A new initiative from the Clean Energy Finance Corporation (CEFC) is set to make rooftop solar more accessible for residents of apartment buildings. The CEFC has teamed up with Lannock Strata Finance to make it easier and cheaper for strata buildings to install solar. This partnership will create a green strata loan, helping owners’ corporations cover the cost of solar panel installation with lower interest rates.
Making Solar More Affordable for Apartment Buildings
Through the Household Energy Upgrades Fund (HEUF), these new loans will cut borrowing costs, making it simpler for apartment buildings to switch to solar. The CEFC’s funding will work alongside state government solar rebates, including New South Wales’ Solar for Apartments Residents (SoAR) program.
The SoAR program offers rebates of up to $150,000 per apartment complex, significantly reducing the upfront cost of solar installation. The CEFC’s loan will provide extra financial support, so more apartment buildings can go green.
Giving More Apartment Owners Access to Solar
CEFC CEO Ian Learmonth highlighted how this initiative helps renters and apartment owners benefit from renewable energy, saying, “We can lower emissions by putting more clean energy into the hands of more Australians.”
One of the biggest hurdles for apartment buildings going solar is the high upfront cost. With this new green loan, apartment residents can save on power bills and reduce their environmental impact, just like homeowners with standalone solar systems.
Who is Lannock Strata Finance?
Lannock Strata Finance has experience working with governments to provide funding for apartment buildings. They’ve helped deliver:
- The NSW Project Remediate Program, which replaces unsafe cladding in residential buildings.
- The ACT Government Private Buildings Cladding Scheme, which funds similar upgrades.
Now, they’re working with the CEFC to offer specialised loans for solar in strata properties, making it easier for apartment owners to invest in renewable energy.
Why This Matters for Apartment Owners
Australia’s 11 million homes account for over 10% of the country’s total emissions and more than 25% of electricity use. Improving energy efficiency in homes, including apartments, is key to reducing carbon emissions.
The Federal Government has committed $1 billion to the HEUF to help more homeowners and renters upgrade to energy-efficient solutions. The CEFC has already supported $345 million in green loans, with more expected in 2025. This means more funding opportunities for apartment owners looking to go solar.
Get Solar Quotes for Your Apartment Building
If you’re part of an owners’ corporation or strata community and want to explore solar options, visit Solar Commercial Market. We connect you with trusted commercial solar providers who can advise you on rebates and financing options to make your solar project happen. Take the first step toward lower energy costs and a greener future for your apartment building.
If you’re a homeowner and want to explore financing options for solar and batteries, including green loans, check out our Finance Options for Solar page.
