Environmental Upgrade Finance


The Environmental Upgrade Finance program is currently on hold. We will provide updates as they become available.

Wellington Shire Council has partnered with Better Building Finance to offer this to local businesses.

Environmental Upgrade Finance (EUF) is a loan for building upgrade works, repaid via quarterly Council Rates. A lender provides the upfront capital for the works, which the business then repays through the council rates system. Council then remits it back to the lender.

EUF involves a three-way agreement between the business owner, Council, and lender. It provides an incentive for building owners to upgrade their infrastructure and improve the value of their property.

Key features:

  • Quarterly repayments made via a local council charge
  • Up to 100% project finance, including hard and soft costs
  • Loan terms can extend from 5 to 20 years to maximise business cashflow
  • Loans are tied to the building, not the business owner, making them easily transferrable if the building is sold
  • Landlords can split repayments with tenants, with both parties benefiting from the upgrade
  • No requirement for personal, business or other forms of security to be provided

What are the benefits?

  • Reduced business operating costs
  • Positive cashflow outcome
  • Security from volatile energy markets
  • Media and promotional opportunities
  • A better working environment
  • Environmental leadership in the community

What can be funded?

  • Solar PV systems
  • Energy efficiency upgrades and retrofits
  • Lighting upgrades e.g. LED, lighting controls and daylight sensors
  • Heating, ventilation and air-conditioning (HVAC) systems
  • Efficient control equipment e.g. power control of motors, pumps, boilers and air heating/cooling systems
  • Water harvestings, filtration, recycling and treatment for re-use
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To qualify, applicants need to meet the eligibility criteria listed below as well as any credit criteria set by the lender:

  • Upgrade to existing buildings, located on rateable land within the council boundaries
  • The proposed works should deliver a positive and quantifiable environmental outcome such as energy and/or water savings or waste minimisation
  • Must be up to date on all rates and charges due to council
  • Property type must be predominantly non-residential (such as commercial or industrial) and not be owned by a self-managed superannuation fund.

Learn more about eligibility by contacting Better Building Finance.


To apply, follow the steps below:

  1. Scope the environmental upgrade project with a contractor
  2. Better Building Finance can help connect businesses with participating lenders
  3. Lender provides the upfront capital for the upgrade project
  4. Owner (and/or tenant) makes repayments via an Environmental Upgrade Charge (EUC) on Council rates

Helpful Reference Guides

Terms and Conditions

1. Terms and Conditions

The Terms and Conditions set out in this web page apply in respect of your Application for an environmental upgrade agreement.

2. The Applicant

2.1 Obligations of the Applicant
In submitting the Application Form the Applicant:
(a) certifies that they have read and understood the Environmental Upgrade Agreement, which can be found by clicking here;
(b) authorises the Better Building Finance to obtain from the Wellington Shire Council property and rates information in respect of the property that is the subject of the Application necessary for verifying your eligibility for environmental upgrade finance;
(c) agrees that they will provide annual reporting on energy, water and other savings generated by the proposed environmental upgrade works to the Better Buildings Finance, and understands that this information may be used to develop media and communications materials, fact sheets and case studies and to measure program performance;
(d) agrees to pay all other applicable fees if the application is successful and the applicant proceeds with the project under an Environmental Upgrade Agreement.

2.2 Warranties and Indemnities provided by the Applicant
(a) the Applicant warrants that all statements, information, documents and representations made and provided by the Applicant in connection with the Application are true and correct.
(b) The Applicant acknowledges that the Better Buildings Finance will rely on the correctness of the above statements, information, documents and representations when processing the Application and, if the Application is successful, when considering the project under an Environmental Upgrade Agreement.
(c) The Applicant agrees to indemnify the Better Buildings Finance and Wellington Shire Council against any loss or damage whatsoever suffered as a result of any action, proceeding, claim, demand, prosecution or circumstance arising out of the performance, non-performance or breach by the Applicant of any warranty in connection with the Application.

3. Better Building Finance & Wellington Shire Council

3.1 Obligations of Better Building Finance & Wellington Shire Council
On receipt of the Application Form, the Better Building Finance will:
(a) abide by the relevant privacy laws in relation to any personal information sought or collected in relation to an Application and only use that information for the purposes of processing the Application and developing media and communication materials, fact sheets and case studies;
(b) seek prior approval from the Applicant if it intends to use the information gathered in connection with the Application for any other purpose other than processing the Application and developing media and communication materials, fact sheets and case studies (any materials developed will not be published publicly without the Applicant given the opportunity to view them first);
(c) contact the Applicant where additional information is required in order to assess the Application; and
(d) at all times during the Application process use reasonable endeavours to process the Application Forms within the time frames stated in the Application Guide.

4. Limitation of Liability

(a) Neither the Better Building Finance nor the Wellington Shire Council are liable for any loss or damage sustained (or that maybe sustained), including but not limited to indirect or consequential (including economic) loss as a result of any act or omission whether negligent or otherwise by the Better Buildings Finance, or its servants or agents, in connection with an Application.
(b) To the extent permitted by law, the Better Buildings Finance and Wellington Shire Council expressly disclaim all conditions and warranties, express or implied, in respect of the Application.

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