ACT’S Sustainable Household Scheme- Interest-Free Loans for Energy Efficient Home Upgrades

ACT Household Scheme

For those Aussies residing in the ACT and interested in installing a solar energy system, we’ve great news for you! The Australian Capital Territory Government has introduced Brighte as its finance partner for the Sustainable Household Scheme.

What’s the Sustainable Household Scheme?

The ACT’s Sustainable Household Scheme was introduced to provide Aussies with no-interest loans for renewable energy solutions. The loan could be as small as $2,000 and as much as $15,000 for eligible households within the Territory. The scheme will help you with the upfront costs that you need to invest in energy-efficient home upgrades. There’s currently a pilot for the scheme happening, helping to enhance any shortfalls before it goes live. Moreover, the thought behind this scheme was to help limit contributions to global warming, improving the quality of life of those residing within the territory at the same time. So, let’s have a look at the different products that are available under the scheme.

  • Rooftop solar panels (Category A)
  • Home battery storage programs (Category A)
  • Electric vehicle charging infrastructure (Category A)
  • Electric stovetops (Category B)
  • Hot water heat pumps (Category B)
  • Electric heating and cooling systems (Category B)
  • Electric vehicles (Category C)

Additionally, you’ll be capable of using the loan to cover your installation costs too.

What is Brighte?

Brighte is the finance partner for the Sustainable Household Scheme in the ACT. Brighte was founded in 2015 and works to help provide Aussie households access to numerous renewable energy solutions through finance. The company’s mission is to play its part in making every Aussie house a green one, protecting the interest of their customers, and serving to give every Australian access to renewable energy solutions. So, it’s not a surprise that the ACT Government has decided to associate with Brighte, particularly with the drive behind this scheme being closely aligned with the company’s missions.

Am I Eligible for the Interest-Free Loan?

There are a couple of eligibility criteria that you should know in case you’re thinking about applying for this loan. Out of the three categories listed above, solar energy systems and home batteries sit within Categories A and B. So, read about the criteria for these products below.

For those who’re thinking about an interest-free loan as a part of the scheme, the property has to be:

  • A standalone residence or unit (so long as the unit has been defined as a definite property within the unit plan);
  • Geographically situated within the ACT (this contains Hall, Tharwa and Oaks Estate; however, it doesn’t include Jervis Bay Territory);
  • Valued (based mostly on unimproved value) at below $750,000 for both standalone houses or units; and
  • Is owned by the participant of the scheme (including those with a mortgaged house) or where the scheme participant has full authority and the proper approvals to install the products.

You may read about eligibility criteria and scheme guidelines by clicking here.

What Now?

Well, there are a couple of more questions you might have if you’re thinking about jumping on board the scheme. So, take a look at the extra clarification points below.

  • If you succeed in your loan application, you can start repaying as soon as your product has been installed (or purchased if it’s an electric vehicle) or once your installer sends off the invoice.
  • You won’t have to pay any upfront prices if you’re approved for a loan under the scheme. This implies you can start saving on your electricity invoice without sacrificing a large upfront payment for a solar energy system!
  • Depending on the credit check that gets completed as a part of the application, you may be able to borrow more than the $15,000 limit. The loans provider may, however, choose to charge interest for any funds borrowed above the limit. 

Source: https://www.actsmart.act.gov.au/what-can-i-do/homes/sustainable-household-scheme

Now is the time to go solar!

ACT residents, now are the perfect time for you to go solar. AYKA Solar is one of the most reputable solar companies in Australia. We specialize in residential solar panel installation and commercial solar panel installation. We have installed over 40,000+ panels and will continue to offer exceptional solar services over the coming years as more Australians take pleasure in the benefits of the solar energy system.

Do not think twice to get in touch with our fantastic team at AYKA Solar if you’d like to discover more about the expense of solar panel installation. Call us today!

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