Home > News > New Zealand Crown Energy Efficiency Loan Scheme
New Zealand Crown Energy Efficiency Loan Scheme
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Name |
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New Zealand Crown Energy Efficiency Loan Scheme |
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Active |
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Funding Mechanism |
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Loan fund |
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Duration |
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1989- |
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Objectives |
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To provide funding for energy management improvements |
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Sponsors |
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NZ Government, Energy Efficiency and Conservation Authority |
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Eligible Sectors |
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All government departments, regional territorial local authorities, crown-owned authorities such as crown health enterprises, and public integrated schools |
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Eligible Projects/Technologies |
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Lighting upgrades, heating system upgrades (mainly controls including BMS) but can include valve blankets and insulation. Swimming pool heat recovery systems. Some renewables such as remote area power systems. Power factor correction. |
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Fund Endowment |
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Typically NZ$ 1 million p.a. Can increase depending upon demand |
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Terms |
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-Funding Instruments |
Loans |
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-Interest Rates |
Varies-dependent on amount borrowed |
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-Payback |
5 years, i.e., the annual cost savings must be 20% of the loan (principal is normally 3 years) |
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-Size |
NZ$ 200,000 |
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-Collateral |
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-Share of loan in project cost |
Up to 100% - this can include the cost of equipment, installation, design and project management fees, and energy audit. |
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-Loan criteria |
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Comments |
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Established in 1989 to remove the funding barrier to energy efficiency in the public sector, this loan scheme supports EECA's other public sector commitment programmes such as the Government Energy Efficiency Leadership Programme (now EW Government) and the Energy Wise Councils Programme. |
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Sources |
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Energy Efficiency and Conservation Authority |
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| Contact Information |
Energy Services Engineer, Dan Coffey, dan.coffey@eeca.govt.nz |
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