Westpac has become the first bank in Australia to be supported by the Clean Energy Finance Corporation's AUD 1 billion Household Energy Upgrades Fund, launching a range of sustainable home and investment property loans that allow borrowers to finance the installation of energy-efficient and climate-resilient technology in residential properties.
THE CEFC FUND
The Clean Energy Finance Corporation is an Australian government-owned green bank established to facilitate investment in clean energy, energy efficiency, and low-emissions technology. Its AUD 1 billion Household Energy Upgrades Fund was designed to mobilise capital from commercial lenders by providing co-financing support, with the objective of accelerating the uptake of clean-energy upgrades in Australian homes at scale. The fund targets installations that reduce household energy consumption or improve resilience to climate-related impacts.
Westpac's loans under the programme are designed to cover items such as solar generation systems, battery storage units, electric vehicle charging infrastructure, and other energy-efficient or climate-resilient home improvements.