MONDAY 22 FEBRUARY, 2010 |
Australian Government Green Loans Fallout
An announcement on Friday afternoon by the Australian Government about the scrapping
of its Green Loans program
has upset a number of Australian home owners
currently in the process of applying who had hoped for loans to install home
solar power systems.
A point in the Government's announcement being hotly debated is the Government's
claim of "the discontinuation of the less popular loans component
next month to provide for the significant boost to assessment
According to participants in an ongoing
about the Green Loans program currently occurring on Energy Matters' solar
; the reason uptake of the loans has been so low is due to major
failures in the system and multiple obstacles needing to be overcome before
getting to loan application stage.
The issues reported include:
1.People who had had their houses assessed not receiving their assessment reports,
a compulsory document needed in order to apply for a loan. Some people who had
their houses assessed in October last year say they still have not received any
2. Continual problems and glitches in critical software associated with the
program that created confusion or rendered it unavailable due to upgrades and
3. Appropriate processes and training among participating financial institutions
being non-existent in some cases.
4. Reports of people being unable to enquire about their assessment report
status or other information due to the Green Loans hotline being continually
inundated with calls.
5. Vague or overly complex assessment reports that didn't outline a clear plan
Australian Greens Deputy Leader Senator Christine Milne stated shortly after the
Government's announcement, ".. what is the point of a Green Loans scheme
without any loans? It fails to deal with the problem it was supposed to tackle -
overcoming the up-front cost of energy efficiency upgrades."
With the Australian Government's Green Loans program loan component to end on
March 22, some of Energy Matters' online community members are advising people
with assessments to go to their lender of choice immediately and people waiting
on assessments have been urged to contact their assessor if possible and ask
they send a soft copy of the assessment report to their chosen lender, as this
may be enough to set up the loan.
have also begun compiling an updated list of banks and
other financial institution offering low
interest green loan products
not tied in with the Green Loans program for
the purposes of purchasing renewable energy equipment such as home solar power
Participate in the Green
Loans announcement discussion here
Other news for Monday 22 February, 2010
Return to main renewable energy news section
Other Energy Matters News Services