Upgrade your building

Building upgrade finance is a smarter way to pay for upgrades to your building

Benefits

The savings pay for the upgrades

Building upgrades can deliver significant savings that can be used to repay the upgrade finance.

Owners and tenants share the benefits

Owners and tenants can both gain from maximising a building’s energy efficiency. Building upgrade finance allows owners and tenants to share these benefits.

To date tenants have contributed approximately 50% of the cost of energy efficiency projects funded using building upgrade finance.

A longer loan term

Building upgrade finance is secured finance so it can be locked in for a longer term, up to 20 years. This increases the likelihood that the savings generated will be greater than the finance repayments and better match the life of the upgraded equipment.

Building upgrade finance is attached to the land

Building upgrade finance is attached to the land. If the land is sold, the debt may be transferred to the new owners or discharged on settlement.

Eligible upgrades

To be eligible the building must be an existing, non-residential building, located in a participating council area. 

Eligible works under Building Upgrade Finance are those that improve the energy, water or environmental efficiency or sustainability of a building.

Typically projects funded fall into three categories:

1. Generation of renewable energy and emissions reduction (eg: solar PV, end of trip facilities etc.)
2. Improvement of energy and / or water efficiency (eg: efficient plant and equipment – lighting, air conditioning, boilers and lifts; rainwater tanks, water efficient fixtures and fittings etc.)
3. Minimisation of waste (eg: waste infrastructure systems)

How to get started

Talk to an energy consultant or service provider who has previously been involved in Building Upgrade Finance.

Or

Talk to your finance provider or a finance provider known to offer Buiding Upgrade Finance.

More information on Building Upgrade Finance, including successful projects, is on the Building Upgrade Finance website.