Victorian Environmental Upgrade Finance market summary

March Quarter 2018/2019

The Environmental Upgrade Finance (EUF) market in Victoria is leading nationally with:

  • 65 projects financed
  • $27.9 million invested as of March QTR 3 2018/2019.

Of the total capital value invested so far, there are:

  • 50 renewable solar projects (77%)
  • 13 energy efficiency projects (22%)
  • 1 energy generation (tri-gen) project (1.5%)
  • 1 water treatment plant (1.5%).

Other interesting statistics

Commercial building and manufacturing makes up the major share of projects (90%), a respective capital invested value of $14.92 million and $9.77 million.

The 65 projects will deliver a combined greenhouse gas (GHG) emission saving of 377,266 tonnes of carbon dioxide equivalent over the life of all the projects.

A significant uptake of EUFs was seen in the last two years where a total of 29 projects were added between 2016/2017 to 2017/2018. This was driven by an amendment to the Local Government Act 1989 enabling all Victorian councils to offer EUFs.

Data dashboard

Please click on individual elements of the dashboard to filter by data type, such as clicking on the year 2019 will highlight all projects in 2019 in the other graphs by project size, type, LGA etc. Any feedback on the data dashboard is greatly appreciated.  

This data has been provided by Better Building Finance.

Local councils

 

Currently, a total of 35 local governments in Victoria have been onboarded to facilitate EUF agreements, including:

  • Baw Baw Shire Council
  • Brimbank City Council
  • Campaspe Shire Council
  • Cardinia Shire Council
  • Central Goldfields Shire
  • City of Greater Bendigo Council
  • City of Greater Geelong Council
  • City of Kingston
  • City of Melbourne
  • City of Monash Council
  • City of Port Phillip
  • Darebin City Council
  • Greater Dandenong Council
  • Greater Shepparton Council
  • Hepburn Shire Council
  • Hobsons Bay City Council
  • Horsham RuralCity Council
  • Hume City Council
  • Indigo Shire
  • Knox City Council
  • Macedon Ranges Shire Council
  • Maribyrnong City Council
  • Mildura Rural City Council
  • Mitchell Shire Council
  • Moira Shire Council
  • Moonee Valley Council
  • Moreland City Council
  • Mornington Peninsula Shire
  • Mount Alexander Shire Council
  • South Gippsland Shire Council
  • Wangaratta Rural City
  • Warrnambool City Council
  • Wellington Shire Council
  • Wyndam City Shire Council
  • Yarra Ranges Council.

EUF Case Study

Businesses can now take advantage of EUF loans to undertake energy efficiency and renewable energy actions, with the energy cost savings contributing towards loan repayments made via local government rates.

Hilustre Coatings is an example of a company that used SV funding to improve energy efficiency, this video also describes the types of projects that can be financed under an EUF and how Sustainable Melbourne Fund and Sustainability Victoria are working together to grow EUF lending through local government rates.