{"id":88068,"date":"2024-11-14T04:44:11","date_gmt":"2024-11-13T19:14:11","guid":{"rendered":"https:\/\/www.solarquotes.com.au\/blog\/?p=88068"},"modified":"2024-11-14T04:44:11","modified_gmt":"2024-11-13T19:14:11","slug":"cefc-ing-green-loans-mb3051","status":"publish","type":"post","link":"https:\/\/www.solarquotes.com.au\/blog\/cefc-ing-green-loans-mb3051\/","title":{"rendered":"CEFC Mulls Over $75M Investment In ING Green Loan Program"},"content":{"rendered":"<p><img decoding=\"async\" class=\"aligncenter wp-image-88069 size-full\" src=\"https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2024\/11\/heuf-cefc-ing.png\" alt=\"ING Australia Green Upgrade Loan\" width=\"1200\" height=\"630\" srcset=\"https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2024\/11\/heuf-cefc-ing.png 1200w, https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2024\/11\/heuf-cefc-ing-300x158.png 300w, https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2024\/11\/heuf-cefc-ing-1024x538.png 1024w, https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2024\/11\/heuf-cefc-ing-768x403.png 768w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><\/p>\n<p>The Clean Energy Finance Corporation is contemplating teaming up with ING Australia on a low-rate green home upgrade loan offer via the Household Energy Upgrades Fund. <!--more--><\/p>\n<p>The pair have signed a Memorandum of Understanding &#8211; and the understanding is the CEFC will *consider* investing up to $75 million towards ING&#8217;s $150 million Green Upgrade Loan program.<\/p>\n<p>Assuming it all goes ahead (and when that might be is also TBA), the CEFC finance should help deliver a fixed interest rate of 3.74 per cent for the first 5 years on a loan of up to $50,000 for the purposes of installing clean-tech items such as &#8220;battery-ready&#8221; solar systems<sup class='endnote'><a href='https:\/\/www.solarquotes.com.au\/blog\/cefc-ing-green-loans-mb3051\/#en-88068-1' id='enref-88068-1' onclick='return hhEndnotes_show(88068)'>1<\/a><\/sup> and home batteries.<\/p>\n<p>This will be available to eligible ING mortgage customers, who will also have access to tools recommending appropriate clean energy technology upgrades.<\/p>\n<blockquote><p>&#8220;We\u2019ve designed our Green Upgrade Loan following customer and mortgage broker feedback that the retrofitting process is complex and time consuming,&#8221; <a href=\"https:\/\/www.cefc.com.au\/media\/media-release\/cefc-and-ing-sign-mou-to-deliver-low-rate-green-home-loans-via-heuf\/\">said<\/a> ING CEO Melanie Evans. &#8220;If we want to accelerate decarbonisation, we need to remove the complexities and barriers that are stopping people from making their homes more energy efficient.&#8221;<\/p><\/blockquote>\n<p>According to the Department of Climate Change, Energy, the Environment and Water (DCCEW), residential buildings account for around 24% of overall electricity use and more than 10% of total carbon emissions in Australia.<\/p>\n<h2>About The HEUF<\/h2>\n<p>If\/when the ING green upgrades loan with Clean Energy Finance Corporation backing eventuates, this would be the third investment by the CEFC from the Household Energy Upgrades Fund (HEUF). The Australian Government allocated $1 billion to the CEFC to create the HEUF, which provides discounted consumer finance to help households upgrade the energy efficiency of their homes.<\/p>\n<p>The fund, which began its first year of operation in the 2023\u201324 financial year on 1 December 2023, is expected to assist more than 110,000 households.<\/p>\n<p>More information on the <a href=\"https:\/\/www.energy.gov.au\/rebates\/household-energy-upgrades-fund\">HEUF can be found here<\/a>.<\/p>\n<p>There&#8217;s been significant interest from the finance sector in participating in the HEUF, with the CEFC receiving proposals worth more than $850 million in green loans to date. So far, $220 million has been earmarked and the organisation is continuing to work with various lenders on other programs. Further commitments (or perhaps quasi-commitments as with ING) are expected next year.<\/p>\n<h2>Westpac HEUF-Backed Loans Are Already Go<\/h2>\n<p>In August this year, <a href=\"https:\/\/www.westpac.com.au\/about-westpac\/media\/media-releases\/2024\/18-August\/\">Westpac announced<\/a> it was launching Sustainable Upgrades home and investor loans &#8211; the first bank to be supported by the HEUF; for real this time. It&#8217;s offering a variable interest rate of 4.49% p.a. to eligible owner-occupier and investor home loan customers, who can apply to borrow up to $50,000 with a loan term of up to ten years.<\/p>\n<p>Westpac&#8217;s research indicates 89% of Australians looking to renovate within five years would consider sustainable upgrades a part of that exercise. 38% would consider installing solar panels, 27% home batteries, 25% solar hot water, 23% installing insulation and 22% would consider double-glazed windows.<\/p>\n<h2>More On Solar Finance<\/h2>\n<p>Approached correctly, a solar system can save more money each month than it costs to finance; including interest. So, what&#8217;s the best way to finance a solar\/battery installation? It requires some shopping around and will vary depending on your circumstances. We discuss the potential benefits and pitfalls of various forms of <a href=\"https:\/\/www.solarquotes.com.au\/solarfinance.html\">solar finance in more detail here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Clean Energy Finance Corporation is contemplating teaming up with ING Australia on a low-rate green home upgrade loan offer via the Household Energy Upgrades Fund.<\/p>\n","protected":false},"author":17,"featured_media":88069,"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-88068","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-solar-battery-news","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.2 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>CEFC Mulls Over $75M Investment In ING Green Loan Program<\/title>\n<meta name=\"description\" content=\"The CEFC is contemplating teaming up with ING Australia on a low-rate green home upgrade loan offer via the Household Energy Upgrades Fund.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.solarquotes.com.au\/blog\/cefc-ing-green-loans-mb3051\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CEFC Mulls Over $75M Investment In ING Green Loan Program\" \/>\n<meta property=\"og:description\" content=\"The CEFC is contemplating teaming up with ING Australia on a low-rate green home upgrade loan offer via the Household Energy Upgrades Fund.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.solarquotes.com.au\/blog\/cefc-ing-green-loans-mb3051\/\" \/>\n<meta property=\"og:site_name\" content=\"SolarQuotes Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/SolarQuotes\/\" \/>\n<meta property=\"article:published_time\" content=\"2024-11-13T19:14:11+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2024\/11\/heuf-cefc-ing.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Michael Bloch\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@solar_quotes\" \/>\n<meta name=\"twitter:site\" content=\"@solar_quotes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.solarquotes.com.au\/blog\/cefc-ing-green-loans-mb3051\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.solarquotes.com.au\/blog\/cefc-ing-green-loans-mb3051\/\"},\"author\":{\"name\":\"Michael Bloch\",\"@id\":\"https:\/\/www.solarquotes.com.au\/blog\/#\/schema\/person\/66afd571aa00c2e442f0192ebac2f6f1\"},\"headline\":\"CEFC Mulls Over $75M Investment In ING Green Loan Program\",\"datePublished\":\"2024-11-13T19:14:11+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.solarquotes.com.au\/blog\/cefc-ing-green-loans-mb3051\/\"},\"wordCount\":558,\"commentCount\":1,\"publisher\":{\"@id\":\"https:\/\/www.solarquotes.com.au\/blog\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.solarquotes.com.au\/blog\/cefc-ing-green-loans-mb3051\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2024\/11\/heuf-cefc-ing.png\",\"articleSection\":[\"General Solar &amp; 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While various rebates and subsidies are available for emissions-saving and energy bill-busting technologies such as solar power systems and electric vehicles, it can still be difficult finding the up-front cash needed to make\u2026","rel":"","context":"In &quot;General Solar &amp; Storage News&quot;","block_context":{"text":"General Solar &amp; Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"Green loans in Australia","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2023\/03\/green-loans.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2023\/03\/green-loans.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2023\/03\/green-loans.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2023\/03\/green-loans.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2023\/03\/green-loans.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":47626,"url":"https:\/\/www.solarquotes.com.au\/blog\/cefc-ingenia-solar-mb1879\/","url_meta":{"origin":88068,"position":2},"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 &quot;General Solar &amp; Storage News&quot;","block_context":{"text":"General Solar &amp; 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":24165,"url":"https:\/\/www.solarquotes.com.au\/blog\/sa-home-battery-subsidy-mb0736\/","url_meta":{"origin":88068,"position":3},"title":"$6,000 Solar Battery Storage Subsidies Up For Grabs In SA","author":"Michael Bloch","date":"September 10, 2018","format":false,"excerpt":"South Australian households will be able to access generous subsidies for the installation of home battery systems from next month, and loans will also be made available for solar panels plus storage. 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The two projects are the Wemen Solar Farm in Victoria and the Clermont Solar Farm in Queensland. The developer of both facilities\u2026","rel":"","context":"In &quot;General Solar &amp; Storage News&quot;","block_context":{"text":"General Solar &amp; Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"Solar Power - Clean Energy Finance Corporation","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2017\/12\/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\/2017\/12\/cefc-solar-power.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2017\/12\/cefc-solar-power.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2017\/12\/cefc-solar-power.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":86150,"url":"https:\/\/www.solarquotes.com.au\/blog\/energy-efficiency-loans-westpac-mb2989\/","url_meta":{"origin":88068,"position":5},"title":"Westpac Launching Low-Interest Sustainable Home Upgrades Loans","author":"Michael Bloch","date":"August 20, 2024","format":false,"excerpt":"The first low-interest bank loans supported by the Clean Energy Finance Corporation's (CEFC's) Household Energy Upgrades Fund (HEUF) will be available from next week to eligible Westpac home loan customers. 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