Tasmania Energy Saver Loan Scheme

While Tasmania has among the lowest regulated electricity prices in Australia, households and businesses are experiencing escalating energy costs, making energy security an increasingly important issue. At present, there aren’t any state-based rebates for solar panels and local households that invest in a solar panel system receive the Federal Government STCs. However, Tasmanians can take advantage of the interest-free loans the Tasmanian Government has made available.

The Tasmanian Energy Saver Loan Scheme is eligible for both households and businesses, providing interest-free loans of between $500 and $10,000 over three years for approved energy efficiency upgrades, including the sonnenBatterie.

The funding from the loan is for the purchase price and installation of energy-efficient products. The loans are interest-free, and they don't have any establishment or account-keeping fees, however, fees for late repayments do apply. The loans provided as a part of the scheme require fortnightly or monthly repayments, with the entire sum to be paid by the end of the loan term.

Scheme eligibility and applications – how does it work?

The Energy Saver Loan Scheme provides interest-free loans to eligible applicants to fund the purchase price and installation of energy-efficient products. The loans cover a wide range of products, including solar PV systems, battery storage systems, hot water systems, insulation, window glazing and more.

The process of applying for the Energy Saver Loan Scheme is through Brighte. Brighte is the exclusive partner for the TAS Energy Saver Loan Scheme. This includes:

1. Use the Brighte marketplace to view a list of vendors and suppliers
2. Get a quote from an authorised vendor 
3. If you approve of the quote, let your vendor know
4. Your vendor  will start the loan process on your behalf
5. Brighte will contact you to apply for the loan and assess your application
6. Once your loan is approved, your vendor will arrange for the installation of your product

It's important to note that if your application is successful, you will not be able to access your loan from Brighte directly. The funds provided by the Energy Saver Loan Scheme will be paid to your chosen accredited supplier by Bright on your behalf - and you will make repayments to Brighte (as the Energy Saver Loan Scheme administrator).

Scheme eligibility criteria

The eligible applicants for the Tasmanian Energy Saver Loan Scheme are:

• Tasmanians for their principal place of residence
• Landlords with residential tenants
• Small business and community organisations with an electricity consumption lower than 150MWh per year

The loan must be used to purchase and install eligible products in Tasmanian properties, including:

• Your principal places of residence
• Tenanted residential properties (e.g. a property in which you have residential tenants)
• Small businesses, commercial or community organisational properties

No single applicant may be loaned more than $10,000 in total. However, accessing the scheme for your primary residence won't prevent your small business from getting a loan for its premises. The loans will only be made applicable to applicants with the capacity to repay them over the term of the loan. For residential customers and landlords, you must satisfy the following credit approval criteria:

• You are a permanent resident of Australia
• You are 18 years of age or over
• You have a credit score acceptable to the Contractor and a clear credit file
• You have a bank account or credit card in your name
• You have a demonstrated capacity to repay
• You have a demonstrated income verification
• You can provide suitable identification

Other conditions do apply. For the full terms and conditions information, visit Renewables, Climate and Future Industries Tasmania.

Benefits of home battery storage

Installing a home battery to store the energy your rooftop solar PV system generates is an excellent investment and provides a wide range of benefits. Here are three of the many reasons why you should consider applying for the Energy Saver Loan Scheme to assist with the purchase of a battery.

• Blackout prevention: Some home batteries, like the sonnenBatterie Evo, enable you to keep lighting and appliances powered at home during a blackout with a backup power feature
• Emissions reduction: Reducing reliance on grid electricity by using solar helps households to reduce their carbon footprint and lowers the impact our lifestyles have on the environment
• Energy independence: Installing a home battery can help to deliver greater independence from the grid, reduce exposure to rising energy prices and lower your electricity bills.

Want to find out how much you could potentially save each year with solar battery storage? Use our online solar battery calculator to get an immediate estimation of your potential solar savings.

Find a sonnen approved installer

Explore the sonnen product range and contact a sonnen expert to find out how we can help you access the Energy Saver Loan Scheme, and help your household move closer to energy independence.