Australian farmers, freight companies, and other small and medium businesses can now access cheaper finance for solar panels, batteries, and energy-efficient vehicles and equipment, thanks to a $50 million investment from the Albanese Government to support discounted loans.This funding, through the Clean Energy Finance Corporation (CEFC), will contribute to $250 million in discounted financing from non-bank lender Metro for electric vehicles, rooftop solar, and batteries.
Additionally, farmers and small businesses can obtain discounted finance for energy-efficient farm and building machinery such as tractors, harvesters, earthmovers, and cranes.For example, eligible customers financing a $60,000 electric vehicle could save about $1,700 in interest over five years.
Minister for Climate Change and Energy Chris Bowen said,
“This CEFC investment will help Australian businesses bring down their operating costs.The Albanese Government is putting the power back in the hands of small business, to give Australians more opportunities to benefit from the energy transition and ease cost-of-living pressures.Clean technologies like EVs, solar, batteries and electric machinery are a great way for businesses to save on energy bills and decarbonise.”
