Green Loans Program – Solar Power to Make Homes More Energy Efficient.

The Federal Government’s Green Loans Program will commence on 1 July 2009. The Program is designed to assist Australians make their existing homes more energy efficient through the installation of a solar power system or a solar hot water service.

Home Sustainability Assessment

If you are eligible for the program, the first step is to register for a Home Sustainability Assessment. A government-accredited assessor will conduct an assessment of your home free of charge and provide you with a tailored report advising details of water and energy saving changes.

Eligibility for the Green Loans Program

To be eligible for the program the home must have been completed and occupied for at least 12 months and the applicant must meet the following criteria:

• be an Australian citizen or a permanent resident in Australia aged 18 years or over;
• have a taxable income no greater than $250,000 per annum; and
• be the owner of the home or a trustee of the home;

The Program does not extend to dwellings owned by corporate organisations or companies.

The Green Loan

If the homeowner wishes to implement one or more of the water and energy saving measures recommended by the government-accredited assessor, they can apply for a Green Loan of up to $10,000 with a participating bank, credit union or building society, interest free for the first four years.

Eligible homeowners are recommended to apply for the program as soon as possible as the number of Green Loans available are limited.

For further information on the Green Loans Program, please visit www.environment.gov.au/greenloans