Home Energy Saver Scheme Via No Interest Loans

People on low incomes across Australia will be able to purchase energy efficient products in the second half of this year through the No Interest Loan Scheme (NILS) run by Good Shepherd Microfinance.

The NILS Network of Tasmania is currently piloting the energy saver loans service along with the Good Money store in Collingwood, a community finance initiative by Good Shepherd Microfinance – one of Australia’s largest microfinance organisations.

The program is part of the Federal Government’s Home Energy Saver Scheme (HESS), which is providing $20.6 million to Good Shepherd Microfinance to enable people to buy affordable energy efficient products, through a subsidy and loan arrangement.

CEO of Good Shepherd Microfinance, Adam Mooney said the program would make a significant difference for people on low incomes who wanted to buy energy efficient goods and save on energy bills but could not afford to.

“Our NILS program, which we deliver in partnership with 260 community organisations, NAB and the Federal Government, is about providing no interest loans up to the value of $1,200 to people on a low income for essential household items. We hope to deliver up to 30,000 loans over the next two years.”

“Enabling people to purchase energy efficient appliances such as fridges, washing machines and heating and cooling systems is a natural and much needed extension of NILS,” he said.

“These subsidies will be offered across Australia. Combined with an online buying service, clients will have access to the best deals in the market. Our NILS providers are being trained in energy efficiency and buying through our Talking Stars program and look forward to welcoming new clients.”

He congratulated The NILS Network of Tasmania for piloting the initiative, saying demand for the new subsidy and loan scheme was high.

To be eligible for the subsidy, the household must purchase the item under the No Interest Loan Scheme (NILS). For information visit: www.goodshepherdmicrofinance.org.au