Public information shared by the Climate Action Sustainable Household Scheme at their Information Session on 10 February 2021. Summary below or visit the full presentation here.
Note: Feedback from ACT solar and battery retailers and installers due on 17 February 2021 into Ros Malouf, Senior Director – Environment, Planning and Sustainable Development Directorate – [email protected]
About the scheme
- Zero-interest loans of up to $15,000 for households and not-for-profit community organisations to assist with the upfront cost of investing in: rooftop solar panels, household battery storage, efficient appliances, electric vehicles
- The government is seeking views on the capability of the industry to commence this scheme by 30 April 2021
- Seeking views on initial volume of loan capital and contract term:
- For example, the initial contract would be the 12 months with a potential 12 month extension and a loan capital of $10million in the first 12 months.
- Is this a feasible term and level of loan capital?
Key eligibility criteria
- The AUV of the property of less than $750,000
- The scheme is restricted to households only in the first phase
- The scheme would begin will a rolled out approach, reaching those customers in the know first followed by additional marketing activities
- No-interest loan threshold is $15,000 with a payback period of 10 years
- Bundled packages of products above the loan threshold are permitted, with the customer liable to pay any costs above the loan caps
- Loans may only be used to purchase and install eligible and accredited products, full list to be determined by the government
- Clear eligibility criteria will be agreed between the Service Providers and the Territory for the provision of loans and requirements of a qualifying installation
- A monthly repayment schedule with no interest changed with an option to repay the entire loan amount early with no penalties
- No fees charged for establishing or maintaining the loan amount
- The loan will be required to be repaid in full when an individual sells the property with the potential to make thus a mandatory requirement prior to allowing property settlement. (Alternative arrangements will be considered for EV and Electric Bikes)
Scope
Seeking views on initial volume of loan capital and contract term:
- For example, the initial contract could be for 12 months with a potential 12 month extension and with loan capital of $10 million in the first 12 months.
- Is this a feasible term and level of loan capital,
Participant eligibility
- As announced, the key eligibility criteria will be the AUV of the property
- The scheme is likely to initially be restricted to households only. Community organisations would be able to participate in the scheme in future phases
- We are also considering a phased commencement for the first few months to give time to bed down the scheme process. This would limit the scheme to informed consumers before opening it up more broadly
Guidelines loan criteria
- The no-interest loan thresholds is $15,000 with a payback period of 10 years
- Bundled packages of products above the loan threshold are permitted, with the customer liable to pay any costs above the loan caps
- Loans may only be used to purchase and install accredited products, full list to be determined by Government
- Clear eligibility criteria will be agreed between Service Providers and the Territory for the provision of loans and requirements of a qualifying installation
- A monthly repayment schedule with no interest charged with an option to repay the entire loan amount early with no penalties
- No fees charged for establishing or maintaining loan amount
- The loan will be required to be repaid in full when an individual sells the property with the potential to make this a mandatory requirement prior to allowing property settlement. ( Alternative arrangements will be considered for EV and Electric Bikes)
Installers role
- Provide high-quality, detailed quotes. customers in line with industry-best practice
- Operate under industry-leading safety and quality management systems, including internal oversight and audit and quality improvement system
- Installations must be undertaken by suitably accredited, licensed and experienced installers with a history of demonstrating high levels of quality assurance, industry compliance, WHS compliance and customer satisfaction
- Support customers to understand the operation of the products installed, including the provision of manuals and education
- Provide robust warranties appropriate to the conditions the system would reasonably be expected to operate under, meets program requirements and customer expectations
- Provide high quality after-sales care, including technical support and warranty
- Provide reports on installs undertaken, compliance issues, customer feedback and other reporting requirements as agreed by the Territory
