Energy efficiency funding scheme suspended

Council’s energy efficiency and clean heating loan scheme will be suspended for any new loans from 29 February.

Council’s loan scheme was set up in 2010 to assist Marlborough ratepayers to take advantage of government subsidies for insulation and clean heating. It meant ratepayers could take out loans to insulate or heat their homes, to a maximum of $15,000, which was added to their rates.

A changing regulatory environment is the impetus for the change, Council’s Chief Financial Officer Geoff Blake says. “There are now other options available to ratepayers with the large banks providing top up mortgages for energy efficiency upgrades at a better rate than Council offers,” Mr Blake said.

“The suspension of the scheme will not affect ratepayers who have an existing loan with us - it will only apply to new loans.”

The Energy Efficiency and Conservation Authority has had various schemes to provide grants for insulation and heating - the current one is called Warmer Kiwi Homes.

For more information go to: www.eeca.govt.nz/co-funding-and-support/products/warmer-kiwi-homes-programme/