Applicant Terms for TAS Energy Saver Loan Scheme
September 2022
Under the TAS Energy Saver Loan Scheme, TAS residents will be able to apply for 0% interest loans for the purchase of products to improve household sustainability and reduce emissions. Participation in the Scheme is subject to the below criteria.
The Energy Saver Loan Scheme
The Energy Saver Loan Scheme provides no-interest loans to eligible applicants to ease the up-front cost of making energy efficient investments.
Energy Saver Loans are interest-free, have no establishment fee, and no account-keeping fee - although fees for late repayments do apply.
Loans may be issued for amounts between $500 and $10,000.
Loans may be issued for terms of one (1) to three (3) years.
Loans require fortnightly or monthly repayments (with the entire sum to be paid off by the end of the loan-term).
Eligible Applicants
Eligible applicants are:
Tasmanians for their principal place of residence;
landlords with residential tenants in Tasmania; and
Tasmanian small businesses and community organisations (with an electricity consumption lower than 150MWh per year).
Energy Saver Loans must be used to purchase and install eligible energy efficient products in Tasmanian properties. These properties are:
principal places of residence;
tenanted residential properties (ie a property in which you have residential tenants); or
small business, commercial, or community organisation properties (eg a property that is used for the predominant purpose of a small business*).
*These properties may include properties used for holiday accommodation if the use is part of a small business.
Loans are capped at $10,000 per property.
No single applicant may be loaned more than $20,000 in total (ie accessing the scheme for your primary residence won’t prevent you from getting a separate loan for your small business).
Loans will only be made available to applicants that have the financial capacity to repay them over the term of the loan. There are no income, house value or asset tests. It's open to all Tasmanians that want to invest in energy efficiency, so long as they can service the loan.
If you’re not eligible to receive an Energy Saver Loan, then you may be eligible to access other forms of Government assistance. These include our No Interest Loan Scheme (NILS), which we have designed for Tasmanians with low incomes.