No Interest Loans for Energy Efficiency

It has been reported that the Tasmanian Government has set aside $10 million to a fund a scheme that will offer homes and small business a no interest loan to improve their energy efficiency. The loans will not have any earnings restriction and any energy user will be able to apply.

Energy Minister Matthew Groom is yet to confirm the reports but is expected to make the announcement before the end of the year. It is understood that they will offer residential customers up to $4000 and small business up to $10 000 with a no interest period of five years.

The ABC reported that the Minister was not forthcoming and when pushed for details he said, “We’re developing it up, so it’s available to all households and small business in Tasmania.”

“We want it to extend to solar including solar hot water, but it will apply to other appliances including for example a heat pump.”

“We will be launching that scheme towards the end of this year.”

Tasmania already has a low interest loan scheme available to low income earners and capped at $3000 per person – this also does not extend to include solar power. With electricity prices increasing by 3% – 4% each year in Tasmania – this is an offer many are already interested in.

The Energy Minister refused to talk about feed in tariffs and any increase on that front.

Will this start the ball rolling with Queensland and other Australian State Governments offering help for increased energy efficiency? Or will Australia keep condoning coal mining until all our resources have been used up and pollution/CO2 is out of control?