Clean energy finance for South Australian landlords

$10,000 no-interest loans for solar under SA Labor govt

Landlords in South Australia have a new way to finance clean energy upgrades in their commercial buildings.

The SA Government has introduced Building Upgrade Finance as part of its plan to turn Adelaide into the world’s first carbon neutral city.

This is good news for landlords keen to improve energy efficiency and cut costs by installing solar technology in commercial premises.

The new initiative will also stimulate investment and jobs in South Australia, while helping reduce emissions across the state.

It builds on the momentum generated by renewable giant Tesla, now building the world’s largest lithium-ion battery in South Australia.

Clean energy drive a win-win for owners and tenants

Building Upgrade Finance is a voluntary form of finance aimed at building owners, local councils and financiers.

Clean energy SA funding for commercial landlords.
Commercial landlord funding now available for SA clean energy upgrades. Image: Pixabay

Designed to tackle market barriers currently preventing upgrades of commercial buildings, the mechanism facilitates upgrades that improve energy and/or water efficiency, reduce emissions, or include renewable energy measures such as solar panels.

Existing barriers include access to the necessary upgrade capital, and the split incentive between landlords and tenants in leased buildings. This is where building owners incur the upgrade cost, but tenants receive the benefits through reduced energy costs and improved accommodation.

The ability to install renewable options, including solar energy and battery storage, is a win-win for landlords and tenants.

The scheme will enable property owners to improve their buildings’ environmental performance, reducing operating costs, increasing rental yields and attracting tenants.

Clean energy sources for heritage properties

An Australian first, the plan will allow and promote environmental upgrades to heritage buildings throughout South Australia.

SA Climate Change Minister Ian Hunter says: “Adelaide has some wonderful heritage buildings and I’m proud that South Australia is the first jurisdiction in Australia where heritage building upgrades qualify for financing under this mechanism.

“[This will] enable these buildings to not only remain beautiful, but also become energy efficient, environmentally friendly and more utilised.”

Overall, Mr Hunter predicts the finance scheme will help:

  • Improve existing building stock.
  • Enhance amenities for tenants.
  • Reduce emissions.
  • Promote suppliers of clean technologies and renewable energy.
  • Boost property sector employment.

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