TEELS Interest Free Loans Update

The state government has received 2761 eligible requests for loans under the Tasmanian Energy Efficiency Loan Scheme in less than four months.The scheme, a partnership between the government, Aurora Energy and Westpac, allows households and small businesses to apply for interest-free loans of up to $10,000 for energy-efficient products.

The requests included 1127 requests for loans for solar panels, 776 for heat pump installation, 497 for solar-power battery storage, and 295 to install efficient wood heaters. Westpac has approved 1224 of the requests, equalling $8.84 million.The state government said 697 applicants had already spent $4.97 million of the loans.

Energy Minister Matthew Groom said the response to the loans program had been overwhelming, adding that the scheme helped homes reduce bills and supported local jobs.

Now the door is open for small business purchases from $10,000 to $40,000! Tasmanian businesses can now apply for an interest free loan attributable only to energy efficient products. There is a maximum payback period of 5 years for loan amounts between $10,000 and $40,000.

Just go to the Aurora website for more and possibly seek independent financial advice to ensure TEELS is appropriate for your circumstances.


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