"post","link":"https:\/\/www.solarquotes.com.au\/blog\/cheap-green-loans\/","title":{"rendered":"Cheap Green Loans: CEFC’s $1B Pledge for Home Upgrades"},"content":{"rendered":"

\"wads<\/p>\n

The Clean Energy Finance Corporation (CEFC) is adding support for electrification and household energy upgrades to its existing mandate to support the development of clean energy in Australia.<\/p>\n

The investment mandate announced this week<\/a> makes various changes to the one left by the previous Coalition government, including directions for $20.5 billion worth of spending for various initiatives that include the Household Energy Upgrades Fund (HEUF).<\/p>\n

The $1 billion HEUF provides discounted consumer finance to support investment in energy efficiency, high-performance appliances, and \u201cbattery-ready\u201d solar PV installations<\/a>.<\/p>\n

The funding will be delivered through lenders like banks, similar to existing CEFC asset finance programs.<\/p>\n

Two other programs to get investment through the new mandate are Rewiring the Nation, a $19 billion fund to support transmission to renewable energy zones; and $500 million for the Powering Australia Technology Fund, designed to increase the commercialisation of innovative clean energy opportunities.<\/p>\n

The extra allocation for the CEFC was announced in June 2023<\/a>.<\/p>\n

SolarQuotes CEO Finn Peacock gives a qualified welcome to the household fund:<\/p>\n

\u201cEnergy efficient appliances, electric cars, solar and batteries are generally high upfront cost but low total cost of ownership. The best way to finance these IMO is genuine no-cost loans. Not the ‘zero interest finance’ pedalled by so many companies that, in reality, front load the finance cost with a 25% or so premium added to the cost.\u201d<\/p>\n

 <\/p>\n

\u201cIf the CEFC can cover the finance cost of green loans, so there is no extra cost for the vendor (which always gets passed to the consumer), then green upgrades such as heat pumps<\/a>, insulation, glazing, solar battery systems can often become cash flow positive from day one.\u201d<\/p><\/blockquote>\n

The other important change is to the rate of return for the CEFC\u2019s general portfolio.<\/p>\n

The previous government had set the rate of return for the portfolio at an average return 3-4% above the five-year Australian government bond rate.<\/p>\n

This is now brought down to an average 2-3%, over the medium to long term.<\/p>\n

Other changes include repealing the Sustainable Cities Investment Program, the Reef Funding Program and the Australian Recycling Investment Fund.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Clean Energy Finance Corporation (CEFC) is adding support for electrification and household energy upgrades to its existing mandate to support the development of clean energy in Australia.<\/p>\n","protected":false},"author":23,"featured_media":77495,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[678],"tags":[],"class_list":["post-77389","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-solar-battery-news","entry"],"acf":[],"yoast_head":"\nCheap Green Loans: CEFC's $1B Pledge for Home Upgrades<\/title>\n<meta name=\"description\" content=\"CEFC commits $1B to affordable green loans, transforming Aussie homes. 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The CEFC was originally set up by the Gillard government in 2012 to stimulate capital investment in renewables, low-emissions\u2026","rel":"","context":"In "General Solar & Storage News"","block_context":{"text":"General Solar & Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"Clean Energy Finance Corporation Review","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/01\/cefc-solar-power.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/01\/cefc-solar-power.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/01\/cefc-solar-power.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/01\/cefc-solar-power.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":47626,"url":"https:\/\/www.solarquotes.com.au\/blog\/cefc-ingenia-solar-mb1879\/","url_meta":{"origin":77389,"position":3},"title":"Clean Energy Finance Corporation Invests In Ingenia Communities","author":"Michael Bloch","date":"February 15, 2021","format":false,"excerpt":"Ingenia Communities Group has secured a $75 million debt facility with the Clean Energy Finance Corporation (CEFC) for carbon reduction and energy initiatives. Ingenia Communities is an Australian property group that owns, operates and develops a portfolio of dozens of lifestyle and holiday communities in Queensland, New South Wales, Western\u2026","rel":"","context":"In "General Solar & Storage News"","block_context":{"text":"General Solar & Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"CEFC and Ingenia","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2021\/02\/ingenia-cefc-solar.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2021\/02\/ingenia-cefc-solar.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2021\/02\/ingenia-cefc-solar.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2021\/02\/ingenia-cefc-solar.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2021\/02\/ingenia-cefc-solar.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":51923,"url":"https:\/\/www.solarquotes.com.au\/blog\/cefc-recycling-solar-mb2068\/","url_meta":{"origin":77389,"position":4},"title":"CEFC Invests In Solar Power Assisted Plastic Recycling Facility","author":"Michael Bloch","date":"July 8, 2021","format":false,"excerpt":"https:\/\/www.cefc.com.au\/annual-report-2021\/performance\/australian-recycling-investment-fund\/ A facility under construction in Albury-Wodonga that will recycle the equivalent of an estimated one billion plastic bottles a year has gained support from the Clean Energy Finance Corporation. Construction of the Circular Plastics Australia (CPA) plant at the Nexus Precinct, around 10km north of Albury\/Wodonga\u2019s CBD, commenced in\u2026","rel":"","context":"In "General Solar & Storage News"","block_context":{"text":"General Solar & Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"CEFC recycling investment","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2021\/07\/cefc-recycling-solar.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2021\/07\/cefc-recycling-solar.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2021\/07\/cefc-recycling-solar.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2021\/07\/cefc-recycling-solar.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2021\/07\/cefc-recycling-solar.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":26903,"url":"https:\/\/www.solarquotes.com.au\/blog\/crossbench-renewable-energy-mb0888\/","url_meta":{"origin":77389,"position":5},"title":"How The Crossbench Saved Renewable Energy In Australia","author":"Michael Bloch","date":"January 7, 2019","format":false,"excerpt":"A new report from The Australia Institute (TAI) reveals the crucial role the Senate crossbench has played in securing billions of dollars of investment in Australia's renewable energy industry. \u201cWhen they came to power, the Coalition tried to take an axe to renewable energy investment in Australia,\" said Ben Oquist,\u2026","rel":"","context":"In "General Solar & Storage News"","block_context":{"text":"General Solar & Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"Senate crossbench role in Australia's renewable energy industry","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2019\/01\/crossbench-renewables-australia.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2019\/01\/crossbench-renewables-australia.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2019\/01\/crossbench-renewables-australia.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2019\/01\/crossbench-renewables-australia.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/posts\/77389","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/users\/23"}],"replies":[{"embeddable":true,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/comments?post=77389"}],"version-history":[{"count":6,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/posts\/77389\/revisions"}],"predecessor-version":[{"id":87154,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/posts\/77389\/revisions\/87154"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/media\/77495"}],"wp:attachment":[{"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/media?parent=77389"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/categories?post=77389"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/tags?post=77389"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}