Environmental Upgrade Agreements signed

Published on 30 May 2019

Two further Environmental Upgrade Agreements have been signed in Monash.

One was for a building in Notting Hill for the installation of solar panels. The building was developed as an extension to Monash University’s Notting Hill Campus and has been awarded a high commendation by the Monash World Environmental Day Awards for its sustainable design features.

Another EUA was recently signed for a commercial building, located in Clayton, to upgrade features including LED lighting, window solar film and solar panels.

Council now offers access to an Environmental Upgrade Finance program to assist Monash businesses to save money and improve their economic and environmental performance.

The Sustainable Melbourne Fund is working in partnership with Council to deliver this service.

Environmental Upgrade Finance (EUF) is a type of long-term, low-interest loan that helps commercial building or property owners fund upgrades to improve their buildings environmental performance. With EUF you can finance water and energy efficiency projects, and install renewable energy systems such as solar.

The loans are administered via an Environment Upgrade Agreement (EUA) between a financial institution, a property owner and Council. The financial institution advances funds to a commercial property owner to undertake upgrade works. Repayments are then made through the Council rates for the property. Council forwards the repayments to the financial institution.

For more information contact the Sustainability Team at Monash Council on 9518 3555 or sustainability@monash.vic.gov.au