An environmental upgrade agreement is a form of financing offered through the mechanism of your council rates, therefore making it very simple to make a capital investment in a narrow range of improvements, and pay for those over a period of time through your council rates.
The advantages are in 1. Cashflow and 2. Simplicity
The repayments remain with the property, and its rates, even if you sell.
It removes finance as a barrier to entry. There are no covenants, no ongoing reporting, no Director’s guarantees, no refinancing, no fluctuations in interest rates (the 2nd video below explains this well).
Remember, each council is different, so this is just an overview.
If you think you meet these criteria, please contact us for further information. We can help you to find the right bank who participates in the EUA scheme. We can also carry out the financial analysis to assess your electricity savings, which will be in most cases greater than the council rate, allowing your business to save money from day one.
NSW Councils offering EUAs at the time of writing:
- City of Sydney
- Parramatta City Council
- North Sydney Council
- Lake Macquarie City Council
- The City of Newcastle
- …and if you’re in Melbourne
And the activities considered are:
- Improving energy or water efficiency,
- Reducing waste and greenhouse gas emissions,
- Pollution prevention or reduction,
- Renewable energy projects and reducing car use by encouraging activities like walking and cycling.
(click image to open a factsheet)