The start of a new financial year is a good time to reflect and review. For the Better Building Finance team, this coincided with the conclusion of a major milestone in our short history.

Between 2016-2019, we partnered with the Australian Renewable Energy Agency (ARENA) to establish the EUF market in Victoria. The initial agreement was for 15 Councils established, however due to the strong uptake in the first year (13 Councils), the agreement was expanded for a further 15 Councils. This partnership enabled BBF to establish and administer the program for 32 Councils across Victoria, at no upfront cost to Council. As of July 2019, that figure is now up to 34.

Since passing state-wide legislation enabling all councils to join the EUF program, the Victorian marketplace has grown to lead the nation. A key part of this success has been the establishment of a streamlined, efficient administrative model, that works for Councils, building owners and installers alike.

At this milestone, we thought it a good time to share some of the impact this partnership has achieved:

  • $20 million invested in 63 projects
  • Renewable energy projects have been the most popular (79%), followed by energy efficiency (14%)
  • The manufacturing sector has had 25 projects attract $11.7m of investment
  • The commercial office sector has had 13 projects attract $5.3m
  • 367,390 tonnes of carbon dioxide equivalent (CO2-e) will be abated over the life of all the projects.

While EUF is a new form of finance and takes some time to understand and appreciate, these numbers represent both the interest in the community for smart new ways to overcome barriers to sustainability, and the innovation being led by Councils to support local business.

You can dig further into these numbers in our quarterly market data.

Thanks for your support and as always, if we can assist bringing the benefits of environmental upgrade finance to your area or business, please do get in touch.