Environmental Upgrade Finance (EUF) is an agreement where a building owner borrows money for environmental building upgrades from a financier and makes the repayments through the local council rates system. These repayments are known as an Environmental Upgrade Charge (EUC).
Eligible projects under Environmental Upgrade Finance include upgrades that improve the environmental performance of a building, such as:
Only some Victorian councils support this financing option. Check if your council offers it.
Environmental Upgrade Finance is also available in NSW and South Australia.
Project size: More than $15,000
You’re responsible for maintenance
On the balance sheet
How to apply: Contact your local council.
Compare finance options
The application process can take some time. If you don’t own the building, you may need to negotiate with the building owner. If you own the building and have tenants, you may need to negotiate with them.
Currently, Environmental Upgrade Finance isn’t available for vacant land.
To be eligible, the property must be rateable under the Victorian Local Government Act 1989.
We advise you to always seek advice from your accountant and legal representative when entering financial agreements.
The Victorian Government offers businesses a discount on energy saving products that are installed by accredited Victorian Energy Upgrade providers. Check which energy saving products are registered for a discount.
Visit the Victorian Energy Saver for a list of simple tips to save energy in your business.
Sustainability Victoria's finance team who can help you through this process.
Correct as at November 2019
Disclaimer: The information provided in this document is general advice only. It does not take into account your particular needs or objectives and does not constitute legal or accounting advice. Accordingly, any comments or statements made are not a recommendation that a particular course of action is suitable for you and you need to seek your own legal, tax and accounting advice in relation to your specific circumstances.