Brighte to support solar loans for ACT apartments

• New $3.6m joint Federal and ACT program to support the rollout of solar to multi-unit apartments
• Grants and zero interest loans up to $50,000 each will be available for eligible apartments 
• Brighte will administer loans and facilitate installations through its vendor network

Green financier Brighte will be supporting the rollout of solar to apartment buildings in the ACT, providing loans up to $50,000 for body corporates as part of the Sustainable Household Scheme (SHS).

The move is part of a joint initiative between the ACT Government and the Commonwealth Government, which will see $3.6 million in funding allocated for the installation of shared rooftop solar on multi-unit apartments.

Under the program, body corporates in the ACT can access up to $100,000 in funding for rooftop solar installations. Half of the funding comes from a Commonwealth rebate or grant under the Solar Banks initiative, and the other half is provided as an interest-free loan by the ACT Government.

As exclusive finance and administration provider of the SHS, Brighte will administer the ACT Government's interest-free loans, making it easier for multi-unit dwellings transition to solar energy.

Brighte's Founder and CEO, Katherine McConnell, expressed her enthusiasm for the initiative, stating, "Our mission is to make sustainability affordable and accessible to everyone, and this announcement does just that.” 

“By working with the ACT and Commonwealth governments, we are taking a giant step toward a cleaner, more sustainable future for the ACT's apartment residents. We are proud to be a part of this transformative initiative and look forward to making rooftop solar a reality for more Australians."

The impact of this program is expected to be significant, with over 2,100 households benefiting from the installation of rooftop solar panels. The government estimates the program has the potential to reduce electricity bills for Canberrans living in apartments by up to 35 percent, contributing to a more sustainable and affordable future for residents of the ACT.

The ACT Sustainable Household Scheme has now reached over 10 percent of all households in the Territory. The ACT Government recently committed an extra $80 million to the Scheme in the 2023-24 ACT budget, taking the total program funding to $280 million.