ACT rental providers can now apply for zero interest loans up to $15,000 for ceiling insulation through the Sustainable Household Scheme program.
The program is exclusively administered by decarbonisation financier and enabler Brighte.
The move supports new regulation coming into effect in April 2023, requiring all residential rental properties in the ACT to meet a new minimum efficiency standard for ceiling insulation.
The Residential Tenancies Act 1997 begins this month with a phase-in period extending to 30 November 2026.
Brighte CEO Katherine McConnell said company’s market leading platform was supporting the ACT’s aspiration of net zero emissions by 2045.
"We know rental properties have a big role to play in reducing emissions so we’re pleased to support the inclusion of insulation to make homes for renters more sustainable and comfortable, as well as deliver lower bills,” McConnell said.
“Our team has worked closely and collaboratively with the ACT government, the Energy Efficiency Council and industry providers to co-design a simple, safe and streamlined solution for ACT residents, that leverages our best in class finance, administration and vendor management capabilities.”
“This means Brighte now covers the field in sustainability, supporting household products for generation and storage, electrification and energy efficiency for green schemes.”
According to the ACT government, around half of the energy used in an average Canberra home is for heating and cooling, with insulation helping to keep homes comfortable during the ACT’s cold winters and hot summers.
Under the program, Brighte will accredit insulation vendors for participating in the scheme, provide finance to eligible applicants and support the ACT government’s safety and compliance regime.
Customers can only purchase insulation materials that comply with Australian Standards, and the final product R-value must be R5 or higher.
The ACT Sustainable Household Scheme has exceeded expectations with over $110 million in settled loans from over 9,000 Canberra households as of February 2023. The scheme has been extended to new products such as Electric Vehicles (EVs).
Just last month, the ACT government committed an extra $50 million for the program and extended Brighte’s tenure as exclusive partner for another two years.
Brighte also administers the Tasmanian government’s $50m Energy Saver Loan Scheme which offers no interest loans up to $10,000 for energy efficient upgrades.
The Tasmanian scheme covers rooftop solar and battery storage systems, electric heating/cooling, hot water heat pumps, solar hot water heating and building upgrades in the form of window double glazing.
Additional products such as energy efficient whitegoods and insulation will be available in future program phases.