The ACT Government is offering a Sustainable Household Scheme (SHS) government backed loans to help homeowners in the ACT save money on their energy bills. The loans are available for the installation of heat pump and solar hot water systems, along with other energy saving products, which are both highly efficient and environmentally friendly.
To be eligible for a government loan, you must:
- Be a homeowner in the ACT
- Have a valid home loan
- Have a credit score of at least 600
- Be able to afford the monthly repayments
Interest Rate and Repayment Terms
The interest rate on government loans is 0%, and the repayment terms are up to 10 years. This means that you can pay off your loan over a long period of time, and you will not have to pay any interest on the amount you borrow. There is also no loan establishment fee and you can pay the loan off at any time without a penalty
This means you could have an Energy Efficient hot water system installed today and only pay $12 per week.
Advantages of Heat Pumps and Solar Hot Water Systems
Heat Pumps and Solar Hot Water Systems are significantly more energy efficient than traditional electric and gas hot water heating options.
Both systems capture the heat directly from the sun (or air) and inject this energy into the water.
Because Hot Water is normally the largest component of a home’s energy bill, year-round, most customers see a major reduction in their homes energy bills after moving to an energy efficient hot water system.
Heat pump and solar hot water systems are a great way to save money on your energy bills and reduce your environmental impact. If you are a homeowner in the ACT, you may be eligible for a government loan to help you install these systems. Contact Water Tight Canberra today to learn more about the government loan scheme and how you can save money on your energy bills.