Environmental Upgrade Finance (EUF)

Knox City Council now offers access to an Environmental Upgrade Finance (EUF) program to assist Knox businesses to save money and improve their environmental performance.

What is Environmental Upgrade Finance?

An Environmental Upgrade Agreement (EUA) is an agreement between a non-residential property owner, a lender and council that facilitates a building upgrade to improve its efficiency. EUAs allow for the tenants and building owners of commercial and industrial properties to collaborate on energy, water and waste reduction projects that will reduce the impact to the environment and reduce operating costs. Unlike other alternative finance options, EUAs allow tenants to contribute financially to the project where it makes sense to do so and helps shape the project to best suit individual needs. Importantly, Environmental Upgrade Finance also offers 100% project finance, very competitive interest rates and long term finance arrangements.

What types of projects are eligible?

Eligible commercial property owners can apply for finance up to 100% of project costs with repayments structured through Council’s rates on a quarterly basis.

Projects may include:

  • Installation of an approved solar hot water or solar panel system to any eligible premises
  • Lighting upgrades to more efficient lighting e.g. LED, lighting controls and daylight sensors
  • Heating, cooling and ventilation improvements or external façade upgrades for solar shading
  • Energy efficient equipment e.g. pumps and variable speed control equipment
  • Rainwater harvesting and filtration systems
  • Water recycling/treatment for re-use of water
  • Waste reduction initiatives

How do I apply?

Knox businesses interested in EUF should contact Better Building Finance.

More information

For more information on Environment Upgrade Agreements or other funding options visit:

https://www.energy.vic.gov.au/energy-efficiency/environmental-upgrade-agreements

https://www.sustainability.vic.gov.au/Business

Or contact the City Futures team at Knox Council on 9298 8000.