Eco-makeovers just became much more affordable.
“Typically, heating and cooling consumes about 40 per cent of the home’s energy; appliances, about 30 per cent; and water heating, about 23 per cent,” Mr Loveridge says. “We’re identifying which changes will have the biggest impact. For instance, if you’ve got an old washing machine that chugs away six hours a day, that’ll be one of the biggest energy users in your house.”
Once you home has been assessed, you’ll be eligible – though not obliged – to take up the scheme’s second measure: a four-year interest free loan for up to $10,000 to help pay for the measures recommended in the report. There will be funding to cover about 75,000 cheap loans and they’ll be available through participating financial institutions.
“I’ve been around the environment game for a long time and I think this is one of the best things that the government has put out,” Mr Loveridge says. Depending on your circumstances, “you can almost pay for that loan just by the savings you make.”
The Green Loans scheme is slated to finish in mid-2012, or whenever the money runs out. Given the early demise of the subsidy on solar photovoltaics, the best bet is to get in early.