TEELS: Tasmanian Government offers renewable loans

Image: Aurora

The Tasmanian government in conjunction with Aurora Energy has announced the Tasmanian Energy Efficiency Loan Scheme (TEELS) to help grow the states solar use and help to make investing in renewable energy even cheaper.

The scheme which has just begun has already seen interest in the community, it is hoped that the move will also help to promote the sale of battery systems which are eligible under this offer.

To qualify Tasmanian residents and small businesses must apply for a Westpac Credit Card with 0% p.a. purchase interest for 36 months attributable only on eligible energy efficient products up to a value of $10,000.

TEELS Loan availability

The loans are only available to those who apply with information about what they want to purchase, and there is a limited number of loans available so getting in quickly is key.

Solar panels will be funded by Tasmanian Energy Efficiency Loan Scheme (TEELS) to help grow the states solar use

Image: Energy Matters

Samuel Dingemanse from Energy Bank believes in the power of this offer. When speaking to Energy Matters saying,

“We believe that this initiative is important because it will allow a wide range of people to access solar and battery systems, where previously they may not have had the financial capacity to do so. The 3 year interest free term effectively allows the client to pay back the majority of the system cost through electricity savings during this time.”

“There has been a strong response to the scheme, as it really is a no brainer for anyone looking to invest in renewable energy.”

Community interest high

With Aurora receiving more than 1300 applications worth $10.2 million in just over two weeks there is a strong interest among Tasmanian residents as reported in The Mercury publication.

Tasmanian Energy Minister Matthew Groom saying on the scheme,

“There have been 1227 applications from residential applicants and 61 from small businesses. This has meant the level of funding is being taken up quickly which is very positive for this scheme.”

“This scheme is part of the Government’s focus on making energy more affordable through promoting energy efficiency,” he said.

A list of eligible products and information on how to register is available at www.auroraenergy.com.au. The scheme will be managed to ensure those who apply can pay back their loans.

See our other Tasmanian solar incentives page.